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CLARITY Act Draws Opposition From 18 State Attorneys General Before Senate Vote
The CLARITY Act faces resistance from 18 state attorneys general before a key Senate vote. They say the revised bill would weaken state oversight, despite an ethics concession addressing another hurdle.
Bernstein Says Crypto Market Has Not Priced In a Clarity Act Surprise
Bernstein analysts say crypto markets have not fully priced in a potential Clarity Act surprise. Ethics changes and banking concessions have improved the bill’s prospects, but Democratic support remains uncertain.
BlackRock’s Staking Ethereum ETF Draws Demand, but ETHA Remains the Preferred Fund
September 11 data showed demand for both BlackRock’s ETHA and staking-focused ETHB ETFs. However, investors continued to favor the roughly $9 billion ETHA, while both funds posted similar median spreads.
Hedge funds expanded positions by $400 billion ahead of Bitcoin’s September rate test
Federal Reserve data showed hedge funds added $400 billion to gross exposure in Q2. Crypto spillover remains uncertain, with Bitcoin’s September reaction depending largely on funding stress after the FOMC decision.
India Launches Pilot to Tokenize Its $620 Billion Corporate Bond Market
India’s SEBI and RBI are testing tokenized corporate bonds through the “Demat 2.0” pilot. Three companies have raised about $107 million, with transactions settled using the wholesale digital rupee.
ByteDance Arranges $29.6 Billion Loan as AI Infrastructure Plans Expand
ByteDance has arranged a $29.6 billion loan while reportedly considering $70 billion in AI data centers and infrastructure spending, CoinDesk reports. The move comes as U.S. AI companies call for slowing the industry’s race.
Reform UK Receives $97 Million in Crypto-Backed Donations
Reform UK has secured $97 million from two cryptocurrency billionaires in 24 hours, CoinDesk reported. The combined donations equal the largest individual political contributions in U.K. history and mark a sharp rise in crypto-industry backing.
Ripple’s RLUSD Targets $13 Trillion Corporate Treasury Market
Ripple stablecoin chief Jack McDonald sees a $13 trillion corporate treasury opportunity for RLUSD, now valued at $2.4 billion, as the company pursues payments, capital-markets growth and a MiCA-based European expansion.
Two crypto billionaires give nearly $97 million to Farage’s Reform UK
Cointelegraph reports that BitMEX co-founder Ben Delo and crypto billionaire Christopher Harborne each gave nearly $50 million to Nigel Farage’s Reform UK, bringing their combined donations to about $97 million.
Nvidia Reportedly Weighs $10 Billion Investment in Anthropic IPO
Nvidia is reportedly considering up to $10 billion in Anthropic’s potential IPO. The AI company could seek as much as $100 billion, implying a valuation of about $2 trillion, according to Reuters.
Bitcoin Treasury Shares Can Rise in BTC Exposure Without Lifting Shareholder Value
CryptoSlate highlights the dilution risk in Bitcoin treasury companies: holdings may grow, but shareholder value can lag because of new share issuance, company expenses, lender obligations, and management financing decisions.
Banks Develop Tokenized Deposits to Keep Customer Funds on Their Platforms
Wall Street is developing tokenized deposits to help businesses manage cash held across accounts and jurisdictions. CryptoSlate says the initiative could also encourage customers to keep more funds within participating banking networks.
Robinhood Crypto Volume Rises 61% in August but Remains Down 38% Year Over Year
Robinhood’s crypto volume rose 61% in August but was still 38% below its year-earlier level. Bitstamp contributed $10.1 billion, while trading through the Robinhood app fell 46% year over year.