Crypto World
Safe Logs 130M Transactions in Q2, a Quarterly Record
Safe smart accounts processed nearly 130 million transactions in the second quarter, the highest quarterly total in the protocol's history and a 5.7% increase from Q1, the Safe Ecosystem Foundation said in its Q2 2026 report published Wednesday. The record quarter came against a weaker market, a… Read the full story at The Defiant
Astera Labs (ALAB) stock spiked 12.7% on Tuesday after the company surpassed Wall Street’s targets in its latest earnings announcement. It’s wiping out the bulk of those gains in Wednesday’s trading. Investors could buy Astera Labs at the current price or use options to potentially buy shares of the semiconductor company for a discount. Astera Labs is a fabless semiconductor…
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The industry’s biggest legislation has faced yet another setback. The US Senate will not take up the crypto market structure bill before lawmakers leave Washington for the month-long recess, pushing the vote to September instead.
Senate Majority Leader John Thune, speaking through a spokesperson, confirmed there will be no vote on the CLARITY Act in August but said the measure is expected to be considered once the Senate returns.
Thune said Democrats remained opposed to holding a vote before the recess.
“The Dems are insistent on no CLARITY vote… I worked with sponsors of the bill. Senator Lummis was great, and we’re getting that queued up first thing when we come back.”
CLARITY Act on Hold
With the vote pushed back, senators now have several more weeks to gather the support needed for the legislation. The bill requires 60 votes to advance in the Senate, meaning it cannot pass without some Democratic votes.
Democrats are pushing for stronger safeguards to stop President Donald Trump from benefiting financially from crypto while serving in office. Support from Republicans has also been uncertain in recent weeks. For instance, Senator Josh Hawley earlier said that he will oppose the bill unless it is changed to address concerns from community banks.
Even if the Senate passes the CLARITY Act, the process will not end there. The legislation must go back to the House for approval before it can be sent to President Donald Trump for his signature.
Not everyone sees it as a major blow to the industry. Before the Senate confirmed the delay, Bitwise Chief Investment Officer Matt Hougan had stated that missing the August vote would not derail the industry’s long-term growth. He expects lawmakers could revive the legislation when Congress returns in September or during the year-end session.
Hougan said the biggest concern is the uncertainty surrounding the bill, which has kept some institutional investors on the sidelines. While a failed vote could trigger a short-term market dip, he believes a clearer outlook may ultimately boost confidence and support a stronger crypto rally later this year. He also noted that the SEC could still introduce crypto-friendly regulations.
Market Reaction
Major cryptocurrencies drew a muted response following the Senate update. Bitcoin traded around $64,100 on Friday, while Ethereum slipped below $1,900. XRP posted the biggest decline among large-cap tokens and lost over 2.5% to trade at $1.02.
BNB also moved lower, falling 1.4% to $587, while Solana slipped more than 1.7% to $72.6.
The post CLARITY Act Stalls in Senate as Political Divisions Push Crypto Bill Into September appeared first on CryptoPotato.
The Government Accountability Office found that the Department of Government Efficiency’s (DOGE) Wall of Receipts includes savings estimates that are incorrect or lack supporting evidence, casting doubt on the $110 billion the entity claims it cut from federal spending.
The report examined the DOGE Wall of Receipts, the public ledger the initiative used to display cuts to federal contracts, grants, and leases.
What the GAO Audit of DOGE Found
The GAO published its review on August 6. It assessed savings data DOGE reported from January 20, 2025, through July 7, 2026.
DOGE launched the Wall of Receipts on February 17, 2025, weeks after President Donald Trump created the entity by executive order. According to the report, DOGE listed $110.3 billion in savings as of early July.
Roughly $61 billion came from contracts and $49.2 billion from grants, according to the audit. However, the report found “issues limiting the transparency and reliability of these reported savings.”
“While the Wall of Receipts includes some information about the data and sources underlying reported savings, it does not sufficiently disclose limitations affecting data quality,” the report read.
Of the 13,476 contracts marked as terminated, more than a quarter carried no identifying details. That left them impossible to check. Only 43% of the reported contract savings were tied to contracts that were actually terminated, in full or in part.
The picture was worse for grants. GAO said DOGE reported 96% of its grant savings without enough information to verify how it calculated the figure.
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Savings That Never Happened
One example stands out. DOGE claimed more than $1.7 billion in savings on a Defense Health Agency technology contract at more than 700 military treatment facilities. GAO found the contract was never touched. So, nothing was actually saved.
Leases told a similar story. Of 264 still listed, 108 were already being wound down before DOGE launched. Real lease savings came to $31.8 million, not the $113 million claimed. The gap left roughly $81 million in savings that never existed.
GAO urged the Executive Office of the President, working through the US DOGE Service, to display the data’s limitations clearly on the public site. The agency said that DOGE did not respond to its request for information or interviews.
The findings arrive after DOGE quietly collapsed months early and formally ended on July 4. Elon Musk, who once led the effort, has since ruled out repeating it.
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The post Government Auditors Question Evidence Behind DOGE’s $110 Billion Savings Claim appeared first on BeInCrypto.
Crypto World
AI Marketing Stock Hits A Buy Zone In Scorching Four-Day Rally| Investor’s Business Daily
Artificial-intelligence-powered cloud marketing platform operator Zeta Global (ZETA) spiked and broke out of a cup base on Wednesday. The big move came after the AI marketing company late Tuesday increased its 2026 revenue forecast. These are a couple of the reasons why Zeta is Wednesday’s focus among IBD 50 Growth Stocks To Watch. “With new momentum from our collaborations with…
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McDonald’s (MCD) reported mixed second-quarter results Tuesday, citing execution issues that hurt performance. It also named a new head of its U.S. business. Meanwhile, Shake Shack (SHAK) rallied on news that an activist fund acquired a stake in the company. McDonald’s earnings rose 6% to $3.38 per share year-over-year, excluding charges, which beat the consensus estimate of $3.32. Sales climbed…
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Ten European financial institutions, including ABN AMRO, DekaBank, DZ BANK and Natixis CIB, launched Regulated Layer One, a jointly owned blockchain network for regulated financial markets, the group said in a press release published Tuesday. The launch consolidates one of Europe's longest-running… Read the full story at The Defiant
Wintermute USA has registered as a broker dealer with the U.S. Securities and Exchange Commission and joined FINRA, giving the crypto market maker a regulated foothold in American securities markets.
Summary
- Wintermute USA registered with the SEC and FINRA, formally entering regulated U.S. securities markets nationwide.
- The broker dealer can trade equities, equity options and provide proprietary liquidity across national exchanges.
- Wintermute can pursue authorized participant roles for ETPs, including products tied directly to digital assets.
- CEO Evgeny Gaevoy says Wintermute targets Wall Street market makers within three to five years.
- Tokenized equities remain a future expansion area, subject to additional regulatory permission and market approvals.
Wintermute announced the registration on Aug. 6, saying the New York based affiliate will focus on proprietary trading and exchange traded product services.
The move brings Wintermute closer to traditional market making roles that were previously unavailable to its U.S. operation. The Wall Street Journal reported that the firm is now eligible to seek designated market maker status on exchanges including the New York Stock Exchange and Nasdaq. That status is not automatic and would require additional exchange approvals.
Wintermute USA gains access to regulated securities trading
Under the new registration, Wintermute USA can trade traditional equities and equity options for its own account, provide liquidity to national securities exchanges and over the counter counterparties, and act as an authorized participant for exchange traded products. The company also said the unit can self clear digital asset securities transactions for its proprietary account.
Wintermute stressed that the U.S. business is focused exclusively on proprietary trading and ETP services. The registration places the entity under SEC oversight and FINRA membership requirements, including rules covering capital, supervision, recordkeeping and trading conduct. Wintermute also cautioned that FINRA registration should not be viewed as a regulatory endorsement.
The firm already has experience around U.S. crypto funds. SEC filings for Fidelity’s Bitcoin and Ether products have listed Wintermute Trading Ltd as a trading counterparty, while firms such as Jane Street and Virtu have served as authorized participants. Becoming a registered U.S. broker dealer creates a route for Wintermute USA to pursue roles that require securities market registration, although each fund or exchange relationship would still require separate agreements and approvals.
Wintermute wants a larger role in ETF market making
The Wall Street Journal reported that Wintermute USA has already secured ETF issuers as clients. CEO Evgeny Gaevoy said the company plans to start in markets close to its existing expertise, including commodities and digital asset ETFs, before considering a broader move into tokenized equities if regulators permit it.
Gaevoy also set an ambitious competitive target. He said Wintermute wants to challenge established firms including Jump Trading, Jane Street and Citadel Securities “within three to five years.” That goal remains forward looking. Wintermute has not disclosed market share targets, expected U.S. revenue or a timetable for obtaining designated market maker status.
The company says its global group handles more than $10 billion in average daily trading volume across more than 60 centralized and decentralized venues. That scale gives Wintermute experience in automated pricing and liquidity provision, but regulated U.S. equity market making has different operational, capital and compliance requirements.
Tokenized equities form the longer term opportunity
Wintermute’s interest in tokenized stocks predates the broker dealer registration. In September 2025, the firm submitted feedback to the SEC Crypto Task Force asking regulators to clarify how registered dealers can trade tokenized securities for their own accounts, self custody those assets and settle transactions onchain.
The registration therefore gives Wintermute a regulated entity that could participate if U.S. rules for tokenized securities continue developing. NYSE has also pursued a framework for tokenized securities to trade alongside conventional shares while using established clearing infrastructure. Those initiatives show how crypto native trading firms and traditional exchanges are moving toward overlapping market structures.
Wintermute had already been building its U.S. presence before securing the registration. As crypto.news reported in May 2025, it opened a New York headquarters and appointed former Blockchain Association executive Ron Hammond to lead advocacy.
What happens next for Wintermute USA
The immediate next step is execution rather than another automatic regulatory milestone. Wintermute USA can operate within the permissions described in its registration, but becoming an authorized participant for particular ETFs or a designated market maker on an exchange requires additional arrangements.
Likewise, the planned tokenized equity expansion depends on regulatory permission and market infrastructure that is still evolving. Wintermute’s own release described its tokenization ambitions as part of a future strategy rather than an approved business line.
For now, the broker dealer registration gives Wintermute a regulated platform for proprietary securities trading and ETP services in the U.S. It also narrows a structural gap between the firm’s crypto market making operation and traditional Wall Street firms that already sit inside ETF creation, redemption and exchange market making systems.
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A bipartisan ethics proposal pitched to US President Donald Trump to secure passage of the crypto market structure bill in Congress could create a significant tax benefit for the president, Bloomberg reported Thursday.
The ethics addendum, which has not been made public, includes a provision requiring the president to divest from crypto-related businesses, according to people familiar with the matter. The proposal would reportedly allow Trump to defer capital gains taxes on any required divestitures, potentially leading to tax savings in the millions.
Democratic concerns over Trump’s crypto conflicts have been a central obstacle to passing the market-structure bill. Senators have been working on an ethics addendum meant to break that impasse, though the reported tax-deferral benefit could become another point of contention for Democrats to question whether the president’s financial interests are genuinely curbed.
Cointelegraph reached out to the White House for comment but did not receive an immediate response.
Related: US Senate pushes CLARITY Act vote to September: Report
Trump’s annual financial disclosure report for 2025, released at the end of June, revealed the US president saw $1.4 billion in income from crypto-related ventures last year.
According to the 927-page disclosure, the licensing and sale of memecoins such as Official Trump (TRUMP) generated the most income for Trump, with about $635 million coming from “royalties” in a “license agreement with Celebration Coins.”
Meanwhile, the Trump family’s DeFi platform, World Liberty Financial, was the second-biggest earner, generating about $588 million from “proceeds from token sales.”
The disclosure also revealed that Trump earned $197 from the sale of an equity interest in a stablecoin venture.
Meanwhile, disclosures on World Liberty’s website show that DT Marks DEFI LLC, an entity affiliated with Trump and certain family members, owns “approximately 38% of the equity interests” in World Liberty’s parent company.
Magazine: CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26
Japanese and South Korean equities reversed early gains on Friday. The KOSPI fell over 1%, while the Nikkei 225 dropped slightly as well, as memory chip stocks extended a multi-week selloff.
SoftBank Group slid 3.69% and SK Hynix sank 4.82%, pressuring both benchmarks. Weak overnight trading on Wall Street compounded the pullback across Asian markets.
Asian Indexes Give Back Early Gains
The KOSPI opened 1.1% higher at 6,365.07 points. It rose as high as 6,415.60 before sellers took control. The index then fell to 6,221.60, down 74.79 points, or 1.19%, from Thursday’s close of 6,296.39.
Japan’s Nikkei 225 followed a similar pattern. It opened higher at 65,746.13, above Thursday’s close of 65,683.04, then reversed to 65,193.16, down 489.88 points, or 0.75%. The session ranged between 64,651.49 and 65,990.72.
SoftBank Group, a top Nikkei 225 constituent, slid 3.69% to 5,485 yen. SK Hynix led KOSPI decliners, sinking 4.82% to 1,423,000 won. Samsung Electronics bucked the trend, adding 0.43% to 231,500 won.
Memory Chip Selloff Weighs on Sentiment
The declines extended a broader repricing that has driven a sharp SanDisk stock selloff over the past month. Kioxia, a Japanese flash-memory maker, dropped 2.03% to 47,750 yen earlier in Friday’s session.
Citigroup and Jefferies cut price targets on memory stocks this week. The move followed conservative guidance from SanDisk, whose quarterly results beat estimates but failed to lift its outlook.
Goldman Sachs said fully priced valuations leave chipmakers vulnerable to sharp drops. Even slightly conservative guidance can trigger a selloff despite strong headline results, the bank noted.
Wall Street closed lower across the board Thursday, weighing on Asian sentiment. The Nasdaq Composite slipped 0.06% and the S&P 500 fell 0.18%. The Dow Jones Industrial Average snapped a five-session winning streak with a 0.85% drop.
US jobless claims for the week ending August 1 came in at 199,000, slightly below forecasts. That points to continued labor market strength. Traders were also watching the Middle East. The United States and Iran have not yet finalized terms to reopen the Strait of Hormuz.
Whether the KOSPI and Nikkei stabilize may hinge on memory chip earnings and progress in the Hormuz talks.
The post KOSPI, Nikkei Reverse Gains as SoftBank, SK Hynix Both Drop appeared first on BeInCrypto.
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