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The Clarity Act will put Main Street banks at a disadvantage

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The Clarity Act will put Main Street banks at a disadvantage


The Blockchain Association’s Summer Mersinger dismisses the harm to community banks in defending the stablecoin rewards language in the Clarity Act, says community banker Nate Franzén.

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TOKEN2049 Singapore Returns to Marina Bay Sands This October

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TOKEN2049 Singapore Returns to Marina Bay Sands This October

TOKEN2049 returns to Marina Bay Sands in Singapore on Oct. 7-8, bringing together 25,000 attendees from over 7,000 companies across 160 countries.

The first 100 speakers have been announced, including Shayne Coplan, Founder and CEO of Polymarket; Jeff Yan, CEO of Hyperliquid Labs; Adena Friedman, Chair and CEO of Nasdaq; Jenny Johnson, CEO of Franklin Templeton; Eric Trump, Executive Vice President of The Trump Organization; Raoul Pal, Co-Founder and CEO of Real Vision; and Tom Lee, Managing Partner and Head of Research at Fundstrat.

Institutional participation will be a major focus of this year’s edition, with senior leaders from BlackRock, J.P. Morgan, Morgan Stanley, Nasdaq, NYSE, CME and Franklin Templeton expected across the event.

Taking over all five floors of Marina Bay Sands, TOKEN2049 will create a large-scale environment spanning content, networking, wellness, live experiences and its hospitality.

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Across TOKEN2049 Week, more than 1,000 events, from conferences and hackathons to investor gatherings, meetups and networking receptions, will fill venues throughout the city. Other major gatherings taking place in Singapore that week include Digital Asset Summit Asia, Sui Basecamp, the Network State Conference, the Milken Institute Asia Summit, and the Forbes Global CEO Conference, all against the backdrop of the Formula 1 Singapore Grand Prix.

Alex Fiskum, Co-Founder of TOKEN2049, said: “With our Dubai edition moving to 2027, our full focus this year is on Singapore. We’re seeing strong interest, with more than 70% of the exhibition floor already secured. We’ll also unveil new tracks and formats in the coming weeks as we expand the institutional side of the programme. We can’t wait to welcome everyone back to TOKEN2049 this October for another edition in Singapore.”

The 2026 programme will also feature the second edition of TOKEN2049 Origins, a 36-hour hackathon, and the return of the NEXUS Startup Competition, with registrations and applications across both programmes. This year’s finalists are set to be judged by leading venture capital firms Dragonfly, Multicoin, and Maelstrom.

Happy Bird tickets are currently available. For tickets and further information, visit TOKEN2049 Singapore.

ABOUT TOKEN2049
TOKEN2049 is the world’s leading crypto event series, bringing together decision-makers from across the global digital asset ecosystem to connect, exchange ideas and shape the industry. TOKEN2049 is the meeting place for founders, executives, institutions, investors, builders and policymakers from around the world.

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Pump Fun paid $700K to callers shilling mostly tiny tokens

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Pump Fun paid $700K to callers shilling mostly tiny tokens

The average market cap of Pump Fun tokens shared by 80% of the firm’s top 50 callout reward earners was below $100,000, according to research from crypto analyst Dethective.

Pump Fun traders earn daily sums based on the amount of volume their publicly shared token advice attracts from other traders.

Dethective charted the top 50 callout reward earners, who raked in a total of almost $700,000.

Few users call out tokens that reach over $100K

There were only two callers with an average median market cap rate of over $1 million, and eight callers with an average median market cap rate between $100,000 and $1 million.

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Read more: Pump Fun is firing staff and its company filings are overdue, report

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Eighty percent of the earners shared tokens with an average market cap of less than $100,000, while 12 callers averaged a market cap of less than $10,000.

Martin Shkreli makes $11K from callout rewards

Martin Shkreli joined Pump Fun this week, and his closely tied memecoins were down 94% in 24 hours. 

Despite this, Shkreli has made almost $11,000 from callout rewards. He’s shared 11 callouts with an average market cap rate of $220,000. 

Someone made $6.8K with 2,417 call outs

The highest earner of callout rewards was Pump Fun user “Slingoor,” who earned $47,500 sharing 215 callouts. Their average market cap rate was almost $149,000. 

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Meanwhile, the lowest top earner made $6,100 from sharing 624 callouts. Their average market cap rate was over $13,000. 

One top 50 earner shared 2,417 calls and made $6,800. Their average market cap rate was $3,600. 

Pump Fun was rewarding quantity over quality

Onlookers have noted that most of the users receiving these rewards are already key opinion leaders onboarded by the platform. 

Users also complained that the platform was unfairly rewarding the sheer number of callouts rather than their quality. 

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Because of this, Pump Fun’s Chief Operating Officer Alon Cohen claimed the firm has “significantly reduced the weighting of the number of callouts that a user produces within the callout rewards calculation.”

Over the last month, Pump Fun’s token has increased by 133%. However, it’s still down 46% from it’s all time high last September. 

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Is Bitcoin Quantum-Safe Now? One Transaction Says Partly

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StarkWare said Wednesday that a quantum-safe Bitcoin (BTC) transaction has been mined on the live network, a first for the method.

On-chain data shows the transaction spent a 10,000-satoshi output, worth about $8 at current prices, and paid a fee of 5,179 satoshis.

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How the Quantum-Safe Bitcoin Transaction Works

Quantum-Safe Bitcoin (QSB) attaches a hash-based lock beside the elliptic curve signature that normally guards a Bitcoin output. Shor’s algorithm, the quantum technique that derives private keys from published public keys, cannot break hash functions.

StarkWare researcher Avihu Levy published the QSB method in April. It uses signature grinding. This produces a valid Bitcoin signature without a private key. 

The sender grinds offchain until a candidate spending transaction hashes to a value that is itself a validly formatted signature.

Security then rests on reversing a hash rather than keeping a private key secret. The technique builds on Binohash, developed by Robin Linus, the creator of BitVM.

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MARA Pool mined the transaction in block 964,199. What worked was a single construction, not an upgrade, and Bitcoin itself remains unchanged.

What the QSB Method Cannot Do

StarkWare said the method does not make Bitcoin quantum-safe. Three constraints narrow what the spend actually protects.

The first limit is prior exposure. An address whose public key already sits on-chain gains nothing, because an adversary with a quantum computer could derive the corresponding private key.

The second is the migration step. Coins reach a hash-secured output through a transaction signed the ordinary way, which exposes the sending address’s public key. The output spent on Wednesday was funded in July by exactly such a transaction.

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The third is delivery. QSB transactions use nonstandard formats, so ordinary nodes will not relay them, and MARA’s Slipstream service supplied the route to a miner.

Cost compounds the limits. Levy’s repository puts the offchain compute at $75 to $150, while StarkWare described this transaction as costing several hundred dollars

“People have long assumed that protecting Bitcoin holdings from a quantum adversary would require changing the Bitcoin protocol. Today shows otherwise. A soft fork is still the better long-term answer, as StarkWare has argued for consistently, but it is no longer the only option,” the blog read.

Bitcoin has not adopted a protocol-level fix, and Wednesday’s transaction does not change that.

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Stock Market Today: Nasdaq Rallies As Nvidia, Salesforce, CrowdStrike Surge

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Stock Market Today: Dow Down After Surprise Jobs Reading; Cloudflare Soars

The tech-heavy Nasdaq composite jumped while the Dow Jones Industrial Average dipped Thursday as Wall Street reacted to big earnings reports, with Nvidia (NVDA), Salesforce (CRM) and CrowdStrike (CRWD) surging on the stock market today. Just after Thursday’s open, the Dow industrials were down 0.2%, while the S&P 500 moved up 0.3%. The Nasdaq advanced 0.8% in morning trading. West…

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Bitcoin News: Debt Hedge Case Meets Senate Roadblocks for CLARITY Act

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U.S. fiscal concerns and digital-asset legislation news have emerged as separate forces in the Bitcoin market. Senator Cynthia Lummis has linked Bitcoin to the country’s $39.2 trillion national debt. Now, the Digital Asset Market CLARITY Act remains subject to significant procedural and policy hurdles in the Senate.

Bitcoin posted a 22% weekly gain after Treasury yields fell following a Treasury intervention in the bond market. The move into crypto was later amplified by a short squeeze, with CoinGlass data showing $2.7 billion in crypto short positions liquidated.

CNBC also reported that concern about U.S. debt levels and borrowing costs was part of the market backdrop. The report described the Treasury’s decision to double its buybacks of long-dated government debt as an effort aimed at long-term yield concerns, while noting that Bitcoin remained below its 2026 high and its all-time high despite the rally.

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The same report said investor sentiment improved amid a late effort by the White House and crypto industry leaders to advance the CLARITY Act. It characterized the bill as a potential market catalyst, while saying its prospects for passage appeared relatively slim.

Discover: The Best Crypto to Diversify Your Portfolio

Lummis Links Debt Concerns to the CLARITY Act

On June 15, Senator Cynthia Lummis publicly tied Bitcoin to America’s $39.2 trillion national debt crisis. The report said she presented Bitcoin as a potential hedge against currency debasement for younger Americans who will inherit the effects of decades of deficit spending.

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Senator Cynthia Lummis speaking while wearing a dark blazer and a turquoise necklace against a blue background
Senator Cynthia Lummis speaks during a presentation.

Lummis has argued that Bitcoin’s fixed supply makes it structurally distinct from sovereign debt instruments. According to the report, she described the U.S. fiscal trajectory as unsustainable and said Bitcoin could help address the consequences for younger Americans. She also acknowledged that the legislative timetable remained uncertain.

The Clarity Act would establish a jurisdictional division between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Under the framework described in the primary report, the SEC would oversee digital-asset securities and new token offerings, while the CFTC would have jurisdiction over spot digital commodities, including Bitcoin and Ethereum.

Exterior view of the U.S. Securities and Exchange Commission building with its curved glass facade and American flags
The headquarters of the U.S. Securities and Exchange Commission in Washington, D.C.

The legislation would also create registration frameworks for exchanges, brokers, and custodians. Its provisions include capital-segregation requirements, protections for software developers publishing code, and a rule giving exchange customers first claim on custodial assets in bankruptcy.

For tokens that operate in regulatory ambiguity, the proposed activity-based test would determine whether sufficiently decentralized assets fall under CFTC oversight as digital commodities. The bill would also ban passive stablecoin yield products while protecting activity-based platform usage rewards.

Trade XRP on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop

News on Senate Obstacles Remain as Bitcoin Stabilizes

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Galaxy Research put the probability of the CLARITY Act becoming law in 2026 at 60–75%, according to the primary report. But the White House’s July 4 signing target faced pressure from unresolved ethics provisions, competing House and Senate versions that require reconciliation, and the Senate’s 60-vote cloture threshold.

The House and Senate versions also differ over the SEC–CFTC balance. The Senate Banking discussion draft gives the SEC primary authority over ancillary assets and calls for joint SEC–CFTC rulemaking on margining and disclosures, while the House version is described as more CFTC-forward.

Bitcoin (BTC)
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Despite the news, Bitcoin is still trading at around $80,000, with BTC holding near the key psychological level after briefly climbing above $80,000. The move keeps Bitcoin firmly in its recent uptrend, although the $80,000 to $82,000 area remains an important resistance zone after its three-month high.

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TIME Reveals the 2026 TIME100 AI List of the World’s Most Influential People in Artificial Intelligence

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TIME Reveals the 2026 TIME100 AI List of the World’s Most Influential People in Artificial Intelligence

Today, TIME reveals the fourth annual TIME100 AI list, recognizing the 100 most influential people in artificial intelligence. 

The 2026 TIME100 AI issue includes one worldwide cover featuring listmakers, Sam Altman, Dario Amodei, Jeff Bezos, Doreen Bogdan-Martin, Marian Croak, Larry Ellison, Joseph Gordon-Levitt, Paris Hilton, Lila Ibrahim, Arvind Krishna, Fei-Fei Li, Mira Murati, Elon Musk, David Sacks, Liz Shuler, Ilya Sutskever, and Eddie Wu. 

Published alongside the TIME100 AI are in-depth interviews with Thinking Machines Lab chief executive officer Mira Murati, Secretary-General of the International Telecommunication Union Doreen Bogdan-Martin and OpenEvidence founder and chief executive officer Daniel Nadler

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Kansas City Fed’s Schmid says inflation ‘stubborn’ and ‘sticky,’ policy rate not restrictive

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Kansas City Fed Pres. Jeff Schmid on July PCE: We have our work cut out for us
Kansas City Fed Pres. Jeff Schmid on July PCE: We have our work cut out for us

Kansas City Federal Reserve President Jeffrey Schmid said Thursday that inflation is still too high, though he stopped short of calling for an interest rate hike.

Speaking from the central bank’s annual symposium in Jackson Hole, Wyo. that the Kansas City Fed hosts, Schmid said in a CNBC interview that inflation has proven resilient.

“It’s still stubborn and it’s still sticky, and we’re we’ve got to continue to find ways to break through,” he said on “Squawk Box.” “We’re going to have our work cut out for us as we move into the [Federal Open Market Committee] cycle.”

The comments came the day after the Commerce Department reported that the Fed’s primary inflation gauge showed core prices, which exclude food and energy, rose 3.3% from a year ago, well above the central bank’s 2% target.

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Coupled with an economy that grew at 1.5% in the second quarter and an unemployment rate sitting at 4.1%, Schmid said it’s not clear that the Fed’s current policy rate target of 3.5%-3.75% is restrictive.

“I don’t know what we’re restricting currently with the rate policy that we’re at today,” he said. “I do know moving the rate does change behaviors in the market in a macro level market.”

Schmid does not vote this year on the FOMC, though he still gets to express his views at meetings. When he was a voter last year, he twice dissented against rate cuts.

However, he said he is not sure whether he would support a rate increase now.

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“I think we need a little bit more information. What I’m trying to figure out is the demand side of what’s driving both growth and inflation,” Schmid said.

Separately, Schmid said he sees “some room” to consider an idea that Chairman Kevin Warsh raised in July to reduce the number of FOMC meetings per year to six from the current eight.

Watch CNBC's full interview with Kansas City Fed President Jeff Schmid
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Bitcoin steadies above $79,000 as ETF inflows hit longest streak since April

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Bitcoin steadies above $79,000 as ETF inflows hit longest streak since April


BTC held its ground Thursday as spot bitcoin ETFs logged an eighth straight day of net inflows, while altcoins drifted lower across the board.

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Bitfinex Securities completes record $50M tokenized capital raise

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Bitfinex Securities completes record $50M tokenized capital raise

Bitfinex Securities completes record $50M tokenized capital raise

Bitfinex Securities completed a record $50 million raise for Alkemya, whose token represents interests in a partnership that holds nickel assets.

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Unstoppable Domains drops $2 million plan to bring .crypto and .bitcoin to standard internet

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Unstoppable Domains drops $2 million plan to bring .crypto and .bitcoin to standard internet


The abandoned bids would have cost over $2 million in base fees alone, leading the firm to prioritize financial viability over broader internet adoption.

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