Author: James Wilson
The US House of Representatives has passed a congressional stock-trading ban by a 232-198 vote, sending the measure to the Senate despite criticism that it leaves existing holdings untouched. Summary The House passed the Stop Insider Trading Act in a 232-198 vote. Elizabeth Warren criticized loopholes allowing lawmakers to retain and sell existing stocks. Bryan Steil has proposed similar restrictions for congressional prediction-market wagers. According to a statement from Representative Bryan Steil’s office, the House approved the Stop Insider Trading Act on Wednesday, July 22. The Wisconsin Republican introduced the legislation in January and urged senators to send it to…
Nvidia, Meta and Microsoft have joined 22 other organizations in warning U.S. policymakers that sweeping controls on open-weight AI models could weaken American leadership as competition with China intensifies. Summary Nvidia, Meta and Microsoft oppose sweeping U.S. restrictions on open-weight AI models. The coalition favors targeted enforcement against intellectual-property theft and other proven misuse. Elon Musk backed the letter as concerns over Chinese AI competition increased. The open letter has called for targeted legal and commercial measures to address misuse instead of restrictions covering technologies that support legitimate AI development. Its signatories include IBM, Palantir, Mistral, Hugging Face, Mozilla, Andreessen…
LMAX Group has enlisted Morgan Stanley and KBW to assess a sale or public listing that could value the institutional trading company at up to $5 billion. Summary LMAX has tapped Morgan Stanley and KBW to review strategic options worth up to $5 billion. A Nasdaq IPO is preferred, although a sale, SPAC merger or European listing remains possible. LMAX’s foreign exchange business allows the company to wait through weak crypto market conditions. Three people familiar with the private discussions said LMAX is working with Morgan Stanley and KBW, an investment bank owned by Stifel, as it reviews several strategic…
A US police union representing more than 382,000 members has reversed its position and endorsed the latest CLARITY Act after lawmakers added language addressing its concerns about cryptocurrency investigations. Summary The National Fraternal Order of Police has reversed course and endorsed the latest CLARITY Act. The union says revised provisions preserve law enforcement powers to investigate crimes involving digital assets. Senate delays and election-year disputes have pushed Polymarket’s 2026 passage odds down to 33%. According to former Fox Business reporter Eleanor Terrett, the National Fraternal Order of Police now supports the bill after reviewing provisions tied to the Blockchain Regulatory…
The European Union has placed Justin Sun-linked HTX among 18 crypto companies accused of helping Russian users evade financial sanctions. Summary EU lists Justin Sun-linked HTX among crypto firms accused of helping Russians evade sanctions. HTX faces transaction restrictions, but the EU action does not include an asset freeze. Separate rules will restrict Belarusian ownership of MiCA-regulated crypto firms from Aug. 25. According to Reuters, the EU published the list on Friday after adopting its latest restrictions on Thursday, adding another regulatory challenge for one of the world’s largest crypto exchanges. HTX, formerly known as Huobi, did not immediately respond…
Eight months ago the XRP ETFs launched faster than any product since Ethereum. The bid has since decayed 99%, from $200 million weeks to zero-flow days, leaving $1.49 billion invested, $997 million remaining, and a recovery thesis outsourced entirely to a Senate vote. Here is the full autopsy of a bid, and what its flatline actually prices. Summary US spot XRP ETFs launched in November with $667 million in their first month, reaching $1 billion faster than any crypto product since Ethereum’s funds, on an eight-week inflow streak that ran even while Bitcoin funds bled. The bid then decayed by…
Bitcoin price has slipped back toward $65,000 after spot ETF outflows, a major options expiry and rising oil prices stopped its rebound from extending beyond $66,800. Summary Bitcoin price retreated to $65,000 after spot ETFs recorded $225 million in net outflows. A $1.2 billion options expiry placed the closely watched maximum-pain level at $64,500. Losing $63,700 could expose Bitcoin to a deeper decline toward the $60,000 area. According to data from crypto.news, Bitcoin (BTC) price traded near $65,050 on July 24, down about 2.6% from its July 21 peak. Traders remained cautious as the pullback brought the price closer to…
SpaceX’s broken IPO has crypto media narrating every tick against its 18,712 BTC. One division destroys the story: the coins are eight basis points of the company. Summary SPCX has collapsed 48% from its June peak of $225.64 to about $117, below its $135 IPO price, and a persistent narrative frames the stock as a leveraged Bitcoin proxy because of the 18,712 BTC on its balance sheet. The decomposition kills the frame: at a roughly $1.56 trillion market value, SpaceX’s $1.18 billion in Bitcoin is approximately 0.076% of the company, eight basis points. A normal 3% daily move in SPCX…
Mubadala Capital has launched tokenized access to an evergreen private market strategy through UAE-based infrastructure provider KAIO. Summary Mubadala Capital’s tokenized private markets strategy attracted about $75 million across Solana, Base and Sui. Coinbase will add undisclosed fund exposure to its balance sheet, moving beyond infrastructure support alone. KAIO limits access to qualified investors while handling regulated issuance, administration and multichain fund distribution. The offering is available on Base, Solana and Sui and has attracted about $75 million from traditional and digital-asset investors. Coinbase will take an undisclosed position in the product and place the exposure on its balance sheet.…
The U.S. Securities and Exchange Commission will hold a public roundtable on Sept. 17 to discuss preparations for 24-hour trading in U.S. equity markets. Summary SEC will host public September talks on overnight equity trading, resilience, infrastructure and investor safeguards. Nasdaq and Cboe are targeting longer weekday sessions, subject to regulatory approval and system readiness. Crypto’s 24/7 model is shaping demand, but tokenized stocks remain separate from exchange-listed shares. According to the SEC’s official announcement, the meeting will take place at the agency’s headquarters in Washington, D.C., and will also stream online. The SEC will host a roundtable on September…