1.a16z: After the GENIUS Act, there is a more urgent need for the CLARITY Act
The House recently advanced an important new 'market structure' bill with overwhelming support (294 votes in favor, 134 votes against, including 78 Democrats supporting). This bill, known as the Digital Asset Market Clarity Act (CLARITY Act, HR 3633), will establish a clear regulatory framework for the digital asset market. The bill has now been submitted to the Senate for review, which is drafting its own version of market structure legislation and will reference the CLARITY Act. Click to read
2. Ethereum races toward $4,000: What exactly happened
Ethereum is making history: we are witnessing one of the largest short squeezes in cryptocurrency history. Since July 1, Ethereum's market cap has skyrocketed by $150 billion—just days ago, net short positions had just reached an all-time high. Click to read
3. Can ETH replicate a MicroStrategy Summer-like craze?
The reason these operators dare to be so aggressive is largely because they are exploiting the 'arbitrage window' before the U.S. government fully pushes for reforms in the crypto industry to establish mature regulatory mechanisms. In the short term, they have found many legal and compliance loopholes—such as the ambiguity in accounting standards for classifying crypto assets, lax SEC disclosure requirements, and gray areas in tax treatment, etc. Click to read
4. Web3 front-end attacks: A new paradise for hackers
When most people talk about Web3 security, they usually think of smart contracts. This makes sense. After all, these code snippets control real assets, define protocol logic, and protect billions of dollars in user funds. For years, security teams have devoted endless effort to discovering reentrancy vulnerabilities, access control issues, arithmetic errors, and subtle bugs that only occur under specific execution paths. But in all this obsession with what happens on-chain, we have overlooked the first thing that the vast majority of users actually interact with: the front end. Click to read
5. The 'first stock' of stablecoins is unstable
On June 5, 2025, Circle (NTSE: CRCL), the 'first stock' of stablecoins, went public on the NYSE with an issuance price of $31, and within just 12 trading days, the stock price peaked at $299. The closing price on July 18 was $223.78, up 622% from the issuance price, with a total market value close to $50 billion. Although the stock price has fallen 25% from its peak, the risks remain significant. Click to read
