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New from BitGo Research: prediction markets have all but called Tuesday’s midterms for Democrats, while BTC options price only a modest Election Day move and longer-dated volatility sits near record lows.
Confident forecasts have missed before, from Brexit to Brazil’s runoff last week. An upset in a few key races could reshape who writes crypto policy, and positioning for a surprise has rarely cost less.
Read the full piece by BitGo's Head or Research @GregCipolaro and follow for more. 👇
Another rough week for risk assets, another reminder of what’s still broken in crypto market structure. @mikebelshe joined @YahooFinance live today to dig into it.
He points to recent exchange breaches as proof the industry hasn’t fully solved a problem institutions have been pushing to fix for years.
Before you deposit with any custodian, ask one question:
If they failed tomorrow, who would own your assets?
BitGo is a federally chartered digital asset bank. Client assets are bankruptcy remote, meaning they stay legally separate from the company’s balance sheet.
More from @halstonvalencia. 👇
BitGo's Ahmed Elmasry joined The Security Table from @OlympixSecurity to talk about where wallet security is headed.
His view is that the challenge has moved from cryptography alone to the full lifecycle of a transaction, from access permissions and approvals through signing.
Digital assets are irreversible, so every layer matters.
Watch now on YouTube.
youtu.be/K9wJRol52aU?si=4d3b…
In case you missed it.
BitGo CEO @mikebelshe live on Yahoo. 👀
finance.yahoo.com/markets/li…
We didn’t think we’d be updating this chart so soon.
Since 2020, the 20 largest hacks account for 64% of the $21.4B stolen across more than 1,100 incidents.
The industry keeps growing, and so do the risks to digital assets, especially as AI gives attackers cost-effective ways to find and exploit a weaknesses.
It's more important than ever to defend proactively, with secure custody built into the foundation of all your operations, no matter the size of your holdings.
Every firm holding client assets should be asking where its single points of failure are today.
This week, another exchange confirmed a significant breach, pulled from hot and warm wallets before withdrawals were paused.
A single compromised system was enough to move the funds, that's the root cause of nearly every major hack.
This pattern has cost the industry and investors dearly, but there are solutions to mitigate these risks in the future.
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Some thoughts on this week's events from our Head of Research @GregCipolaro.
🧵👇
Another week, another hack, and another round of the industry taking stock.
Our thoughts are with the teams working on the recovery.
Moments like this are a chance for all of us to look honestly at how digital assets are protected, because the same story keeps repeating.
Whether you invest as an individual or manage assets for an institution, you deserve to know exactly how your assets are protected.
🧵
When a loss reaches this scale, the ability to make clients whole comes down to two things: how well a firm prevents the incident, and what financial backstop sits behind client assets.
Strong controls reduce the odds of a breach.
Meaningful insurance coverage gives clients protection when a firm’s own balance sheet cannot absorb the loss.
Both belong in any custody evaluation, because a custodian’s promise to cover losses is only as good as its ability to deliver on it.
We’re closely following the security incident at @Binance.
Our thoughts are with the Binance team, a valued partner and friend, as they work through it.
To our clients: BitGo is not impacted. Client assets are secure and it’s business as usual across our platform.
Our team is available around the clock. Reach out anytime.
BitGo’s security team is actively monitoring the reported security incidents. We have identified no indication of a security issue at BitGo at this time.
We are taking steps to freeze USD1 at a specific address identified by World Liberty Financial as having received stolen funds. This targeted action does not affect other USD1 services, which remain active.
We will continue monitoring and provide updates as needed.
BitGo retweeted
there’s a clear difference between real cold storage vs. fake cold storage
real custody vs. fake custody
i’ve stated this on stage for years — “all it takes is one devops laptop to be compromised”
BitGo retweeted
Before BitGo, there was a kid typing game code out of a magazine. @mikebelshe @BitGo
Over crispy chicken wings, Mike Belshe tells Norma how a love of building led him from the early web to Bitcoin custody.
Full episode out now: youtube.com/watch?v=IevahTKT…
#DishingUpBitcoin
BitGo’s security team is actively monitoring the reported security incidents. We have identified no indication of a security issue at BitGo at this time.
We are taking steps to freeze USD1 at a specific address identified by World Liberty Financial as having received stolen funds. This targeted action does not affect other USD1 services, which remain active.
We will continue monitoring and provide updates as needed.
Crypto prices go up. Crypto prices go down.
@wbpeck, Head of Digital Assets at WisdomTree, says that’s just noise he’s learned not to chase.
What he’s watching instead: some of the largest financial institutions in the world building stablecoin links and onchain products since the Genius Act passed. That’s the momentum he thinks actually matters.