Ledger is investigating reports of lost funds involving customers in Southeast Asia who bought devices through reseller CryptoBilis. The company asked CryptoBilis to pause sales and told recent buyers to avoid setting up unused devices or move funds to a new signer and seed if already configured.

Onchain researchers initially traced more than $72 million in suspected losses, with a later estimate topping $86 million. The total and exact cause have not been confirmed, though investigators are examining whether compromised or tampered devices could be involved.

Wallets linked to the U.S. government deposited 17,733 BTC worth roughly $1.48 billion and another 750 WBTC worth about $62 million into Coinbase Prime over three days. Bitcoin fell nearly 7% over the same stretch.

The destination naturally raised questions about a potential sale, but there is no confirmation that the government sold the coins. A transfer to Coinbase Prime can also reflect custody or internal asset management, so the movement matters more than the speculation around it.

The CFTC opened a new rulemaking process for retail crypto transactions, seeking public comment on a federal framework covering leveraged, margined and financed crypto trading under its existing Commodity Exchange Act authority.

Chairman Michael Selig says Congress considered broader market-structure legislation but failed to send a bill to the president. The agency is now moving within the authority it says it already has, beginning with proposed rules for crypto markets rather than waiting for Congress to finish the larger framework.

Bitcoin slid from the $87,000 area toward $82,000 this week as rising oil prices, Treasury yields and a stronger dollar pressured risk assets. The move also triggered a sharp derivatives reset.

More than $1.17 billion in leveraged Bitcoin longs were liquidated during the selloff, the largest long-liquidation event since early June. Futures positioning had already been relatively subdued, so the drop cleared out another layer of speculative leverage without pushing Bitcoin back toward its summer lows.

Bitcoin is closing in on $100,000 as the bond market breaks, inflation becomes part of Washington’s debt strategy, and real demand collides with Bitcoin’s fixed supply. With Treasury yields surging, leverage falling, whales holding, and AI potentially making labor abundant while Bitcoin stays scarce, the window to accumulate cheap Bitcoin may be closing faster than anyone expects.