Prediction Markets Explode, Circle Has Hot Q2, and More – Weekly Recap

Key Takeaways

• Senate delays CLARITY Act vote to September, raising odds crypto rules stall through Trump’s term.
• Bitcoin Red Team found 4,962 flaws, pushing 390 projects toward AI-driven security audits.
• Circle hit $701M Q2 revenue; Arc may boost USDC share as prediction markets eye U.S. midterms.

WEEK IN REVIEW

Thune Delays CLARITY Act Vote to September Amid Senate Deadlock

The decision comes after Majority Leader John Thune stressed that Democrats insisted on no vote as they still consider that the CLARITY Act needs work regarding the ethics provision.

Editor’s comment:

A failed vote before the recess makes CLARITY unlikely for the remainder of Trump’s presidency.

Bitcoin Red Team Finds 4,962 Flaws After Coldcard Hack

A volunteer security group called the Bitcoin Red Team uncovered 4,962 vulnerabilities, 85 of them critical, across 390 open-source Bitcoin projects over a 27-hour stretch after the Coldcard hack.

Editor’s comment:

Groups like The Bitcoin Red Team and individual projects must now be proactive using AI to run audits. To not do so is negligence.

Circle Posts $701 Million Q2 Revenue as USDC Activity Accelerates

Circle reported stronger second-quarter earnings as USDC circulation and transaction activity expanded.