News linked to both this project and an event.
Odaily reports: Bitcoin News posted on X platform stating that Coinbase Vice Chairman Ryan VanGrack said clear regulatory rules for cryptocurrency will be introduced, whether through Congress or regulators. During an appearance on CNBC, VanGrack stated that the over 600-page CLARITY Act is closer than ever to gaining bipartisan support, with backing from law enforcement groups, Wall Street firms, and crypto voters. He also noted that the SEC and CFTC have made it clear that new rules will be introduced regardless, adding that "now is the time to choose policy over politics and get this done."
Odaily News: U.S. Treasury Secretary Scott Bessent posted on X' platform, stating: The CLARITY Act is crucial to ensuring the United States wins the global new technology race. This is also why Congress passed the GENIUS Act, aimed at ensuring that stablecoin infrastructure—this revolutionary financial technology—is built in the United States.Bessent stated that ensuring the continued prosperity of the U.S. community banking sector has been a consistent focus since he took office. The government's dual emphasis on promoting the development of new digital technologies and appropriately adjusting community bank regulation is key to both sectors jointly driving U.S. economic growth. The final draft of the CLARITY Act advances this mission by granting the Treasury Secretary additional authority to take action when deposit outflow facts change and adversely affect community banks.Bessent said: If stablecoins cause harm to community banks, he will not hesitate to use these tools to ensure they are fully protected. Community banks are vital to U.S. economic performance and Main Street growth. Economic security is national security, and community banks play an important role in this principle.
According to CoinDesk, the Senate is set to vote on the Digital Asset Market Clarity Act (CLARITY), with analysts predicting that even if the bill fails, Wall Street's expansion in crypto business related to tokenization and ETFs has already become irreversible.
Odaily reports: Tom Lee, Chairman of Ethereum treasury company Bitmine, stated that ETH has multiple bullish catalysts in the coming months, laying the foundation for an expected surge in institutional buying of cryptocurrencies in the final months of 2026. These include the scheduled CLARITY Act vote in mid-September, South Korean investors re-entering crypto assets and rotating from AI stocks into the crypto market, and the "four-year cycle" pattern.Tom Lee further noted that the ETH/BTC ratio has risen to its highest level since January 30 of this year, breaking above the trendline formed since the pandemic-era peak and establishing a new uptrend. This reflects Ethereum's strengthening position as settlement infrastructure for Wall Street asset tokenization, while the market is increasingly recognizing that Ethereum may play a key role in the Agentic AI space. (PRNewswire)
According to The Wall Street Journal, prediction market platform Kalshi plans to seek U.S. regulatory approval to launch perpetual contracts on approximately 60 stocks and ETFs, including Tesla, Apple, and Nvidia, with round-the-clock trading enabled. If approved, they would become the first regulated single-stock perpetual contracts in the U.S.
Odaily News: Robinhood Markets has officially served as an IPO underwriter for the first time, participating in the listing of smart ring maker Oura. Oura filed for its IPO last Thursday, with an expected listing valuation exceeding $11 billion. Goldman Sachs, Morgan Stanley, and JPMorgan are serving as the lead book-runners for the deal, with Robinhood ranking 18th among the 18 underwriters.In June of this year, Robinhood received regulatory approval to conduct underwriting business, and CEO Vlad Tenev previously stated his desire to "disrupt" the IPO market. As an underwriter, Robinhood is expected to gain more influence in the allocation of IPO shares to its retail clients. (The Wall Street Journal)
According to The Wall Street Journal, Hunter Biden, son of former U.S. President Joe Biden, will launch a meme coin named LAPTOP, referencing his laptop incident, scheduled to go live on Coinbase’s Base network on September 9. The project’s founding team, including Hunter Biden, will hold 30% of the total token supply (1 billion tokens), which will be locked for six months and fully unlocked over two years. Another 20% will be airdropped in two batches to users who previously suffered losses on the Trump meme coin TRUMP, Hunter Biden’s Substack subscribers and their friends, and mailing list subscribers maintained by video journalist Andrew Callaghan. The remaining 20% will be allocated to charitable donations, liquidity provisions, distribution to exchange partners and market makers, and to cover the accounting, legal, administrative, and compliance costs of the token foundation.
According to The Block, multiple crypto companies are actively lobbying the U.S. Securities and Exchange Commission (SEC) to expedite the ETF review process and allow the submission of confidential draft filings. Among them, Grayscale has explicitly requested that SEC staff commit to responding within 45 days. However, Jane Street and Charles Schwab have expressed reservations regarding this, voicing concerns about rushing the listing process and the confidential filing mechanism.
Odaily News The U.S. Securities and Exchange Commission (SEC) has published responses to its request for comments on "Novel ETFs," funds that may hold crypto assets or employ unconventional strategies. The divergence in opinions centers on whether filing documents should remain public before the fund begins trading, and how fast the review process should be.Crypto asset manager Grayscale and the crypto policy organization Crypto Council for Innovation (CCI) support an optional confidential filing period to reduce the likelihood of competitors submitting imitation filings. Charles Schwab opposes full confidentiality and suggests disclosing filings at least 75 days before a fund launches.Grayscale requests the SEC to respond within 45 days, while CCI argues that the confidential process should not extend the automatic effectiveness or review deadlines. Venture capital firm Andreessen Horowitz (A16z) supports shortening the review timeline but emphasizes that the rigor of the review should not be reduced. Trading firm Jane Street, however, contends that accelerating the process could lead to lower product quality, competitiveness, and liquidity.The U.S. currently has 174 ETFs related to crypto assets. BlackRock's iShares Bitcoin Trust ETF (IBIT) manages approximately $61 billion in assets, accounting for roughly 38% of the total assets of related ETFs. The SEC will determine whether adjustments will be made to the confidentiality arrangement and review speed of filings. (Bitcoin.com News)
Odaily News Federal Reserve Chairman Warsh is set to deliver one of the most closely watched public speeches since taking office at the Jackson Hole Global Central Bank Symposium. With the U.S. PCE inflation rate still at 3.7%, notably above the Fed's 2% longer-term target, and Treasury yields remaining elevated, the market still lacks a clear picture of when and under what conditions the Fed will further adjust monetary policy. Warsh has long sought to reduce forward guidance and let the market interpret the data on its own, but what Wall Street most wants to know now is precisely his "reaction function." If this speech continues to focus only on long-term issues such as productivity and demographics, the bond market may interpret the silence itself as a policy signal.Currently, the market estimates about a one-third probability of a Fed rate hike in September. As Warsh has deliberately downplayed traditional forward guidance since taking office, the focus of this speech will center on how he assesses inflation, and what changes in inflation, employment, and economic growth would prompt rate hikes, rate cuts, or maintaining rates unchanged. Market participants believe that if Warsh signals a clearer hawkish stance, it could further push up short-term rates and Treasury yields; if he avoids the current policy path and focuses more on long-term topics like productivity and AI, it may be interpreted by the market as a dovish signal.In addition, AI's impact on inflation could also be a focal point of this speech. Warsh has long been bullish on AI boosting productivity and helping lower long-term inflation, but the market believes the current AI investment boom is also driving up costs for construction labor and computer chips. This Jackson Hole speech could become a key moment for reshaping September policy expectations and global bond market pricing. (The Street)
According to Odaily, Nick Timiraos, the Wall Street Journal reporter known as the "Fed whisperer," analyzes in his latest article that Fed Chair Kevin Warsh's first major speech at Jackson Hole this week will face a core question: whether persistently high U.S. inflation is caused by one-off shocks like tariffs and wars, or whether the economy itself remains overheated.This judgment will directly determine the direction of interest rates, and it is also the biggest disagreement within the Federal Reserve currently. At the July meeting, three officials supported a rate hike, and other officials have also signaled the possibility of further tightening, while Warsh has yet to take a clear stance. Since taking office, he has deliberately reduced policy guidance, and now both the market and his Fed colleagues are waiting for his first systematic explanation of his views.The key to Warsh's tenure ultimately depends on how he explains why previous policies failed to bring inflation back to 2%. If the rate cuts and pro-employment policies of the past two years were themselves mistakes, because the labor market was actually stronger than the Fed had judged, then Warsh would need to push for reversing the rate cuts. However, this would conflict with the stance previously taken by Trump and Bessent, who had called for further rate cuts.
According to Reuters, the U.S. SEC is investigating AI hedge fund Situational Awareness's trading activities and high-leverage positions during the market turmoil in July, and has issued subpoenas to Wall Street banks including Goldman Sachs, JPMorgan, Citigroup, and Bank of America, requiring them to provide information related to the fund's trades and financing. Situational Awareness was founded by former OpenAI researcher Leopold Aschenbrenner, who previously worked at FTX Future Fund, with assets under management briefly exceeding $20 billion. In July, the fund suffered a monthly loss of approximately 67% due to declines in AI and chip stocks, and was subsequently forced to sell most of its public equity portfolio to Citadel.
The U.S. SEC is investigating the near-collapse of AI hedge fund Situational Awareness and has issued subpoenas to related Wall Street banks. The fund previously managed over $30 billion in assets and was recently forced to liquidate its positions at a discount to Citadel due to market volatility.
Odaily News: Duquesne Family Office founder Stanley Druckenmiller purchased 4.1 million shares of high-performance computing company Bitdeer Technologies Group (BTDR) in the second quarter, with a position value exceeding $64.7 million and an average purchase price of $12.26. The company produces cryptocurrency mining hardware and operates data centers in the United States and other regions.Additionally, Druckenmiller bought 2.9 million shares of Hyperliquid Strategies (PURR), a digital asset treasury company in the HYPE sector, with a position value of $23.1 million, gaining indirect exposure to HYPE. Hyperliquid Strategies aims to provide U.S. and institutional investors with investment channels related to the HYPE token.Druckenmiller's moves are similar to concurrent increases in BTDR positions by Jane Street and Citadel, with Jane Street currently holding over $112 million worth of BTDR shares. BlackRock, State Street, and Citadel also increased their PURR holdings in the second quarter; HYPE previously hit an all-time high following related compliance progress news. (Bitcoin.com News)
Odaily News: Cantor Fitzgerald has announced that it will open access to the prediction market platform Kalshi for institutional investors, providing event contract trading services to its approximately 3,000 institutional clients, including family offices and hedge funds.According to The Wall Street Journal, Cantor Fitzgerald will act as a broker arranging block trades for institutional clients, enabling them to participate in "yes/no" contract trading based on real-world event outcomes offered by Kalshi. The trading instruments cover multiple areas, including weather forecasts, commodity price trends, and corporate performance.This partnership marks the further entry of traditional financial institutions into the prediction market space. Kalshi is an event trading platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), where users can bet via contracts on whether specific events will occur, such as economic data releases, policy changes, weather conditions, and business events.In recent years, prediction markets have drawn attention from investors, with proponents arguing that they can reflect collective expectations through market prices and provide risk hedging tools for businesses and investment institutions. However, regulators and some market participants have also continued to scrutinize the boundary between these markets and gambling. (WSJ)
Odaily News In a recent interview on Cointelegraph's program Chain Reaction, Lucas Sum, Head of Stock Market Development at Gate, stated that crypto and stocks are quietly converging and increasingly becoming part of the same macro trade. He pointed out that the correlation between the crypto market and the Nasdaq index is currently higher than the five-year average, with the correlation coefficient once exceeding 0.8. Market sentiment is generally cautious at present, with more funds staying in low-risk assets such as stablecoins, as investors await clearer catalysts.Lucas Sum believes that the core narrative of the next market cycle may no longer be "crypto vs. Wall Street," but rather traditional financial assets accelerating their entry into the digital financial system through on-chain infrastructure. The scale of RWA has grown from approximately $12 billion a year ago to over $30 billion, while the scale of tokenized U.S. Treasury bonds has also reached approximately $15 billion, indicating that on-chain financial infrastructure continues to expand. Meanwhile, macro liquidity, real yields, and regulatory clarity remain key factors influencing the performance of risk assets. Against this backdrop, investors' focus is shifting from single-asset allocation to coordinated allocation across multiple asset classes. Lucas Sum noted that Gate is continuously expanding its stock business, currently covering U.S., Hong Kong, and Korean stock markets, with plans to extend further into more global markets to provide the necessary infrastructure for multi-asset investment.
Odaily News: As Wall Street and global financial institutions accelerate their entry into the digital asset space, the boundaries between traditional finance (TradFi) and decentralized finance (DeFi) are gradually blurring. Bitwise CEO Hunter Horsley stated that the era of "going long Bitcoin and short bankers" is over, and financial institutions are pivoting to the other side of the crypto industry, driving digital asset adoption.Hunter Horsley noted that this summer, two financial institutions, each managing over $1 trillion in assets, approved the launch of crypto products in a bear market environment, showing that large institutions are expanding client access to digital assets. "Everyone put on the crypto jersey this year. Now, everyone is working for the crypto industry," Horsley said. He pointed out that these institutions, managing over a trillion dollars in client assets, would not have opened such services during the 2022 crypto market downturn, but are now actively embracing this sector.Fabian Dori, Chief Investment Officer at Sygnum, also believes the relationship between banks and the crypto industry has undergone a structural shift. "The trade of 'going long Bitcoin and short bankers' is over. Banks have moved from resisting digital assets to building, supporting, and distributing them through custody, tokenization, and compliant trading," a change driven primarily by growing client demand and gradually clarifying regulatory rules, rather than short-term market cycles.Nathan McCauley, CEO of Anchorage Digital, said that over the past two years, its client base has increasingly reflected the convergence of traditional and crypto finance. Large financial institutions typically choose to partner with specialized crypto infrastructure companies rather than building their own technology systems.In recent years, a growing number of financial institutions have entered the crypto space, including Swissquote, DBS Bank, BBVA, BNY Mellon, Credit Suisse-affiliated entities, as well as Morgan Stanley and Charles Schwab. (CoinDesk)
Crypto startups completed USD 11.2 billion in funding in the first half of 2026, with all disclosed capital flowing to regulated, licensed enterprises. Payments and stablecoins, prediction markets, exchanges, and trading platforms received the most funding. Major backers include Wall Street and large global financial institutions, whose investment focus is on licensed and compliant companies. Investors and founders increasingly view regulatory licenses as scarce and defensive assets, while retail investors still primarily trade on unlicensed or alternative platforms. (CoinDesk)
Odaily News: Goldman Sachs has disclosed the acquisition of ETF management firm NEOS Investments in a deal valued at up to $2.25 billion, which is expected to close in the first quarter of 2027 pending regulatory approval. The market views this move as a way for Goldman Sachs to quickly enter the Bitcoin yield ETF space, potentially putting it ahead of BlackRock in the Wall Street crypto asset competition.NEOS currently manages approximately $30 billion in assets, with its most notable product being the Bitcoin yield ETF BTCI (NEOS Bitcoin High Income ETF), which holds about $1.1 billion in assets. The fund generates monthly income for investors by holding Bitcoin-related ETFs and selling call options, currently offering a distribution yield of approximately 27%.Bloomberg ETF analyst Eric Balchunas stated that by acquiring NEOS, Goldman Sachs gains BTCI, effectively bypassing the need to build a similar product from scratch and "beating" BlackRock's previously launched Bitcoin yield ETF product, BITA.Goldman Sachs' deal is seen by the market as a new phase in Wall Street's crypto asset positioning. Industry insiders believe that Bitcoin spot ETFs represent the "first phase," while active management products based on Bitcoin, such as yield enhancement and options strategies, will become the focus of competition in the next phase.However, BTCI's high yield comes with risks. The product does not directly hold Bitcoin but instead generates returns by selling call options on Bitcoin-related ETFs, potentially sacrificing some upside when the market rallies. Analysts note that BTCI's net asset value has fallen approximately 43% over the past year, and part of its high distribution yield may come from return of capital.BlackRock has already launched a competing product, BITA, but its current scale is approximately $59 million, significantly lower than BTCI's roughly $1.1 billion in assets. The market is watching whether Goldman Sachs will maintain BTCI's existing structure after the acquisition is completed and further expand its competitive advantage in the Bitcoin yield product market. (Forbes)
According to The Block, the Blockchain Association filed an amicus curiae brief on August 13 supporting Custodia Bank's appeal to the U.S. Supreme Court, requesting a review of the legality of the Federal Reserve Bank's refusal of its master account application. The Blockchain Association pointed out that this case concerns whether legitimate digital asset enterprises can compete in a fair environment, and warned that the lower court ruling provides a precedent for federal regulators "to debank unpopular industries in the future without the intervention of state regulators." Custodia Bank was founded by Wall Street veteran Caitlin Long, applied for a Fed master account in October 2020, was rejected by the Federal Reserve Bank of Kansas City in January 2023 on the grounds that the crypto business model posed risks, subsequently lost twice in the district court and the Tenth Circuit Court of Appeals, and was denied rehearing by the full court in a 7 to 3 vote in March 2026. The Federal Reserve Bank of Kansas City must respond to the Supreme Court application by September 11.