Alex Thorn

Hackers have stolen over $114 million in Bitcoin from Coldcard wallets due to a firmware bug in Coldcard Mk3 devices, allowing seedphrase guessing. Coinkite, the company behind Coldcard, confirmed all models were vulnerable and halted shipments of the product.

Galaxy's Alex Thorn warned Coldcard users about a suspected fourth attack wave that may have stolen 389 Bitcoin, noting unconfirmed transactions could offer a chance to save funds.

Galaxy Research has reduced the likelihood of the Clarity Act 2026 passing to 50%, according to Alex Thorn, due to Senate calendar constraints and stalled negotiations. The organization cites a lack of progress in discussions as a key factor in the lowered odds.

Galaxy Research has lowered the CLARITY Act's chances of becoming law in 2026 to 50-50 due to a tight Senate schedule and lack of progress on merging bill texts or scheduling a vote. The act, which aims to establish a regulatory framework for digital assets, passed the Senate Banking Committee but remains stalled on the legislative calendar.

The SEC's plan to eliminate Rule 611, which governs stock orders and quotes, could facilitate trading of tokenized US stocks on decentralized platforms, according to Galaxy's Alex Thorn. The proposed change is seen as removing a significant regulatory barrier for this emerging financial technology.

Bitcoin's recent price drop coincided with a $1.3 billion sale of BlackRock’s Bitcoin ETF on a dark pool, according to Galaxy Digital analyst Alex Thorn. This transaction is the largest dark pool ETF sale he has observed.

The Bitcoin community is forming consensus on addressing quantum computing risks, with agreement to leave Satoshi Nakamoto's untouched holdings undisturbed and prioritize post-quantum cryptographic research. Alex Thorn of Galaxy Digital highlights that distributed Satoshi addresses (22,000) reduce quantum attack feasibility, while exchanges can adopt post-quantum upgrades to mitigate risks.

The CLARITY Act's stablecoin yield provisions have been finalized, marking a significant step for the crypto bill. Galaxy Digital's head of research, Alex Thorn, anticipates increased opposition from the banking industry in response.

The 2024 Bitcoin halving cycle is underperforming historical patterns, with diminished volatility and price surges compared to previous cycles. Galaxy Digital's analysis suggests market dynamics have shifted, challenging the assumption that halvings automatically trigger bull runs.

Bitcoin's 2024 halving cycle is underperforming previous cycles in terms of volatility and upside, but analyst Alex Thorn from Galaxy suggests the current dynamics may not be permanent.