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Crypto exchange Coinbase lost roughly $300,000 in token fees after a misconfigured interaction with decentralized exchange protocol 0x’s “swapper” contract allowed MEV bots to siphon funds from one of its corporate wallets.Coinbase’s chief security officer Philip Martin confirmed the mishap and called it an “an isolated issue” tied to a change in one of the exchange’s corporate DEX wallets. He stressed that no customer funds were affected, per an X post.Security researcher “deeberiroz” of Venn Network first flagged the exploit on Wednesday, saying Coinbase mistakenly approved tokens to the swapper contract — a permissionless tool designed for executing swaps but not intended to hold token allowances.That setup opened the door for opportunistic MEV bots, which immediately drained the wallet once...

Bitcoin (BTC) surged past its previous record on Wednesday, rallying in tandem with U.S. equities as investors continued piled into risk assets ahead of key macro catalysts.BTC rose above $124,000 in early Asia trading on Thursday, topping the July 14 high of $123,205, before seeing slight profit taking. The move came as the S&P 500 logged its second consecutive record close, meaning BTC mirrored a rally in stocks as both markets feed off the same bullish macro backdrop.It became the fifth-largest asset by market capitalization across all assets, data shows, crossing Google’s $2.4 trillion.The milestone reflects a year-long build in bullish sentiment, fueled by a friendlier regulatory backdrop under President Donald Trump and the rapid adoption of corporate treasury strategies...

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.South Korea’s decision to shelve its central bank digital currency pilot in favor of private-sector stablecoins has sparked a wave of activities among fintechs and banks.As CoinDesk previously reported, KakaoBank is weighing both issuance and custody roles, while Upbit and Naver Pay are collaborating on a payments-focused token that could help close the “kimchi premium” gap between local and global crypto prices.The opportunity comes as Korea is moving to extend FX trading hours, allow more foreign participation in...

Bitcoin (BTC) has mounted another attempt for a fresh all-time record climbing near $123,000, a four-week high during the Wednesday U.S. session.Two previous attempts, spiking to $122,300 on Monday and topping $123,000 on July 14, were met with heavy selling, knocking down prices intraday below $120,000 on both occasions.Ethereum's ether (ETH) was also inching closer to its 2021 peak of $4,865, trading at $4,750 and just 3% shy from that record. Ether continued its recent outperformance, ahead 4.5% over the past 24 hours against 2.3% for BTC.The crypto rally extended to major altcoins, with Solana's SOL (SOL) advancing 5% above $200, Uniswap's (UNI) and Hyperliquid's (HYPE) native tokens also rallied 5%-6%.Broader capital markets are providing "supportive momentum" with the S&P 500...

Donald Trump's dismissal two weeks ago Bureau of Labor Statistics Commissioner Erika McEntarfer and nomination of EJ Antoni as her replacement is generating plenty of "inside baseball" chatter among the political class.But did the president — as uncouth and ham-handed as his methods are — stumble upon a truth that was hiding in plain sight: that the government economic data relied upon by markets and business leaders for the allocation of hundreds of billions in capital just isn't very accurate?"I probably would have fired the head of the Bureau of Labor Statistics too," wrote Ray Dalio, founder and now former CEO of hedge fund giant Bridgewater. "Its process for making estimates is obviously obsolete and error-prone, and there is no...