Bitcast

Binance just got taken for 6.4 billion dollars in under an hour, the biggest heist in human history, and the crew breaks down exactly how it happened, why Chainalysis is pointing at North Korea, and what it means that even the firm tracking the hackers got hacked too. From there it spirals into treasury-wallet implants, a Bitcoin-only CEO explaining why honeypots are honeypots no matter how big the logo is, and a deep dive into Canada's strange new AI "sovereignty" play. In this episode: • The Binance hack: 6.4 billion dollars drained across multiple chains, 2.8 billion frozen, laundering tied by Chainalysis to North Korea's Lazarus-linked Trader Traitor group • Bitcoin Well CEO Adam joins to explain non-custodial exchange design and why custodial exchanges are "rung two" on the counterparty ladder • Jameson Lopp and River's reactions, plus speculation about CZ, Binance's balance sheet, and the FTX-era parallels • A second hardware wallet scare: a Trezor bought from reseller Cryptobillis found with a hardware implant, same reseller tied to earlier Ledger tampering • Chainalysis, Breaking Voltage and Polymarket all disclosing their own separate breaches in the same news cycle • Mark Karpeles of Mt. Gox weighing in on the Trezor findings • Canada's new national security plan, weak jobs data, and the government's multi-billion dollar stake in AI company Cohere picked apart as a "sovereignty" mirage • A genuinely bizarre local Canadian TV clip on neurodivergence and drag that has to be seen to be believed Watch the video version: https://youtu.be/vK73YZcnlXs

Bitcoin treasury company Data Vault has been trying for four months to pull its Bitcoin off an exchange called Biconomy, and the stock has cratered 88 percent year to date while the crew digs into a company with a shifting headquarters story and a CEO whose public appearances point to Dubai. From there it's a full tour of the week's chaos: a Fed hold with two dissenting hawks, a Coinbase vendor leak hitting 70,000 users, Google wading into crypto custody, and what might be the strangest Bitcoin Core bug disclosure ever filmed. In this episode: • Data Vault's four-month failed Bitcoin withdrawal from Biconomy and the stock's 88 percent year-to-date collapse • Sleuthing Biconomy's murky origins, from "leading Canadian exchange" in 2021 to a British Virgin Islands registration based in Dubai • The Fed holds rates 10-2 with Cook and Hammack dissenting in favor of a hike, plus a contrasting rate hike decision from the Bank of Canada • MSTR shareholders approve daily dividend accrual at 99.3 percent, and a debate over STRC versus STRK pricing and dilution risk • A Coinbase data breach via analytics vendor Amplitude affecting roughly 70,000 users, following prior 2021, 2023 and bribery-related incidents • Google's new crypto custody framework for banks and speculation on its real motive, from data gathering to post-quantum positioning • A bizarre Bitcoin Core inflation bug disclosure delivered as a Seinfeld-style AI-generated bit, plus two medium-severity memory exhaustion vulnerabilities patched • Bitcoin hash rate climbing back near all-time highs despite miners publicly pivoting to AI data centers Watch the video version: https://youtu.be/sQ_0Uf1ifEw

Foundation just confirmed its support inbox got hijacked, spraying over 20,000 phishing emails at customers through a back-end vulnerability, and one guy's "deleted" data showed up in the attack anyway. On top of that, Electrum has a confirmed RBF exploit letting a malicious server swap your transaction and steal funds the moment you bump a fee, Keystone is now the latest hardware wallet maker admitting a breach, and the crew spends the hour arguing about what self-custody even means anymore when AI-assisted attacks are hitting every wallet company in Bitcoin. In this episode: • Foundation's 20,000+ phishing emails after a self-hosted app breach exposed its support inbox, and Zach Herbert's response to customer backlash • Electrum's confirmed RBF vulnerability letting malicious servers hijack fee-bumped transactions, fixed only in version 4.8.3 • Keystone's newly announced data breach, and how it compares to the earlier Cold Card and Ledger incidents • Why the hosts argue AI has made hardware wallet and infrastructure security dramatically harder to guarantee • A debate on whether single-sig self-custody is still responsible advice for newcomers, versus exchanges, Casa multisig or Anchorage-style insured custody • Anthropic's IPO filings showing a 42 billion dollar loss and an 80 billion run rate, plus Microsoft's buyout offer to 60,000 employees • Vitalik Buterin's comments on restricting offensive cyber capabilities in open-weight AI models, and the EA versus e/acc framing the hosts apply to it • Bitcoin Core's policy shift to prioritize AI-discovered vulnerabilities, and a long riff on Michael Saylor, MSTR and STRC heading into the US election Watch the video version: https://youtu.be/WtcS41n-zpQ

A 104,000-certificate revocation from GoDaddy is just the tip of the iceberg tonight, with PHP2Shell being actively exploited in the wild and a Node2Shell flaw hitting the official Node.js image itself. Oil has ripped above 117 a barrel on Iran war fears while gold inexplicably falls below 4000, and the crew gets into a heated, fact-checking takedown of Chamath's "quantum will break Bitcoin" claims with Strive's Adam Livingston joining the conversation. In this episode: • The PHP2Shell and Node2Shell exploits, GoDaddy's mass TLS certificate revocation, and why AWS says it's being actively exploited right now • OpenAI's Codex model (reportedly GPT-5, not 6) surfacing critical vulnerabilities that had sat unpatched for months • Banks detecting unauthorized AI agents accessing customer accounts, and whether that's really about security or about blocking deposit flight • Speculation on whether Coinbase, Kraken and other exchanges are already being probed or compromised and simply not disclosing it • Chamath Palihapitiya's quantum-computing-breaks-Bitcoin claims getting dismantled, with pointed comments about his and Nick Carter's quantum-security investments • Strive's Adam Livingston on Bitcoin's rising correlation with gold, Strive's daily dividend structure, and how it compares to Strategy's STRC/SATS move • The Coinkite Cold Card lawsuit in Ontario and a broader debate on self-custody risk versus ETF and treasury-company exposure • Alberta's independence referendum, the vote turnout numbers, and a side discussion on Texas secession talk with a Minnesota-based guest Watch the video version: https://youtu.be/11Xo4WkkSZo

Bitcoin ripped back above $84,000 on $549 million of ETF inflows in two trading sessions and $50 million in leverage shorts wiped out in 24 hours, and the crew digs into whether this is the real breakout or just a hormonal teenager phase. Joe brings fractal charts comparing this setup to 2022 and late 2019 and calls for a brisk walk to 100K after midterms, while the gang tears into JP Morgan's new decade-long forecast naming Bitcoin the best performing asset of the next ten years, even though the bank still won't put it in its own model portfolios. In this episode: • ETF inflows push Bitcoin above 84K, with chartists calling it a confirmed breakout and Joe debuting his homemade Bitcoin terminal • JP Morgan's decade-ahead forecast names Bitcoin the top performing asset but excludes it from model portfolios, plus the contradictory stance on debasement • Fidelity and Bank of America's small-allocation research and whether pensions and sovereign wealth funds will follow JP Morgan's lead • Anthropic's reported 80 billion dollar loss, AI debt issuance, Google's record bond offering and the growing talk of government backstops for data centers • The economics of AI subscriptions, why frontier labs are racing to cut token costs, and new assistant agents like OpenAI's dot and Anthropic's Duet • The Genius Act, OCC stablecoin rules, the American Bankers Association's pushback, and why stablecoins may force banks to raise yields • Strategy and treasury company talk, including Strive's latest Bitcoin buy, a Clear Street price target on MSTR, and the case for staying long Bitcoin itself • The PHP vulnerability knocking government websites offline across Finland, the Netherlands, France and Canada, and practical security advice on password managers and two factor authentication For the full conversation with charts, terminal screens and all the visual back and forth, check out the video version of this episode. Watch the video version: https://youtu.be/031ks2nfIcw