Evercode Lab Monthly Crypto News Digest – August ’26

Bitcoin Returns Above $80K After a Sharp August Rebound

Bitcoin reversed course in the second half of August, climbing from around $64,000 early in the month to briefly above $81,000, its highest level since May. Market sentiment changed just as quickly. The Crypto Fear & Greed Index touched 27 in Extreme Fear on Aug. 12 and reached 74 in Greed just in 2 weeks.

The rally accelerated after the U.S. Treasury announced that it would at least double the size of liquidity-support buybacks for longer-dated government debt, from $2 billion to $4 billion per operation. Long-term yields initially fell and the dollar weakened, helping Bitcoin move higher. A large short squeeze added momentum as rising prices forced bearish positions to close.

Demand continued after the initial squeeze. U.S. spot Bitcoin ETFs recorded eight consecutive sessions of net inflows from August 17 through August 26, totaling about $2.8 billion. That sustained buying helped Bitcoin hold around the $80,000 area after the first breakout and showed that the move was attracting fresh capital beyond forced liquidations.

CLARITY Act Moves Closer to a Senate Vote

The CLARITY Act took another step forward in August after Senate Majority Leader John Thune filed cloture on the motion to proceed with the bill. The procedural vote is scheduled for September 15 and would require 60 votes to advance the legislation to debate. It would not mean the bill has passed, as amendments and a final Senate vote could still follow.

The bill is intended to create a clearer U.S. market structure for digital assets and define how responsibilities are divided between the SEC and CFTC. Supporters see it as a way to reduce regulatory uncertainty, while Senate Democrats have raised concerns about consumer protection and financial risks. The September vote will show whether the bill has enough bipartisan support to move further.

Tether Completes Its First Full Financial Audit

On August 13, Tether announced the completion of its first full independent audit of Tether International’s financial statements. KPMG U.S. audited the company’s 2025 accounts and issued an unqualified opinion, meaning the statements were fairly presented in all material respects under U.S. GAAP. The audited figures showed Tether’s reserves exceeding liabilities by approximately $6.8 billion at the end of 2025. KPMG separately confirmed that it issued the opinion.

The audit goes further than the quarterly reserve attestations Tether has published for years because it covered the company’s complete financial statements and the evidence supporting them. Tether says KPMG also physically inspected its gold holdings during the process. The audited financial statements and KPMG’s full report remain private, so the underlying documents cannot be reviewed publicly.

Revolut Starts Rolling Out Its Euro Stablecoin EURR

Revolut began rolling out EURR, a euro-backed stablecoin available to selected customers in Europe. The token can be converted from euros inside the Revolut app and used outside the platform through supported blockchain wallets. A broader rollout across the EEA is planned later.

Revolut is not the legal issuer of EURR. The stablecoin is issued by Bridge Building, part of Stripe-owned Bridge, under Europe’s MiCA framework. Revolut provides the distribution layer and user access. Circulation was still very small at launch, so the bigger story is Revolut putting a regulated euro stablecoin directly in front of its existing customer base rather than EURR already reaching significant scale.

Coldcard Flaw Exposes Over $110M in Bitcoin Theft

A flaw in Coldcard’s seed-generation process has been linked to one of the largest crypto thefts of 2026. Some wallets created with affected firmware could generate recovery seeds with much weaker randomness than intended, allowing attackers to reconstruct private keys without having physical access to the device.

Researchers had confirmed the theft of more than 1,700 BTC worth over $110 million. Broader estimates put potential losses above $150 million. Coldcard has released patched firmware, but wallets created with an affected seed still need to generate a new one and move their funds.

39 U.S. Banking Associations Plan Their Own Blockchain

On August 25, 39 U.S. state banking associations formed the BankChain Alliance to build a blockchain network owned by participating banks. The project is aimed largely at regional and community banks that want shared access to blockchain infrastructure.

The network could support tokenized deposits and blockchain-based payments, with a launch targeted for 2027. BankChain has not selected a technology partner yet, so development is still at an early stage. If launched as planned, participating banks would have direct ownership of the network they use.

That’s a Wrap!

August ended on a much stronger note than it began, giving us a lot to talk about on crypto news. Confidence returned to the market, while several developments that had been building for months finally moved forward.

Thanks for reading our monthly crypto news roundup!