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The probability of the CLARITY Act passing this year has dropped to 35%, and the Senate vote may be postponed until September. Analysts believe the market has reacted in advance; Coinbase and Circle are under short-term pressure, but the long-term logic remains unchanged. If the legislative window in Washington is missed, it will be pushed to 2027.

The wave of bankruptcies is still continuing; who will be next?

Comparison of the three major tokenized US stocks: Ondo's mint and redemption, rToken's direct connection to the order book, and bStocks' oracle tracking. The differences in liquidity, timing, and capital efficiency among the three models are significant, and the era of 24/7 trading on Wall Street has arrived.

Haseeb, a partner at Dragonfly Capital, recently gave an interview where he objectively analyzed the current talent drain in the cryptocurrency industry and the state of the AI boom, and explained his investment logic for staying committed to the crypto market based on a long-term "growth narrative."

Beyond the leverage crunch, what is even more concerning is the liquidity reserves of the Strategy.

HYPE surge sparks a battle of giants. Solana's leader angrily criticizes Hyperliquid for being too centralized, while Arthur Hayes counters with a strong rebuttal, betting $100,000.

It's far more than just moving traditional assets onto the blockchain.

Michael Saylor deeply responds to the controversy over "selling coins for dividends": this move is actually to leverage the high appreciation attributes of Bitcoin's "digital capital" for credit arbitrage, and MicroStrategy promises to always be a "net buyer" of Bitcoin.

The proportion of sports categories on Kalshi is at a historical low, shifting from "entertainment trading" to "information and risk tools."

Creating billion-dollar giants like Perplexity and Cognition: Unveiling the "new gang" of the AI era formed by former Olympic champions.