Short liquidations made up 75% of $29M in crypto liquidations. MARA raised $600M in BTC-backed debt. Russian hardware wallet sales jumped ahead of Sept. 1 rules.
Crypto markets saw $29.13 million in forced liquidations over the past 24 hours, with short sellers bearing the brunt. Data from CoinGlass showed that short liquidations totaled $21.94 million, or 75.32% of the total. The imbalance means traders who bet on lower prices were forced to buy back as prices moved against them.
Bitcoin miner MARA Holdings raised $600 million in debt backed by 18,750 Bitcoin. The company plans to use the proceeds to expand power generation and AI infrastructure, a strategy miners increasingly adopt to reduce reliance on block rewards. MARA carries an AlphaScala Alpha Score of 17, classified as Weak. Federal prosecutors in Connecticut charged three men with conspiracy in a kidnapping plot aimed at forcing a Bitcoin transfer. The targeted residence belonged to the parents of a person suspected of involvement in a Bitcoin theft worth hundreds of millions of dollars. Separately, the Department of Justice charged Taj Tarsha, founder of NFT marketplace Few and Far, with misusing $10 million raised from 67 investors, allegedly diverting funds to gambling, crypto purchases, and personal expenses.
The open-source payment processor BTCPay Server disclosed that a critical vulnerability in versions before 2.4.2 was exploited in active attacks, resulting in stolen funds. The project urged immediate upgrades, especially for users running the Lightning Network implementation LND. The incident shows how security risks persist in community-built infrastructure.
In Russia, two major retailers reported that hardware wallet sales jumped 84% to 107% in the second quarter. The surge comes ahead of new cryptocurrency regulations taking effect on Sept. 1, which have prompted users to move toward self-custody. Hardware wallets store private keys offline, reducing reliance on exchanges.
Mining pool Roughnecks, known for backing the BIP-110 protocol, said it would halt its own mining operations after internal discussions. The group advised miners on the BIP-110 chain to pause activity. Separately, the Solana-based perpetual futures protocol FlashTrade shut down its platform. Founder Anas cited deep internal disagreements and declining user activity that made the platform unprofitable. The team is exploring a sale of its tech stack to compensate FAF token holders.
StonkBroker briefly surpassed a $95 million market capitalization, an all-time high during a short trading window. On Kalshi, the 2028 U.S. presidential winner market showed Vice President JD Vance leading with a 19% implied probability, according to Bitcoin historian Pete Rizzo. Rizzo said Vance has argued Bitcoin is part of the mainstream financial economy.
The new Russian crypto rules take effect on Sept. 1.
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