This week’s stories highlight regulatory delays, security issues, institutional growth, and market experiments. The Senate delayed the CLARITY Act vote until September, while a Bitcoin security team found thousands of potential vulnerabilities in open source projects. Circle reported stronger USDC growth and set Arc’s launch date; World Cup trading pushed prediction markets to record activity. Despite limited miner support, BIP-110 is driving Bitcoin toward a possible minority chain split.
Main Takeaways
- The Senate postponed the CLARITY Act vote to September, increasing the likelihood of crypto regulation stalling during Trump’s term.
- The Bitcoin Red Team discovered 4,962 vulnerabilities, pushing 390 projects toward AI-based security audits.
- Circle’s second quarter revenue reached $701 million; Arc could boost USDC’s share when prediction markets focus on the US midterm elections.
Weekly Review
Thune postpones CLARITY Act vote in Senate deadlock until September
This decision came after Majority Leader John Thune stressed that Democrats insisted on no vote, as they still believe the CLARITY Act needs revisions to its ethics clauses.
Editorial Comment:
The failed vote before recess makes it unlikely the CLARITY Act will pass during the remainder of President Trump’s term.
Bitcoin Red Team finds 4,962 vulnerabilities after Coldcard hack
A volunteer security group called the Bitcoin Red Team discovered 4,962 vulnerabilities across 390 open source Bitcoin projects within 27 hours after the Coldcard hack, including 85 that were critical.
Editorial Comment:
Organizations like the Bitcoin Red Team and individual projects now must proactively use AI for audits. Not doing so is negligent.
Circle posts $701 million in Q2 revenue, USDC activity accelerates
