In brief Galaxy Research said Monday that 97.09 BTC, worth about $7.7 million, has left the Wave 3 vaults. The coins went out through THORChain on September 2 and into CoinJoin rounds over the weekend. Across the whole Coldcard exploit, 82% of the stolen Bitcoin has still not moved. The attacker behind the third wave of thefts from Coldcard hardware wallets has moved 97.09 BTC, roughly 45% of that wave’s haul and about $7.7 million at Monday’s prices, according to Galaxy Research.The first exit came on September 2, when around 20.5 BTC from the largest vault went through THORChain and…

In brief Genuine stablecoin payments ran at about $390 billion annualized in late 2025, roughly 0.02% of a cross-border market worth $208 trillion. Enterprise flows begin and end in fiat, leaving stablecoins to settle only the middle leg that once ran through correspondent banking. Single-bank dependency is the sector’s most underrated operational risk, with Silvergate, Signature, and the FDIC pause letters as precedent. Stablecoins were supposed to route around the banking system. Instead, the companies scaling them are building deeper into it than anyone predicted.Stripe paid $1.1 billion for Bridge, whose core product is orchestrating banks. Citi is launching crypto custody.…

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