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Bitcoin rises above $65,170 despite Coldcard hack and Clarity Act delay
Bitcoin was up nearly 4% over the past week, even as reported losses from the Coldcard wallet exploit topped $130 million and a US digital asset regulation bill was delayed until September.
Bitcoin traded higher on Friday, holding above $65,170 despite negative developments including a delay to the US “Clarity Act” and a major exploit targeting Coldcard hardware wallets, Bitcoin Magazine reports.
The publication said hackers began stealing Bitcoin from Coldcard wallets after discovering a software vulnerability, with some estimates putting losses at more than $130 million. It also noted the firmware flaw allowed an attacker to guess weak private keys, and that millions of dollars in Bitcoin were drained on a daily basis since the attack.
Bitcoin Magazine added that lawmakers delayed the crypto market structure bill until September, which would set digital asset regulation in the US if approved. The outlet said the bill’s progress is typically seen as a potential tailwind for Bitcoin, but the price gained even with those regulatory headwinds.
The rise coincided with continued ETF buying, according to data cited by Bitcoin Magazine from Farside Investors. The outlet said BlackRock’s iShares Bitcoin Trust and a Morgan Stanley fund saw significant inflows this week, and that since the start of the week, $763.6 million in fresh cash entered Bitcoin funds.
Latest closeBitcoin $64,802.26 ▲0.8%