Cardano

Hoskinson blamed legacy third-party bridge architecture and pitched ZK proofs as the long-term fix.

Recovery and migration tools are now targeted for August, and no reimbursement plan has been announced.

The upgrade is Cardano’s first hard fork proposed, debated, and ratified entirely through onchain governance voting.

Downloads are halted immediately as the wallet shifts to recovery-phrase export only and warns there will be no migration token or airdrop.

The proposal lands as non-empty wallets rise by 14,783 since June 23 and ADA rebounds to about $0.20.

The platform estimates ~16M ADA was affected and says emergency measures secured ~129M ADA for verified users via third-party custody.

Bitcoin slid for a fourth day as long liquidations piled up and one-week put skews priced a 10%+ volatility premium.

BTC futures open interest rose to 728,000 BTC as funding and CVD stayed negative and Deribit puts priced richer than calls.

Only six constituents were higher in the snapshot, even with BTC up 0.3% and AVAX up 0.6%.