Author: John Smith
President Donald Trump’s crypto income disclosure has intensified Senate ethics demands as lawmakers debate the CLARITY Act. Summary Gillibrand wants lawmakers and their spouses barred from issuing or promoting crypto memecoins. Trump’s $1.4 billion crypto income disclosure has intensified the Senate ethics debate. Ethics provisions remain a key sticking point in ongoing CLARITY Act negotiations. In a Friday notice, Sen. Kirsten Gillibrand reiterated her call for a ban on members of Congress and their spouses issuing or promoting crypto memecoins after President Trump disclosed about $1.4 billion in crypto-related income for 2025. “This is a commonsense requirement that should get…
South Korean crypto exchange Upbit has rejected claims that it is participating in the issuance of Open USD after being listed among more than 140 organizations associated with the proposed stablecoin. Summary Upbit says it is not participating in Open USD issuance despite Dunamu being listed by Open Standard. Samsung, Shinhan, and K-Bank have also said they have not formally agreed to join the stablecoin initiative. Unfinished South Korean stablecoin rules continue to delay firm commitments from potential participants. According to a statement issued by Upbit, the exchange has not agreed to issue or help launch the dollar-backed stablecoin, despite…
Robinhood has emerged as a key platform in the rollout of the Trump Accounts program, with U.S. Treasury-backed child investment accounts scheduled to begin transfers ahead of the initiative’s July 4 launch. Summary Robinhood is expected to help roll out the Trump Accounts program ahead of its July 4 launch. Eligible children will receive a $1,000 government contribution, with annual private contributions capped at $5,000. Trump also floated a possible SpaceX stock donation, though neither Elon Musk nor SpaceX has confirmed any plans. According to information surrounding the program, Robinhood is expected to help facilitate the new accounts, which are…
Shielded Labs has raised the possibility of delaying Zcash’s Ironwood network upgrade, citing readiness concerns among exchanges, mining pools and wallet providers ahead of the planned late July activation. Summary Shielded Labs says Zcash’s Ironwood upgrade may be delayed as ecosystem participants need more preparation time. Exchanges, wallets and mining pools are simultaneously migrating from zcashd to the new Z3 software stack. Ironwood is designed to secure Zcash’s shielded supply after the Orchard “infinity” bug was disclosed. According to a July 3 X post on the Zcash community forum by Shielded Labs executive director Jason McGee, the network is attempting…
Gnosis Pay has revealed that a software flaw dating back to October 2023 enabled the $1.5 million exploit of its card safe infrastructure, while confirming that all affected users have been fully reimbursed. Summary Gnosis Pay traced its $1.5 million hack to a Zodiac software flaw that had existed since October 2023. The company reimbursed all affected users, restored services within days, and continues recovering about $300,000. The incident adds to growing scrutiny of crypto security as firms and governments respond to rising cyber threats. According to a postmortem published by Gnosis Pay on Friday, the vulnerability was traced to…
The CLARITY Act has regained momentum after Senator Bill Hagerty outlined a revised Senate timeline that points to floor action after lawmakers return from the July recess. Summary Bill Hagerty said the Senate could release the final CLARITY Act text this weekend before a post-recess vote. Bloomberg Intelligence now estimates the bill has about a 60% chance of passing this month. NOBLE backed the legislation, while the DOJ disputed claims that it would weaken crypto crime enforcement. According to reports citing Senator Bill Hagerty, the U.S. Senate is expected to publish the final text of the CLARITY Act this weekend,…
Bitwise has strengthened its proposed spot NEAR ETF with a staking feature in a new SEC filing, helping drive NEAR nearly 12% higher as the token broke above a multi-week downtrend. Summary Bitwise has updated its proposed spot NEAR ETF, adding staking while naming NYSE Arca, BNY Mellon, and Coinbase Custody in the filing. NEAR jumped nearly 12% as the ETF amendment coincided with a breakout above multi-week descending resistance and improving momentum indicators. Analyst Michaël van de Poppe expects further upside if key support holds, while Grayscale has also advanced its own NEAR ETF proposal. According to a revised…
SpaceX stock has climbed after President Donald Trump said he believes Elon Musk may contribute SpaceX shares to the Trump Accounts program, adding to optimism ahead of the company’s expected Nasdaq-100 inclusion. Summary SpaceX stock rose 3% after Donald Trump said he believes Elon Musk may support the Trump Accounts program with SpaceX shares. Investors continue to watch SpaceX’s expected Nasdaq-100 entry on July 7, which JPMorgan estimates could trigger about $4.3 billion in passive buying. ARK Invest expanded its SpaceX holdings, while Citadel Securities warned that higher interest rates could pressure high-growth stocks. According to market data, SpaceX ticker…
The biggest sporting event on Earth has become the biggest liquidity event in prediction market history. Billions in tournament volume, a $45 billion June across the sector, one very expensive longshot trap, and a CFTC probe arriving right on schedule. Summary Polymarket processed about $5 billion in World Cup trading as the tournament drove prediction market volumes to record highs across the sector. The expanded World Cup format and deeper liquidity pushed crypto based event markets into mainstream scale while attracting a large wave of first time users. The surge in activity also brought regulatory scrutiny and raised questions over…
Several major South Korean companies have said they were listed as members of the Open USD (OUSD) stablecoin alliance despite not formally agreeing to participate. Summary Several South Korean companies said they did not formally join the Open USD alliance despite being listed as members. Companies including Samsung Electronics and Dunamu said they had only discussed possible participation and had not made any commitment. Open Standard said OUSD will let participating firms share reserve income through a consortium based stablecoin model. According to a report by Chosun Biz, several Korean companies named as participants in the Open USD consortium said…