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first_img Analysis: The Democratic Party may regain Congress, and cryptocurrency legislation may shift towards regulatory scrutiny

According to The Block, as the U.S. midterm elections approach, the digital asset industry may face changes in the congressional political landscape. Over the past two years, the Republican-led Congress passed the stablecoin bill GENIUS Act and advanced the broader Clarity Act; the latter passed the House in 2025 but stalled in the Senate due to controversies over stablecoin rewards and ethical issues raised by former President Trump's crypto wealth. Prediction market Kalshi shows that the probability of the Democrats winning the Senate and the House is 64% and 90%, respectively.The chair of congressional committees holds the power to set the agenda. If the Democrats regain the Senate, Elizabeth Warren will become the chair of the Senate Banking Committee. Ron Hammond, head of policy and advocacy at Wintermute, expects that she will actively use subpoena power and may focus on scrutinizing the Office of the Comptroller of the Currency's approvals of new bank charters for Ripple, Coinbase, and World Liberty Financial, which is supported by the Trump family.The election situation in Ohio is also under scrutiny, with former Senate Banking Committee chair Sherrod Brown facing pro-crypto Republican Jon Husted. Fairshake PAC has pledged $30 million to support Husted. Hammond stated that if Brown wins, he may become the chair of the Senate Agriculture Committee, which could potentially shelve related crypto legislation. In the House Financial Services Committee, regardless of whether Maxine Waters, Sean Casten, or Bill Foster leads, the Clarity Act is unlikely to advance. Lindsay Fraser, chief policy officer of the Blockchain Association, stated that while congressional control may change, the demand for clear crypto regulations will not.

first_img Immunefi CEO: PHP vulnerability confirms the arrival of the AI vulnerability apocalypse as scheduled, urging vigilance against wallet risks

The vulnerability bounty platform Immunefi's CEO Mitchell Amador warned that internet users still face the risk of cyberattacks triggered by PHP vulnerabilities, especially small websites that are slow to adopt emergency upgrades, which may take weeks to patch. He stated, "The vulnerability apocalypse" is coming as planned, where the cost of discovering vulnerabilities becomes cheap while the cost of fixing them remains high. He advised users to treat any websites they log into in the coming weeks as potentially compromised, avoid reusing passwords, exercise caution when connecting to encrypted wallets, and revoke token authorizations that are unrecognizable.Previously, the PHP Foundation admitted that it delayed fixing a critical security vulnerability first discovered in 2024 due to resource shortages. PHP developers released emergency patches for two critical vulnerabilities on the same day, but each website still needs to complete the upgrade on its own. Cloudflare CEO Matthew Prince stated that within 24 hours of the PHP vulnerability being publicly disclosed, the web recorded millions of exploitation attempts, with thousands of attempts even before the disclosure. According to W3Techs, PHP supports about 69% of websites with known server-side programming languages, and these vulnerabilities could allow attackers to spread malware or inject malicious scripts into websites.The FBI's Cyber Division also warned that these vulnerabilities could allow malicious actors to "remotely execute code in the PHP core, potentially compromising sensitive data and networks." Amador warned in an interview with Cointelegraph in June that the proliferation of cutting-edge AI models has changed the cybersecurity landscape, giving attackers an advantage, leading to the emergence of the "vulnerability apocalypse," and triggering a resurgence of DeFi hacking attacks. Immunefi is the world's largest vulnerability bounty platform, having paid out $140 million in bounties to 650 protocols to date.

Analysis: BTC traders have realized a price increase again, and the short to medium-term cost structure remains relatively positive

CryptoQuant certified analyst Trader_Gemini stated that the Trader On-chain Realized Price has risen again, currently becoming an important reference indicator for observing the subsequent trend of BTC. This indicator reflects the average acquisition price of BTC that last transferred in the past 1 to 3 months and can be used to measure the average holding cost of recent market participants. Currently, the trading price of BTC is in the low range of $80,000, while the realized price for traders has risen to the mid-range of $70,000, indicating that the current price of BTC is still above the recent average cost for traders.From the current structure, recent market participants are generally still in a state of unrealized profit, and the short to medium-term cost structure remains relatively positive. Historically, when the market is in an upward phase, the realized price for traders often provides support when BTC retraces close to that level. If the price can hold above this cost line, it indicates that the holding cost for recent participants may still provide support for the market; conversely, if BTC falls below this level, some traders in an unrealized loss state may sell when the price rebounds close to their cost, turning that position from support to resistance.In addition, Trader_Gemini also reminded to pay attention to the Upper Band of the indicator. Historically, when BTC prices approach the upper band, it is often accompanied by increased profit-taking pressure, which may lead to a short-term pullback. Therefore, if BTC continues to rise, the market reaction near the upper band is worth close observation; if BTC experiences a pullback, attention should be paid to whether the realized price for traders can provide effective support. Trader_Gemini emphasized that the upper band does not necessarily mean the market will peak, and the realized price for traders does not guarantee that BTC will rebound; neither should be viewed as automatic triggers for trading but rather as reference indicators for judging at what price recent market participants may change their behavior. Currently, BTC is still operating above the realized price for traders, and the overall cost structure remains positive; if a deeper adjustment occurs later, whether this indicator can continue to provide support will become an important observation point.

The Gate event market has launched a macro market special page, with a multi-dimensional data dashboard to help gain insights into market expectations

According to the official announcement, the Gate event market has officially launched a macro market special page, focusing on core topics such as the Federal Reserve's interest rate decisions, inflation, employment, economic growth, U.S. Treasury yields, and economic recession, displaying event probabilities, trading volumes, and market expectations through a visual dashboard. Users can experience related features by updating the Gate App to version v8.41 or above.In the special page, the Federal Reserve interest rate decision module provides a countdown to future interest rate events and displays the probability distribution of options such as rate hikes, rate cuts, and maintaining the current rate; core CPI, core PCE, non-farm employment, and unemployment rates are presented through indicator cards showing the latest forecast results. The GDP module displays the probabilities of different growth ranges, the U.S. Treasury module covers yields for 5-year, 10-year, and 30-year bonds, and the recession module presents market probabilities through a dashboard. The page supports dynamic updates of related event probabilities, and users can also enter event details to view key events and related news.As a centralized trading platform that is the first to layout the event market, Gate's upgrade further integrates macroeconomic information, enhancing the market expectation observation experience. In the future, the platform will continue to enrich the coverage of events, deepen the connection between market data, information, and event trading, and improve the one-stop event market service system.
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