Snipershot⚔️

Crypto Today's Key Updates 🚨 📰 UK's Bank of England holds its key interest rate at 3.75%. 📰 Pavel Durov says Russia labeled him a terrorist over Telegram's refusal to enable mass surveillance and censorship. 📰 Coinbase CEO Brian Armstrong urges Congress to pass the CLARITY Act, saying it's at the "one-yard line." 📰 Binance(.)US plans to seek a CFTC license to launch prediction markets and perpetual futures. 📰 Spain's largest bank, Banco Santander, just reports owning $4.3 million in spot Bitcoin ETFs. 📰 South Korea to implement 20% crypto gains tax from 2027, targeting retail trading impact. Source: MoC

594 BTC worth $38 million was stolen in just 25 minutes. Coinkite says some Coldcard Mk3 wallets running firmware 4.0.1 to 5.0.3 may have created wallet seeds using weak or predictable randomness. Around 500 wallets were emptied across 3 Bitcoin blocks. Wallets without a BIP-39 passphrase were the most exposed. Coinkite has not confirmed that this issue caused the theft. But the warning alone is enough to make many users question the security of a wallet they trusted to protect their Bitcoin. The lesson is simple: Your Bitcoin is only as safe as the private keys protecting it. If those keys are created with weak randomness, even a hardware wallet may not keep your coins safe. Source: Master of Crypto

1 of 2: Binance APAC Head says India needs a rupee stablecoin. Right now, around 99% of all stablecoins are linked to the US dollar. That means every time Indians use USDT or USDC, they're not just using crypto-they're also taking exposure to the USD/INR exchange rate. So what is a rupee stablecoin? It's a digital token where 1 token = ₹1. Just like 1 USDT = $1, a rupee stablecoin would always target ₹1 and run on blockchain. Here's why that matters. Let's say you have ₹1,00,000. Today, $1 = ₹100. You convert your money into 1,000 USDT. A year later, the dollar rises to ₹110. Your 1,000 USDT is now worth ₹1,10,000. It looks like you made ₹10,000. But you didn't. The dollar became stronger against the rupee. Now imagine the opposite. The dollar falls to ₹90. Your 1,000 USDT is now worth only ₹90,000. You lose ₹10,000, even though USDT never moved from $1. That's not crypto risk. That's currency risk. Now look at a rupee stablecoin. You convert ₹1,00,000 into 1,00,000 rupee stablecoins. Whether the dollar moves to ₹90, ₹100, or ₹110, you still have ₹1,00,000. No hidden FX gains. No hidden FX losses.

2 of 2: That's why a rupee stablecoin acts as a hedge against USD/INR fluctuations for people who earn and spend in rupees. Benefits - No USD/INR risk.
- Faster and cheaper payments.
- Better for imports, exports, salaries, freelancers, and remittances.
- More transactions settle in rupees instead of dollars.
- Reduces India's dependence on the US dollar. Challenges - No gains if the dollar gets stronger.
- Needs RBI regulation and fully backed reserves.
- Global adoption will take time. Can it make the rupee stronger? Yes, over time. If Indian traders, businesses, importers, exporters, and remittance companies settle in rupee stablecoins instead of USDT, more transactions will happen in ₹ instead of USD. That increases demand for the rupee, reduces dollar dependence, and can strengthen the rupee's role in global payments. It won't change USD/INR overnight, but alongside strong economic growth and RBI policy, it can become another long-term support for India's currency.

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