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Bitcoin is rolling with the punches and showing resounding resilience.

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X SUES BITCOIN INFLUENCER OVER ALLEGED £207,000 ENGAGEMENT FRAUD SCHEME

X has sued the operators behind @Vivek4real_ and a network of Bitcoin and crypto accounts, alleging they manipulated engagement to fraudulently extract more than £207,000 from its creator revenue-sharing program.

The lawsuit names @Vivek4real_, @Bitcoin_Teddy, @saylordocs, @TrendingBitcoin, @Kalshibacktest and @PolyBackTest among the accounts allegedly operated as a coordinated network.

X claims the accounts repeatedly liked, reposted and engaged with one another, published identical or near-identical content, and used a web of financial accounts to conceal their connections.

The company alleges @Vivek4real_ was also used to offer paid engagement-manipulation services to third parties and solicit additional high-follower accounts into the operation.

X suspended the accounts on August 18 and is now seeking to recover the allegedly improperly obtained funds.

Don’t mess with altcoins.

This is who is on the other side of the trade.

Bitcoin is pumping

The leaves are turning

Feels like citadel season is starting

From Sionainn

🇺🇸 US SANCTIONS IRANIAN BITCOIN EXCHANGE OVER IRGC AND HORMUZ PAYMENTS

The US Treasury has sanctioned Iranian crypto exchange BitBank, accusing it of facilitating hundreds of millions of dollars worth of Bitcoin transfers to the IRGC.

Treasury says Iran’s Hormuz Safe Marine Services Authority has also used BitBank since June to transfer payments collected from ships transiting the Strait of Hormuz to the Iranian government.

BitBank is controlled by sanctioned Iranian financier Babak Zanjani, who Treasury says built a network of digital asset companies used to evade sanctions and move funds for the IRGC.

The designation freezes BitBank property under US jurisdiction and bars Americans from transacting with the exchange.

NEW: Ledger CTO Charles Guillemet says a Bitcoin quantum migration is a years-long coordination problem, not an overnight hardware event.

He reviewed the SHRINCS draft BIP, a SHA-256 hash-based scheme with 48-byte public keys.

Stateful signatures run 548 to 4,619 bytes versus 64 to 72 today.

The stateless fallback is 5,777 bytes.

Signing on current secure hardware could take minutes.

He argues the harder fight is consensus over dormant coins whose keys never hit the chain.

Bitcoin can tell there’s a Big Print around the corner 👀

From reason

A look inside a modern hydro-cooled Bitcoin mining operation 👀

From Bitcoin Pirate

TRUMP IN JANUARY: "It's amazing how people change once they get the job of Fed Chair." 😮

NEW: Ethiopian Electric Power has cut deliveries to bitcoin miners to 23% of contracted power.

El Niño reduced reservoir inflows about 20%, so households and manufacturers came first.

Miners still made up 35% of EEP revenue last year and nearly a third of national electricity use.

The utility will reassess in October.

FED RAISES RATES 25 BPS, FIRST HIKE SINCE 2023

The Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%-4.00%.

It marks the Fed’s first rate hike since July 2023, ending its longest pause between hikes since 2008.