Dear PointPay Family,
A new week - new developments! We’ve compiled a list of the top 5 key changes across the entire crypto space this week. Stay up to date and don’t miss anything important with our roundup!
Former Bitcoin Mining Giant Poolin Files For Bankruptcy
Poolin, once the world's largest Bitcoin mining pool, has filed for bankruptcy after years of financial struggles. At its peak, the company controlled nearly one-fifth of Bitcoin's global hashrate, but a liquidity crisis left thousands of customers unable to access their funds and severely damaged its business.
The company now faces approximately $173 million in liabilities, while creditors have limited recovery prospects. A proposed $52 million sale of Poolin's mining facilities in Texas currently represents the primary opportunity to recover part of the outstanding debt.
Strategy Extends Bitcoin Buying Pause Despite Market Stability
Strategy has gone another week without purchasing Bitcoin, marking its longest break from accumulation since launching its aggressive buying strategy. The company continues to hold 843,775 BTC, even as its position remains significantly below its average acquisition price.
While Bitcoin has stabilized around the $65,000 level, analysts note that long-term investors are moving fewer coins than at any point in recent years, suggesting reduced selling pressure. Combined with ongoing institutional interest, some market participants believe these trends could support a stronger recovery despite Strategy's temporary pause.
Bridge Exploits Trigger More Than $31 Million In Crypto Losses
Two blockchain bridge protocols suffered major security breaches within hours of each other, resulting in combined losses of nearly $32 million. One incident stemmed from a social engineering attack that compromised critical development and validation systems, while the second allowed unsupported asset withdrawals after verification controls failed.
Adding to the concerns, the B² protocol suspended its staking service after unauthorized access was detected within its upgrade infrastructure. The platform has temporarily switched to manual withdrawal requests while security reviews remain underway.
CLARITY Act Vote Likely Delayed Until After Elections
The US CLARITY Act is expected to face another postponement after lawmakers indicated the legislation is unlikely to advance before the August congressional recess. Attention is now shifting toward a possible vote later in the year, when election-related pressures are expected to ease.
Despite the delay, industry experts believe the bill continues to enjoy bipartisan backing. Political priorities, rather than declining support, are viewed as the main reason for the slower legislative timeline.
Ethereum Shifts Focus As Perpetual Futures Trading Expands
Ethereum is taking on a new role in the rapidly growing decentralized perpetual futures market. Instead of competing directly with faster blockchain networks, Ethereum is increasingly serving as the settlement and collateral layer, while high-speed trading activity moves to layer-2 networks such as Arbitrum and Base.
Purpose-built platforms and alternative blockchains continue to attract traders with lower fees and faster execution, but Ethereum's ecosystem remains central to liquidity, stablecoins, and decentralized finance infrastructure. As institutional participation grows, many developers see Ethereum's long-term strength in supporting the broader onchain financial system rather than processing every trade itself.
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