SEC Meets on Crypto Rules as Miners Pivot and Trezor Leak Rattles Users

Bitcoin slipped to $62,907 on Thursday morning, falling below its daily EMA20, EMA50, and EMA200 moving averages as the Fear and Greed Index registered 29, deep in fear territory. Despite the spot price weakness, Bitcoin ETF inflows reached $850M, suggesting institutional demand has not fully retreated even as the broader $2.247 trillion crypto market shed nearly 1% over 24 hours.

The regulatory calendar is commanding as much attention as price action. Russia's Central Bank, under Governor Elvira Nabiullina, approved only three digital assets for public exchange trading: Bitcoin, Ether, and Tether's USDT, while excluding XRP despite its market size. Separately, the SEC scheduled an open meeting for today, August 14, to consider new rules that would allow crypto projects to raise capital without registering securities, with Chair Paul Atkins advancing a startup exemption granting developers up to four years of regulatory runway to achieve network decentralization.

Miners Retrench as Hardware Wallet Users Face New Security Risk

On the mining front, public Bitcoin miners cut hashrate by 13.4% as operators repurpose power and data centers for AI and high-performance computing revenue. The economic shift is reshaping the sector, with Bullish shares jumping 10% after adjusted EBITDA more than tripled, even as the broader mining community absorbs the costs of pivoting away from proof-of-work infrastructure.

A separate security story is weighing on hardware wallet users. Trezor confirmed that its shipping partner ShipMonk suffered unauthorized access via a Metabase SQL injection zero-day, exposing names, emails, phone numbers, and addresses for 11,742 customers in full and 1,947 more partially. Chainalysis has already placed physical crypto theft above $30M in the first half of 2026, and security researchers warn the leaked address data repeats the same vulnerability that fueled ransom demands and violence following the Ledger breach of 2020. The CFTC is set to hold its Innovation Advisory Committee on August 20 to address crypto assets, AI, and prediction markets as regulators race to keep pace with an industry where the threats are no longer purely digital.