Hardware-wallet security, ETF flows, regulation and this week’s crypto market pulse.

This week in 30 seconds

1. Security. A flaw in certain COLDCARD firmware versions exposed some wallet seeds; an estimated $116 million was drained.
2. Markets. Bitcoin and ether ETFs drew about $1.1 billion — their best week since April.
3. Regulation. The Senate set a 15 September procedural vote on the CLARITY Act after filing cloture.

Market pulse

Market data snapshot as of 10 August 2026, 04:11 UTC. Source: CoinGecko. Stablecoin prices are shown in EUR. Their EUR movements may reflect changes in the EUR/USD exchange rate as well as market pricing. Total-market 7-day change is not available from the data provider, so BTC dominance is shown instead. Data is indicative and provided for information only.

The big story

Coldcard Wallet Flaw Drains an Estimated $116 Million

What happened. A flaw in certain COLDCARD firmware versions reduced the randomness used to generate some wallet seeds, potentially allowing attackers to reconstruct affected private keys. Theft waves began 30 July and continued into early August; on 5 August, analysts at TRM Labs put the preliminary tally at about 1,816 BTC — roughly $116 million — across more than 5,200 addresses.

Why it matters. Hardware wallets are widely used to reduce the exposure of private keys, but their security also depends on generating seeds from sufficient randomness. Even dedicated signing devices can fail, and loss figures remain preliminary.

What to watch. Coinkite released fixed firmware at the end of July and advises regenerating seeds created on affected versions.

Read Coinkite’s advisory

Three things to know

Regulation: Senate Sets 15 September CLARITY Act Vote

Majority Leader John Thune filed cloture on 8 August, scheduling a 15 September vote on the motion to proceed, The Block reported. It needs 60 votes; ethics, illicit-finance and Agriculture Committee provisions remain unresolved.

Read more

Markets: Bitcoin and Ether ETFs Post Best Week Since April

US spot bitcoin ETFs drew about $853.5 million and ether ETFs $244.9 million in the week to 7 August — roughly $1.1 billion combined, the strongest showing since April on SoSoValue data analysed by The Block, despite unusually low trading volumes.

Read more

Stablecoins: Circle Posts Q2 Results as USDC Tops $73 Billion

Circle reported $701 million in second-quarter revenue, up 7%, with USDC circulation growing 19% year-on-year to $73.3 billion. Circle also received federal approval to establish a national trust bank, among the first for a stablecoin issuer.

Read more

Learn in 60 seconds

How does a hardware wallet keep keys safe?

A hardware wallet keeps private keys in a dedicated device and signs transactions without exposing those keys to the connected computer. Its security also depends on generating the wallet seed from sufficient randomness. The COLDCARD incident showed what happens when that step fails: certain firmware versions produced seeds weak enough to reconstruct.

Learn with Mugano

Sources

1. Coinkite — Coldcard Security Advisory (published 30 July 2026, updated 1 August 2026). blog.coinkite.com
2. TRM Labs — on-chain analysis of the Coldcard exploit (5 August 2026), source of the preliminary 1,816 BTC / ~$116 million tally. trmlabs.com
3. The Block — Majority Leader Thune files cloture on Clarity Act, setting up Sept. 15 Senate vote (8 August 2026). theblock.co
4. The Block — Bitcoin, ether ETFs draw $1.1 billion in best inflow week since April, despite low volume (8 August 2026), on SoSoValue data. theblock.co
5. Circle — Circle Reports Second Quarter 2026 Results (5 August 2026). circle.com
6. CoinGecko — EUR market data, retrieved 10 August 2026, 04:11 UTC. coingecko.com

Company names identify the publishers of the sources cited. Mugano is not affiliated with, and does not endorse, any third-party product mentioned.

More from Mugano

The Mugano Market Brief is published weekly. You can read past issues in Market Insights & Newsletters, browse explainers in Learn with Mugano, or see how we approach protecting customer assets on our Security & Compliance page. Existing clients can sign in to the platform.

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