ChainCatcher’s Aug. 3 morning roundup covered a broad mix of crypto, equity and venture capital developments from the past 24 hours, led by a new warning over Coldcard wallet attacks, a portfolio reshuffle at Roundhill’s memory-chip ETF, and renewed fundraising activity among Chinese venture capital firms.
Galaxy flags a third Coldcard attack wave
According to Bitcoin News monitoring cited by ChainCatcher, Galaxy has identified a third wave of attacks tied to COLDCARD, with estimated losses now exceeding $88 million. Users still holding funds in any ColdCard model from 2020 onward were urged to move their BTC immediately.
Galaxy Research head Alex Thorn wrote on X that one Coldcard attack victim who held nearly 30 BTC saw 17 BTC split up, swapped into ETH through THORChain, and then deposited to offshore betting platform Duel.com.
Thorn said the traced funds amounted to about 229.72 ETH, worth roughly $445,000. The victim and the research team sent emails to all known Duel.com addresses with full transaction and deposit records and asked the platform to freeze the funds. He said the response was that the victim should have police contact the company, even though the platform’s anti-money laundering policy says it carries out KYC and complies with relevant laws.
Thorn called that response unacceptable. He said most of the Western world was already past midnight, which meant a police report would not move forward until at least Monday. In his view, if a platform refuses to freeze funds after receiving forensic notice that the assets came from an ongoing cyberattack, that amounts to assisting theft. With Duel.com’s X account suspended, Thorn tagged multiple people linked to the platform and called on them to push for action, adding that major litigation would follow if the funds were not frozen.
Binance founder Zhao Changpeng later reposted a user report about the Coldcard incident and said software will always have vulnerabilities, and the key issue is how the team behind it handles the problem. Zhao added that Trust Wallet had faced a similar issue years ago when a pseudo-random number generator that was not truly random led to about $12 million in losses, though the team ultimately covered user losses.
ChainCatcher also noted that a suspected third wave of attacks targeting generated Coldcard addresses had already moved another 207.7294 BTC. Observed Coldcard-related attacks have now expanded to about 1,367.05 BTC across roughly 4,585 addresses, worth about $88.60 million at current prices.
Michael Saylor posts another Bitcoin Tracker message
Michael Saylor, founder and executive chairman of bitcoin treasury company Strategy, posted another Bitcoin Tracker-related message and wrote, “Bitcoin Drive engaged.”
Based on his previous pattern, Strategy often discloses changes to its bitcoin holdings on the day after such a post appears.
Roundhill adds CXMT and cuts Samsung exposure
Roundhill Memory ETF, traded under DRAM, has added CXMT, also known as ChangXin Memory Technologies, with a portfolio weight of 2.52%. The ETF focuses on memory-chip companies.
As of Aug. 2, the fund’s top three holdings were Samsung Electronics, Micron Technology and SK Hynix, with weights of 26.39%, 24.54% and 22.77%, respectively. Other major holdings included Seagate Technology, Western Digital, SanDisk, Kioxia, Nanya Technology and GigaDevice.
In addition to adding CXMT, Roundhill also reduced its Samsung position this week. From Monday through Wednesday, the DRAM-themed fund sold about 1 million Samsung shares per day, for a three-day total of 3 million shares worth roughly $432 million.
South Korea weighs emergency powers for market intervention
According to NATE, South Korean financial regulators are pushing amendments to the Capital Markets Act that would give them emergency intervention powers to take direct market-stabilizing steps during periods of severe stock-market volatility.
The Financial Services Commission, or FSC, and the Financial Supervisory Service, or FSS, have begun work on the legal revisions. The focus is on single-stock leveraged ETFs, which regulators believe amplified volatility during the recent market selloff. Measures under consideration include adjusting leverage multiples and imposing investment caps to reduce risks tied to concentrated trading.
Regulators are also considering personal investment limits for single-stock leveraged ETFs, with the cap unified at around 20% to prevent excessive concentration of funds. They are also weighing a simulated trading requirement to improve investor understanding of leveraged-product risks.
South Korean regulators said the higher basic margin requirement is meant to raise the barrier to entry, while an investment cap would set an upper bound on fund inflows. In their view, the two tools would complement each other as a broader risk-control framework.
South Korea had already raised the minimum margin requirement for investors in single-stock leveraged ETFs from KRW 10 million to KRW 30 million starting July 31. Data showed that on the first day of the new rule, trading volume in 16 related leveraged ETFs was about KRW 3 trillion, roughly one quarter of the KRW 12.4 trillion recorded in the previous session and about 80% below the KRW 15 trillion level seen on July 29.
WSJ says memory-chip bubble burst has not triggered systemic stress
The Wall Street Journal reported that recent U.S. market bubbles concentrated in specific industries and themes have generally failed to drag down the broader stock market once they burst.
In this cycle, the memory-chip bubble inflated and burst in about four months, with sharp volatility and one hedge fund falling into crisis. Even so, the S&P 500 stood only 1.6% below its all-time high, while the equal-weighted S&P 500 hit a fresh high last week. Pullbacks in AI-related stocks have also been almost fully offset by gains in other sectors.
The report listed a string of bubbles over the past decade and more, including 3D printing, China concept stocks, low-volatility products, SPACs, clean energy, cannabis, space, crypto assets and AI names. It said Strategy had fallen 83% from its peak, Trump Media shares were down 89%, and SK Hynix had at one point dropped 55% before rebounding last Friday.
Loose money, speculative demand and expectations for new technology helped inflate these bubbles, the report said, while margin debt and leveraged ETFs have amplified swings in recent years. The reason these episodes have not caused serious economic damage is that most were not funded by heavy debt. Losses were absorbed mainly by investors, while the banking system avoided a clear hit.
Macro strategist Russell Napier said the banking system remains healthy, which means more credit is still available to fuel the next bubble.
The report added a warning on AI investment. Data-center spending could reach $7 trillion over the next four years, and if productivity gains from AI fail to justify that scale of spending, capital misallocation could do real damage to the economy. As AI buildout relies more heavily on debt financing, a broader AI bubble could eventually hit the financial system if it bursts.
Leopold Aschenbrenner withdraws planned Anthropic stake sale
The Wall Street Journal also reported that when funding pressures were at their worst, Leopold Aschenbrenner had agreed to sell roughly $3.5 billion worth of Anthropic shares. The buyers were investors led by Greenoaks and Sequoia Capital.
The deal was agreed late Wednesday night and then pulled the next morning. The fund later chose to sell most of its public equities and use the proceeds to repay borrowings.
Leopold ultimately kept its holdings in Anthropic and other private companies. In a letter to investors, it said it chose to sacrifice public-stock positions in order to remove leverage while preserving private investments.
Trump Media launches Truth API
CNBC reported that Trump Media has formally launched Truth API, a paid data service that offers faster access to posts from Donald Trump and other major Truth Social accounts. The service costs $100,000 per month and is aimed mainly at trading firms and enterprises.
Interim CEO Kevin McGurn said Truth API is designed to give institutions a “direct, licensed, real-time stream of the most market-moving Truth posts.” Trump’s @realDonaldTrump account currently has 13 million followers, and some of his key policy decisions are first posted on Truth Social.
Before the launch, Democratic senators Adam Schiff and Elizabeth Warren sent a letter to the U.S. Securities and Exchange Commission asking it to investigate whether Trump Media may have violated the law. They said the service could amount to using the presidency for personal gain and could hurt ordinary investors and market integrity.
Trump Media said Truth Social posts already move markets and that Truth API will help monetize the company’s proprietary data assets through a high-margin, recurring-revenue model.
Goldman Sachs sees no Fed rate change in 2026
According to Coin Bureau, Goldman Sachs expects the Federal Reserve to keep interest rates unchanged throughout 2026. The bank believes slowing inflation will outweigh hawkish signals and the market’s rising expectations of a September rate hike.
Bloomberg reports South Korean retail anger after July selloff
Bloomberg reported that South Korea’s July plunge in the KOSPI hit retail investors hard. Even though the index staged a record 18% rebound on Friday, retail traders were still record net sellers of KOSPI shares that day. The index fell 22% for July, its worst monthly drop since the global financial crisis, in a market with total capitalization of about $3.9 trillion.
Retail investors had bought around KRW 78 trillion, or $54.2 billion, worth of KOSPI stocks from May through June as President Lee Jae-myung pushed stock-market reforms and single-stock leveraged ETFs were introduced. After the July drop, many investors on social media turned their criticism toward the government.
One investor in Seoul in his 30s said he entered the Korean stock market for the first time in May and has now decided not to invest in it again. Another investor in his 40s said he borrowed KRW 50 million against his home to buy stocks and criticized the government for turning the market into a “casino” by introducing leveraged ETFs.
The KOSPI triggered circuit breakers four times in July, a monthly record. Samsung Electronics and SK Hynix together accounted for more than 50% of the index weight, and their shares fell 21% and 35% in July, respectively. Even so, since the start of 2025, Samsung had still risen more than fourfold and SK Hynix had climbed nearly tenfold.
Analysts cited in the report said the move was a classic case of crowded positioning combined with leverage. They said deleveraging cannot be completed within a few days and that tech and semiconductor stocks may remain highly volatile for months, though that should not be read as a full collapse of the AI investment thesis.
The South Korean government had already suspended new listings of single-stock leveraged ETFs in mid-July and promised more steps to stabilize the market and limit retail participation in high-risk products. But the head of the Korea Shareholders Alliance said retail anger and criticism of the government had reached a peak, with many investors believing the measures came too late.
Chinese VCs return to U.S. dollar fundraising
The Financial Times reported that after three years of record weakness, Chinese venture capital firms are accelerating fundraising for new funds as investor interest in Chinese technology begins to recover.
Data from Asante Capital showed that at least 60 new U.S. dollar funds are targeting a combined $35 billion, with about 40 of them focused on venture capital. HSG, IDG Capital, Matrix Partners China and Monolith are marketing new funds or preparing launches, while ZhenFund and Qiming Venture Partners have recently closed fundraising.
Successful listings by technology companies including Zhipu and MiniMax, along with progress by Moonshot AI, DeepSeek and robotics firms, have helped bring investor attention back to Chinese tech. Some investors are treating allocations to Chinese AI as a hedge against concentrated bets on U.S. markets because Chinese companies compete aggressively on cost and offer lower-priced model services.
Market participants said this does not mean Chinese venture capital has returned to boom conditions. Instead, it marks a selective restart in U.S. dollar fundraising after three straight weak years. Preqin data showed that 1,105 China-related funds raised $150 billion in 2022, while only 97 funds raised $13.6 billion in 2025.
Some major U.S. investors are still staying on the sidelines because of restrictions around sensitive-technology investments, while European and Middle Eastern capital has shown stronger interest. In the current buyer’s market, investors are asking for more co-investment rights and more GP capital commitments. At the same time, large pools of money are chasing a limited number of high-conviction projects, especially in AI.
GMGN meme token ranking
According to GMGN market data as of 09:00 on Aug. 3, the top five trending meme-related tokens over the past 24 hours were as follows:
- ETH: HEX, SHIB, LINK, MEME, PEPE
- Solana: ANSEM, TROLL, CATE, manlet, Jimothy
- Base: FLAY, jesse, REPPO, MOLT, coinage
Articles highlighted by ChainCatcher
ChainCatcher also listed several reads from the past 24 hours, including an article on record foreign net buying in Korean equities, a midyear 2026 report on on-chain RWA, and an a16z piece arguing that DUNA could become a next-generation organizational form.
The Korea market article said foreign investors were net buyers of roughly KRW 7.2 trillion of KOSPI shares on July 31, the highest single-day net buying figure on record. Citi Research analyst Jin-Wook Kim kept a 10,000 target on the KOSPI and said headwinds from capital flows were easing.
The RWA report argued that while the scale of tokenized assets on-chain looks impressive, freely tradable products often lack real ownership rights, while legally enforceable products tend to lack liquidity. It broke down what sits behind an “$1.89 billion market” and said equities have not really moved on-chain. What has emerged instead is a more credible infrastructure layer for distributing securities, recording ownership claims and settling transactions through blockchain-based systems.
The a16z article traced the evolution of business organization and argued that DAO legal problems are rooted in institutional gaps rather than technical limits. It said the central commercial challenge has long been how to get people with different roles, uneven information and differing incentives to work toward a shared goal, and that software and internet-native protocols are cutting the costs once associated with layered management, bureaucracy and intermediation inside traditional firms.