The Daily: Bitcoin hits new all-time high, American tourist claims fake Uber driver stole BTC and XRP using 'Devil's Breath,' and more

The following article is adapted from The Block’s newsletter,  The Daily , which comes out on weekday afternoons.

Happy Wednesday! Crypto funding is heating up again as Sam Altman's eyeball-scanning ID project World picks up $135 million from Andreessen Horowitz and Bain Capital Crypto via WLD token sales for network expansion.

In today's newsletter, bitcoin hits a fresh all-time high, an American tourist claims a fake Uber driver stole $123,000 in BTC and XRP from him, Hong Kong passes a stablecoin bill amid U.S. progress, and more.

Meanwhile, Coinbase reveals 69,461 users were affected by its December 2024 data heist.

Let's get started.

Bitcoin hits a new all-time high

Bitcoin briefly hit a new all-time high near $110,000 on Wednesday, rebounding sharply from its April lows below $75,000, and tracking a broader risk asset recovery.

• The previous record for the foremost cryptocurrency was around $109,358 on Coinbase, set on Jan. 21 — the same day as President Donald Trump's inauguration.
• Bitfinex Head of Derivatives Jag Kooner said the new high arrived following "a near-flawless setup" backed by geopolitical de-escalation, an improved regulatory environment, and macro tailwinds, while hinting at a move toward $114,000 to $120,00 in the coming weeks.
• Standard Chartered Head of Digital Assets Research Geoffrey Kendrick also sees further upside, projecting a $200,000 target for bitcoin by the end of the year.
• Meanwhile, analysts at K33 recently declared a "hold in May and stay" mantra for the bitcoin market, suggesting that 2025 will defy typical summer slowdowns.
• CryptoQuant CEO Ki Young Ju seemingly agrees, reversing his earlier bearish stance and suggesting that "it's time to throw out that cycle theory" as bitcoin merges with TradFi.

American tourist claims $123K in bitcoin and XRP stolen in fake Uber 'Devil's Breath' attack in London

An American tourist, Jacob Irwin-Cline, claims a fake Uber driver stole $123,000 in bitcoin and XRP from him after a night out in Soho.

• The 30-year-old former software developer from Portland, Oregon, believes the driver spiked a cigarette offered to him with scopolamine — a powerful sedative known as "Devil's Breath" — causing memory blackouts and extreme suggestibility.
• The attacker allegedly tricked Irwin-Cline into handing over his phone and app passwords before dumping him in a London suburb.
• He later found his crypto wallets drained and his laptop remotely wiped, with some funds traced to crypto exchanges MEXC and BTSE.
• The City of London Police confirmed it is investigating the incident, but Irwin-Cline thinks there's a "less than 1% chance" he will be able to get any of the money back.

Hong Kong passes stablecoin bill to establish licensing regime amid global competition

Hong Kong's Legislative Council officially passed its stablecoin bill , requiring fiat-referenced issuers to obtain a license from the Hong Kong Monetary Authority.

• The new law enforces strict requirements on reserve management, redemption mechanisms, AML compliance, client asset segregation, and value stabilization to ensure issuer accountability.
• The bill will come into effect later this year to allow sufficient time for the industry to understand the requirements under the licensing regime.
• The HKMA said it plans to hold additional consultations on the detailed regulatory framework.
• Meanwhile, a stablecoin bill in the U.S. could pave the way for a multi-year crypto bull market , according to Bitwise CIO Matt Hougan.

Ramaswamy's Strive eyes 75,000 BTC in Mt. Gox claims amid bitcoin treasury push

Strive Enterprises, an asset manager co-founded by Vivek Ramaswamy, is targeting 75,000 BTC ($8 billion) in distressed Mt. Gox claims as part of a broader push to build a discounted bitcoin treasury.

• In an SEC filing, the firm said it has partnered with 117 Castell Advisory Group to scout legally confirmed claims, aiming to boost its bitcoin per share for long-term outperformance.
• Strive plans to merge with Nasdaq-listed Asset Entities to form the first publicly traded bitcoin-focused asset manager, pending shareholder approval.
• The move places Strive alongside firms like Strategy and Metaplanet in adopting aggressive corporate bitcoin accumulation plans.

Solana Mobile unveils SKR token plans, confirms Seeker shipping date

Solana Mobile, a subsidiary of blockchain developer Solana Labs, unveiled its native SKR token on Wednesday, designed to power economics, incentives, and ownership.

• Alongside the token, the project introduced its TEEPIN architecture to support Solana Mobile's expansion to more hardware makers and decentralize its web3 ecosystem.
• Solana Mobile also confirmed its highly anticipated second crypto smartphone, Seeker, will begin shipping on Aug. 4 following over 150,000 presales across 57 countries.

In the next 24 hours

• U.S. jobless claims data are released at 8:30 a.m. ET on Thursday.
• U.S. FOMC member John Williams will speak at 2 p.m.
• Solana Accelerate continues in New York.

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