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Multiple executive changes signal Coinbase's accelerated shift to an all-asset trading platform
Coinbase is undergoing its most significant executive reshuffle in recent years. Chief People Officer Lawrence Brock has stepped down and transitioned to an advisory role; Greg Tusar, co-head of the institutional division, has moved to a policy position; previously, General Counsel Paul Grewal had planned to leave, and Jesse Pollak stepped down as head of the Base app. After cutting 14% of its workforce in May, Coinbase is accelerating its transformation into an all-asset trading platform encompassing stocks and prediction markets.
New Hampshire Signs Blockchain Basic Laws into Effect, Texas Invests Approximately $5 Million to Establish Bitcoin Reserve
, New Hampshire Governor Kelly Ayotte recently signed HB 639, the Blockchain Basic Laws, to increase legal protections for digital asset users, developers, miners, validators, and businesses, and to safeguard digital asset usage and self-custody rights. The bill also authorizes the creation of a dedicated docket for blockchain-related disputes. New Hampshire's 2025 law allows the State Treasurer to invest up to 5% of specific public funds in precious metals and qualifying digital assets, with Bitcoin currently being the only asset meeting the market cap threshold. Texas Governor Greg Abbott signed SB 21 in June 2025, establishing the Texas Strategic Bitcoin Reserve. State lawmakers appropriated $10 million, and Texas subsequently made an initial investment of approximately $5 million via spot Bitcoin ETFs. A 2025 proposal in Wyoming to allow up to 3% of certain state funds to be invested in Bitcoin did not pass. However, the state continues to advance its specialized banking framework and the Frontier Stable Token. FRNT became publicly available in January 2026 and is described as the first state-issued stable token in the United States.
Federal Reserve Announces Leadership and Objectives of Five Major Monetary Policy Task Forces
According to the Federal Reserve's official website, Federal Reserve Chair Kevin Warsh announced on July 9 the establishment of five monetary policy task forces, led jointly by external economists, business leaders, and former central bank officials, operating independently and providing research results to the Federal Open Market Committee (FOMC). The research directions of the five task forces are as follows: • Communication Mechanism: Led by former Governor of the Bank of England Mervyn King and others • Balance Sheet Policy: Led by Harvard University Professor Karen Dynan, University of Chicago Professor Raghuram Rajan, and others • Quality of Economic Data: Led by Harvard University Professor Raj Chetty, former Walmart CEO Doug McMillon, and others • Productivity and Employment: Led by a16z Co-founder Marc Andreessen, Microsoft Xbox CEO Asha Sharma, and others • Inflation Framework: Led by Harvard University Professor and former Chairman of the Council of Economic Advisers Greg Mankiw, Nobel Laureate in Economics Thomas Sargent, and others Warsh stated that the Federal Reserve's commitment to price stability and maximum employment is unwavering, and these task forces aim to evaluate and optimize policy tools and analytical methods to address the current important economic situation.
Kevin Warsh assembles external expert team to review Fed's monetary policy framework
: Federal Reserve Chairman Kevin Warsh has formed five working groups to conduct a comprehensive review of the Fed's monetary policy operational mechanism, covering areas such as balance sheet management, policy tools, and the impact of AI. Each working group will operate independently, conduct fact-based research, and submit analysis results to the Federal Open Market Committee. The team members include multiple economists and former central bank officials. Among them, Harvard University economist Raj Chetty will co-lead the data working group, tech investor Marc Andreessen will be responsible for the productivity and employment working group, and former White House Council of Economic Advisers Chairman Greg Mankiw will co-lead the inflation working group.
US Crypto Market Structure Bill Enters Critical Period: NYDIG Warns June–August Is the Final Legislative Window
Odaily News: Greg Cipolaro, Research Director at financial services firm NYDIG, stated that the most realistic legislative window for the U.S. Senate's crypto market structure bill is June to early August. If progress cannot be made during this period, the bill may face uncertainty extending beyond the midterm elections or even longer.Earlier, White House crypto advisor Patrick Witt had proposed July 4 as an ideal legislative timeline, but NYDIG considers this target overly optimistic. The bill still needs to clear multiple hurdles, including committee review, a full Senate vote, and House procedures.The bill aims to establish a clear regulatory framework for U.S. crypto assets and is regarded as one of the most critical pieces of legislation this year. However, it has faced repeated delays due to disagreements over stablecoin regulation, ethical clauses, and DeFi rules. The Senate Banking Committee has advanced the draft for a full Senate vote, but it still requires at least 60 votes to pass.Analysts point out that if the bill fails to pass before the election cycle, shifts in Republican and Democratic control of the Senate could further reduce legislative certainty, keeping the industry in a state of regulatory ambiguity.However, if the bill is ultimately passed and signed into law, it would bring regulatory clarity to the market. In particular, Bitcoin is expected to be clearly classified as a commodity, thereby reducing uncertainty for institutional entry. (Cointelegraph)
Fairshake-affiliated PAC spends over $986,000 in Michigan Democratic primary race
documents filed by Protect Progress PAC, an affiliate of the crypto-focused political action committee Fairshake, with the U.S. Federal Election Commission (FEC) show that as of Tuesday, it has spent over $986,000 to support current Democratic Representative Shri Thanedar in Michigan’s 13th Congressional District and oppose challenger Donavan McKinney. The expenditure occurs two weeks before the August 4 Democratic primary, which will determine the party’s nominee for the November general election. Protect Progress PAC spent approximately $1 million in 2024 to support Thanedar, who received 54.9% of the vote in that year’s Democratic primary and went on to secure 68.6% of the vote in the November general election. Fairshake and its affiliated organizations report having a $191 million war chest to influence key elections. Other crypto industry-related political action committees include the Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, supported by Anchorage and Chainlink Labs. Protect Progress PAC has also spent over $100,000 to support Arizona Representative Greg Stanton’s re-election. Meanwhile, Defend American Jobs PAC has spent over $65,000 to support Amanda McKinney, the Republican candidate in Washington’s 4th Congressional District.
Yuga Labs Appoints Michael Figge as CEO; Greg Solano Becomes Chairman of the Board
According to The Block, Yuga Labs, the developer behind the Bored Ape Yacht Club (BAYC) collection, has appointed Michael Figge as its new CEO, while former CEO Greg Solano has transitioned to Chairman of the Board. Solano stated that Figge joined the company in 2021 and has served as CEO for several weeks, previously holding the role of Chief Product Officer. This leadership reshuffle coincides with Yuga Labs’ ongoing development of its metaverse project, Otherside. The company describes Otherside as a metaRPG platform enabling players to own digital assets and engage in real-time multiplayer interactions. Moving forward, Solano will continue contributing to creative direction, writing, and the development of new ideas.
Related news
OpenAI Employees Discover After Integrating ChatGPT with Slack: People Are More Willing to Help Humans Than AI
OpenAI co-founder Greg Brockman revealed that many OpenAI employees discovered a phenomenon after integrating ChatGPT into Slack: when a colleague's ChatGPT proactively contacts them to request help, people show significant resistance, even though they would be very willing to assist if the colleague themselves asked directly for the same task. Brockman believes this confirms the value of interpersonal relationships and mutual help, emphasizing that AI should return time to humans or enhance the time spent together, rather than becoming a barrier that separates interpersonal relationships.
Multiple executive changes signal Coinbase's accelerated shift to an all-asset trading platform
Coinbase is undergoing its most significant executive reshuffle in recent years. Chief People Officer Lawrence Brock has stepped down and transitioned to an advisory role; Greg Tusar, co-head of the institutional division, has moved to a policy position; previously, General Counsel Paul Grewal had planned to leave, and Jesse Pollak stepped down as head of the Base app. After cutting 14% of its workforce in May, Coinbase is accelerating its transformation into an all-asset trading platform encompassing stocks and prediction markets.
Fields Medalist Jacob Tsimerman Joins OpenAI
OpenAI 联合创始人 Greg Brockman 宣布，菲尔兹奖得主 Jacob Tsimerman 已加入 OpenAI。Jacob Tsimerman 是数论和算术几何领域的顶尖数学家，曾获数学界最高荣誉之一的菲尔兹奖。此次加入标志着 OpenAI 继续吸纳顶级科学人才，强化其在基础研究领域的布局。
OpenAI President Says Kimi K3 Is "Quite Good", Still Uncertain Whether Distilled from GPT Model
According to Bloomberg, OpenAI President Greg Brockman stated that Moonshot AI has developed a competitive new AI model, Kimi K3, and described it as "quite good." However, he also noted that it remains uncertain whether the Chinese company performed distillation based on OpenAI's GPT models.
Fairshake-affiliated PAC spends over $986,000 in Michigan Democratic primary race
documents filed by Protect Progress PAC, an affiliate of the crypto-focused political action committee Fairshake, with the U.S. Federal Election Commission (FEC) show that as of Tuesday, it has spent over $986,000 to support current Democratic Representative Shri Thanedar in Michigan’s 13th Congressional District and oppose challenger Donavan McKinney. The expenditure occurs two weeks before the August 4 Democratic primary, which will determine the party’s nominee for the November general election. Protect Progress PAC spent approximately $1 million in 2024 to support Thanedar, who received 54.9% of the vote in that year’s Democratic primary and went on to secure 68.6% of the vote in the November general election. Fairshake and its affiliated organizations report having a $191 million war chest to influence key elections. Other crypto industry-related political action committees include the Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, supported by Anchorage and Chainlink Labs. Protect Progress PAC has also spent over $100,000 to support Arizona Representative Greg Stanton’s re-election. Meanwhile, Defend American Jobs PAC has spent over $65,000 to support Amanda McKinney, the Republican candidate in Washington’s 4th Congressional District.
New Hampshire Signs Blockchain Basic Laws into Effect, Texas Invests Approximately $5 Million to Establish Bitcoin Reserve
, New Hampshire Governor Kelly Ayotte recently signed HB 639, the Blockchain Basic Laws, to increase legal protections for digital asset users, developers, miners, validators, and businesses, and to safeguard digital asset usage and self-custody rights. The bill also authorizes the creation of a dedicated docket for blockchain-related disputes. New Hampshire's 2025 law allows the State Treasurer to invest up to 5% of specific public funds in precious metals and qualifying digital assets, with Bitcoin currently being the only asset meeting the market cap threshold. Texas Governor Greg Abbott signed SB 21 in June 2025, establishing the Texas Strategic Bitcoin Reserve. State lawmakers appropriated $10 million, and Texas subsequently made an initial investment of approximately $5 million via spot Bitcoin ETFs. A 2025 proposal in Wyoming to allow up to 3% of certain state funds to be invested in Bitcoin did not pass. However, the state continues to advance its specialized banking framework and the Frontier Stable Token. FRNT became publicly available in January 2026 and is described as the first state-issued stable token in the United States.