Happy Friday, In A Nutshell this week:

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🚀⏰ Today’s news should be a ~5.03-minute read (764 words).

🧠 Quote Of The Week

“The price of freedom is eternal vigilance.”

— John Philpot Curran

Coinkite issued an urgent security advisory after 594 BTC, about $38 million, was swept from roughly 500 single-sig addresses on 30 July. They warned that seeds generated on Coldcard Mk3 firmware 4.0.1 to 5.0.3 may be compromised by a flawed random number generator.

Block engineers say the same randomness flaw may also touch Mk2, Mk4, Q and Mk5 devices, not just the Mk3, and have flagged a further 695 matching transactions worth 488 BTC, putting the total potentially closer to 1,083 BTC. Block says weak 25th-word passphrases and some multisig setups may also be exposed.

If you hold Bitcoin on any Coldcard, check the advisory, keep looking for more updates on the situation and act accordingly to protect your coins.

Low-carbon sources now make up 59.4% of Bitcoin's energy mix, up from 52.4% in mid-2024, according to preliminary Cambridge data presented this week. Higher than any other reported industry.

Hydropower overtook natural gas as the single largest source, driven largely by Ethiopia's Grand Renaissance Dam on the Blue Nile, Africa's largest at 5,150 megawatts. Ethiopia now accounts for roughly 2.6% of global hashrate.

Elon Musk once said Tesla would resume taking Bitcoin once miners hit roughly 50% clean energy usage. That line was crossed years ago, and Tesla still hasn't flipped the switch.

Network energy use grew 38% in eighteen months, but emissions grew only 20%, a widening gap between more mining and a cleaner grid.

A lawsuit alleges Apple left a fake Bitcoin wallet app on the App Store for more than a week after one user reported losing $875,000 to it, only for a second user to lose a further $840,000 in that window.

Three plaintiffs say they lost a combined $1.84 million after downloading an app impersonating Sparrow Wallet, a genuine desktop-only piece of software with no iOS version, and entering their seed phrases.

The suit, filed 24 July in California, argues Apple's marketing led users to believe App Store listings were vetted and safe. Apple has since removed the app and says it has terminated the developer accounts behind it.

The Senate's landmark crypto market structure bill, the Clarity Act will miss its window before the August recess, after an ethics dispute over federal officials trading digital assets stalled floor time.

Republicans released an updated draft barring presidents and officials from issuing or sponsoring crypto, but Democrats say the restrictions do not go far enough. A vote is now expected the week of 3 August, with September a real possibility if that slips too.

Bitcoin does not need Washington's permission to keep working. Clear rules would just remove one more excuse for the institutions still sitting on the sidelines.

The pound has lost 95% of its purchasing power since 1971. Bitcoin is down 50% from its highs and the mood online is grim.

On the latest episode, Jordan sits down with returning guest Richard Byworth, who argues the bottom is already in. They unpack classic seller exhaustion signals, why family offices are quietly moving into Bitcoin, and why the UK's wealthy are heading for the exit.

The episode is available here: YouTube, Apple Podcasts, Spotify

1. The Smarter Web Company inside the UK’s first listed Bitcoin treasury company

2. Elizabeth Warren wants to immediately scrap the US debt ceiling and “protect” the economy

3. Spain’s largest bank reveals a $4.3 million investment in IBIT

4. Ray Dalio confirmed he still holds 1% of his portfolio in Bitcoin

5. Australian Brewery is using excess heat from Bitcoin miners to brew beer

6. Canada: 1 in 4 now hold Bitcoin, up 10% from 2024

7. JAN3 ranks the UK 3rd in list of countries leading Bitcoin adoption

8. Emirates Airline adds Bitcoin Payments

9. Dual Money Era spending sats at every shop “will not happen within our lifetime”

10. Metaplanet has begun offering its own Bitcoin-backed corporate bond in Japan

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