The U.S. and Japanese governments have acted together to try to prop up the value of the yen on global currency markets. The way they did it contains a clue about U.S. goals — and has some worrying implications for global markets.

The big picture: Headline indicators have been steady across global financial markets this summer. Yet there are some signs of strains beneath the surface, particularly in the form of rising long-term borrowing costs at a time of elevated debt worldwide.

(Continue Reading – Axios)

The U.S. Treasury said on Monday it expects to borrow $739 billion in the third quarter, $68 billion more than it projected in May, as lower projected cash flows were only partly offset by a higher-than-assumed starting cash balance.

Stripping out the benefit of that larger starting cushion, the increase in borrowing needs is $87 billion above the May estimate. The department's quarterly refunding statement assumes a ⁠cash balance of $950 billion at the end of September.

(Continue Reading – Reuters)

Hardware wallets are supposed to be the vault, not the vulnerability. But a newly uncovered firmware defect in Coldcard Mk3 devices has flipped that assumption, with Galaxy Research confirming that 1,367.05 BTC, worth roughly $88.6M, was drained across three coordinated attack waves targeting 4,585 affected addresses.

The scale of the theft is jarring. Earlier estimates had pegged losses at around 594 BTC from approximately 500 addresses. Galaxy’s on-chain analysis more than doubled that figure, revealing a much broader and more methodical assault than initially understood.

The largest single wave hit on July 30, 2026, and it was efficient in the worst possible way. Attackers swept 1,082.65 BTC, roughly $70.2M, in just 41 minutes.

(Continue Reading – Crypto Briefing)

Last week, levels were measured in Cologne in western Germany and in Lobith, where the Rhine crosses from Germany into the Netherlands, that were lower than at any point since records began.

Other major European rivers with important transport, industrial and agricultural functions have also seen record low levels, including the Danube, which flows through 10 countries, and Italy's Po river.

Drought conditions remained stable and critical in most of Europe and worsened in central-western Europe in mid-July, according to the EU's Drought Observatories.

(Continue Reading – BBC)