Morning Report | Opinion: The primary reason for the failure of the CLARITY Act is the launch of the TRUMP token by Trump; Compound founder: The failure of the Clarity Act makes everyone a loser
September 16 Market Important Events OverviewCompiled by: ChainCatcher
What important events have occurred in the past 24 hours?
Bernstein: The SEC and CFTC may accelerate the formulation of crypto regulations after the CLARITY Act stalls
According to ChainCatcher, Bernstein analysts stated that after the CLARITY Act failed to pass the Senate procedural vote, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are expected to "actively and swiftly" advance the formulation of digital asset regulations to make up for the time lost in previous bill negotiations. Bernstein anticipates that the new regulations may cover token classifications for financing, protective measures for DeFi and self-custody protocol developers, exemptions for stock tokenization innovations, expedited approvals for perpetual contracts of real-world assets, and revisions to rules related to sports event contracts and their swap classifications. Relevant agencies may provide regulatory clarity for the industry through administrative rules. Analysts believe that the CLARITY Act could have reduced the risk of regulatory frameworks being adjusted due to changes in the political environment, but due to limited remaining legislative time and controversies over ethical provisions, the likelihood of the bill being voted on again is low. The SEC had previously proposed a new framework applicable to certain crypto asset investment contracts, intending to allow entities to issue tokens not exceeding $5 million within four years or not exceeding $75 million within 12 months, along with a safe harbor arrangement. SEC Chairman Paul Atkins had also stated that if Congress fails to pass the CLARITY Act, the agency has the ability to formulate digital asset rules on its own.
Analysis: Bitcoin shows relative independence ahead of the Fed's decision, with reduced correlation to the dollar index and U.S. stocks
According to ChainCatcher, Bitcoin has shown a relatively independent trend ahead of the Federal Reserve's interest rate decision, with a significant decrease in short-term correlation with the dollar index and U.S. stocks. Alice Liu, head of research at CoinMarketCap, stated that the short-term correlation coefficient between Bitcoin and the dollar index has dropped to 0.08, compared to -0.54 over the past 30 days; its correlation coefficients with the S&P 500 and Nasdaq indices have decreased to 0.43 and 0.3, respectively, from 0.75 and 0.6 the previous day. Liu believes that the market has recently shifted its attention to the CLARITY Act, which failed to pass a key procedural vote in the Senate on Tuesday, causing regulatory progress to temporarily overshadow macro factors. As correlations weaken, the reliability of strategies that hedge Bitcoin long positions by shorting S&P 500 futures has decreased. The market generally expects the Fed to raise interest rates by 25 basis points, a scenario that has already been largely priced in. This decision will test whether Bitcoin can re-establish its linkage with the dollar and U.S. stocks; traders also need to pay attention to post-meeting guidance and fluctuations in U.S. Treasury yields, which, if significantly rising, may tighten financial conditions and drive risk-averse capital flows into the crypto market.
Coinbase Vice Chairman: The era of uncertainty in crypto regulation is coming to an end
According to ChainCatcher, Coinbase Vice Chairman Ryan VanGrack stated on CNBC that the era of uncertainty in cryptocurrency regulation is coming to an end, and clear rules will emerge through Congress or regulatory agencies. VanGrack noted that the over 600-page CLARITY Act is closer than ever to gaining bipartisan support, receiving backing from law enforcement groups, Wall Street firms, and crypto voters. He also stated that the SEC and CFTC have made it clear that they will issue new rules regardless. VanGrack said: It is time to choose policy over politics and get this done.
Deribit launches over 90 USDC perpetual contracts
According to ChainCatcher, crypto derivatives exchange Deribit announced the launch of its largest product expansion ever, with the first phase introducing over 90 perpetual contracts settled in USDC, covering crypto assets, listed stocks and ETFs, commodities, the COIN50 index, and private market valuations, with all contracts being launched in phases and settled in USDC. This expansion covers five areas: over 60 crypto perpetual contracts (including ENA, AAVE, HBAR, RENDER, etc.), stock and ETF perpetual contracts (such as NVDA, MSFT, META, TSLA, AAPL, GOOGL, AMZN, AMD, QQQ, SOXL, SPY, EWY, etc.), commodity perpetual contracts (GOLD, SILVER, BRENTOIL, WTIOIL), COIN50 index perpetual contracts, and pre-IPO perpetual contracts for Anthropic and OpenAI. Stock, commodity, and pre-IPO products are approved for provision under a limited license by Deribit FZE from the Dubai Virtual Assets Regulatory Authority (VARA) and are subject to relevant conditions and eligibility restrictions. This expansion is accompanied by an upgrade of Deribit's matching engine. Deribit FZE is authorized and regulated by VARA, and the availability of products and services is subject to applicable regulatory requirements and investor classification constraints.
Senate fails to advance the CLARITY Act, Warren claims Trump family profited $1.4 billion from crypto
According to ChainCatcher, U.S. Senator Elizabeth Warren delivered a speech lasting over 10 minutes in the Senate, calling for a vote against the CLARITY Act. She stated that Trump and his family profited $1.4 billion from crypto businesses in 2025 alone, exceeding the revenue of any publicly listed crypto company in the U.S. last year, and that those who purchased his crypto projects lost billions of dollars, with meme coin buyers losing nearly $4 billion. The Senate failed to pass the procedural vote with a 49-50 result, falling short of the 60 votes needed to begin debate, with no Democrats voting to advance it. Warren claimed that the bill would exacerbate Trump's corruption and criticized the ethical provisions negotiated by the Republicans with the White House as a "small fig leaf," stating that it would not prevent Trump from continuing to profit from crypto. Warren also stated that the bill would create a huge loophole in nearly a century of securities law, allowing non-crypto companies to put assets on-chain to evade investor protections and enabling banks to use customer deposits for crypto lending, trading derivatives, operating nodes, and selling related software.
Nakamoto CEO says AI could be the next engine for Bitcoin adoption
According to ChainCatcher, David Bailey, CEO and Chairman of Nakamoto Holdings, stated in a discussion hosted by investment bank TD Cowen that artificial intelligence could become the next engine driving Bitcoin adoption. He believes that the barrier to Bitcoin adoption has always been the interface rather than the asset itself, as wallets, addresses, private keys, and the overall onboarding process have deterred mainstream users over the past decade, while AI-driven tools can abstract away this complexity, making it easier for ordinary individuals and institutions to use Bitcoin. TD Cowen analyst Lance Vitanza described this viewpoint as speculative but worth noting, believing it will shift the adoption discussion away from traditional topics such as monetary policy, regulation, and institutional capital inflows. Bailey also stated that institutional adoption of Bitcoin is just beginning, with the changes brought about by spot ETFs, corporate treasury programs, and sovereign-level interest over the past year exceeding the total of the previous decade, and that the opportunities ahead remain far greater than what has been captured. When asked if Bitcoin is reshaping traditional finance, Bailey firmly believes the answer is yes, as institutions, governments, and publicly listed companies are participating on a large scale, but the underlying attributes of Bitcoin have not changed as a result. Nakamoto positions itself as a comprehensive Bitcoin platform covering media, conferences, education, asset management, consulting, and treasury operations, and TD Cowen has given Nakamoto Holdings (NASDAQ: NAKA) a buy rating.
Michael Saylor: After the CLARITY Act stalls, U.S. regulators may advance crypto regulation based on existing laws
According to ChainCatcher, Strategy founder Michael Saylor stated that with the CLARITY Act stalled, he expects the SEC, CFTC, and Treasury Department to continue advancing digital asset regulatory rules based on existing laws without waiting for Congress to complete legislation. Saylor anticipates that banks will expand Bitcoin custody and Bitcoin-collateralized loan businesses, with more funds flowing into Bitcoin and digital credit. He added that the GENIUS Act will support further adoption of stablecoins, and the development of the crypto industry does not need to pause due to the CLARITY Act.
Coinbase Chief Policy Officer: Crypto voters should use their ballots to retaliate against lawmakers opposing the CLARITY Act
According to ChainCatcher, Coinbase Chief Policy Officer Faryar Shirzad commented on the failure of the CLARITY Act to pass a key procedural vote, stating that the U.S. Congress has given its answer: the legislative path is blocked, and there should be no further expectations. The SEC and CFTC can issue clear regulatory rules using existing authority. With about seven weeks until the midterm elections, crypto voters should use their ballots to retaliate against lawmakers who voted against it.
Compound founder: The failure of the CLARITY Act makes everyone a loser
According to ChainCatcher, Compound founder Robert Leshner stated that the failure of the Clarity Act today makes everyone a loser, as partisan games have overshadowed common sense. He noted that the boundary between tokens and securities has not become clearer, entrepreneurs will still tend to build and finance overseas, investors will not gain more information or protection, developers will not have additional safeguards for decentralized systems, banks remain constrained by stablecoins that can pay rewards, and government employees and the crypto field lack ethical barriers. Leshner expressed that he mainly feels regret for those in the industry and those in both parties in the House and Senate who have long pushed for the bill, believing that the shine of U.S. leadership has dimmed somewhat.
Coinbase CEO: There may be follow-up to the bill, regulatory clarity will still come, but we cannot wait for Congress
According to ChainCatcher, Coinbase co-founder and CEO Brian Armstrong stated that the failure of the CLARITY Act to advance in the Senate today is disappointing. While bipartisan dialogue may continue and the bill may have follow-up possibilities, we can no longer wait for Congress. Armstrong stated that the SEC and CFTC already have the tools to formulate clear rules under existing authority and are expected to seriously advance this, and clear rules in the crypto space will still come. GENIUS is already the current law in the stablecoin field, with more lenient rewards. CLARITY made some unacceptable concessions, which may be for the better. He stated that crypto cannot be canceled after being invented, and as regulators bring clear rules, the financial system will continue to update.
Former CFTC Chairman: SEC and CFTC will formulate crypto rules
ChainCatcher reports that former U.S. Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo stated that despite the setback of the CLARITY Act in the Senate, the U.S. Securities and Exchange Commission (SEC) and CFTC will still work on developing cryptocurrency regulations. Giancarlo, who previously served as CFTC Chairman, shared this view regarding the progress of U.S. cryptocurrency regulatory legislation.
Binance Launches Wealth Management Service, Listing 11 U.S. Listed ETFs
ChainCatcher reports that cryptocurrency exchange Binance has launched a wealth management service, providing users access to 11 U.S. listed exchange-traded funds (ETFs) that focus on short-term U.S. Treasury bonds and investment-grade bonds. The new Binance Earn product categorizes the ETFs into cash management, stable income, and yield enhancement based on investment duration (ranging from less than six months to over a year). Users can browse available ETFs and place orders through Binance Earn, with the purchasing process completed via the exchange's stock trading service. Binance stated that investors can receive economic benefits from the stocks, including price fluctuations and cash dividends. Unlike tokenized stocks, users purchase actual ETF shares through this service. Binance provides the interface, and Nest Trading routes orders to Alpaca Securities for trade execution and custody of securities. This wealth management service is Binance's latest initiative to expand its traditional financial services. Earlier this month, the exchange added physical delivery options for over 1,000 U.S. stocks and ETFs, with its existing stock products covering more than 7,000 stocks and ETFs. A survey by PwC last year showed that over 80% of respondents believe tokenization will enhance the global coverage and 24/7 accessibility of the ETF market in the next three years.
Opinion: The Primary Reason for the CLARITY Act's Failure is Trump's Launch of the TRUMP Token
ChainCatcher reports that overseas cryptocurrency KOL Brady Dale posted on X, stating that there are three individuals responsible for the failure of the CLARITY Act: first is Trump, due to his launch of the TRUMP token; second is Tim Scott, who insisted on wasting the Senate's time drafting his own version, depleting the legislative momentum left after the passage of the GENIUS Act; third is Cynthia Lummis. Brady Dale mentioned that he believed last fall that the bill would be difficult to advance, and after Cynthia Lummis announced her retirement, the bill became completely hopeless. He believes that SEC Chairman Paul Atkins will still mitigate some of the related impacts, but the movements of the day were not surprising, as the goal was merely to redirect the cryptocurrency political action committee Fairshake towards October.
Liquid Compute Completes $15 Million Seed Round and Applies for CFTC Qualification
ChainCatcher reports that Liquid Compute founder Ronit Jain announced that the company has completed a $15 million seed round of financing and has submitted applications for Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) qualifications to the U.S. Commodity Futures Trading Commission (CFTC) to build the first regulated order book for trading cash-settled and physically delivered computing power contracts. The company stated that computing power has heterogeneous and non-storable characteristics, similar to electricity rather than oil, with the path being to first build an efficient short-term market, then support a cash-settled derivatives layer, operating similarly to PJM or ERCOT. In recent months, Liquid Compute has collaborated with financial institutions such as Susquehanna International Group, BGC Group, and Wintermute to provide liquidity for AI startups, neocloud providers, and lenders through OTC trading. This round of financing was co-led by Chemistry and FirstMark Cap, with participation from K8 Cap, Night Capital, UFO Holdings, TrueBridge CP, Brainchild Holdings, Y Combinator, and angel investors from companies like CoreWeave, Jane Street, and OpenAI.
Jiang Zhuoer: Expect Market to Drop Then Rise After Federal Reserve Decision, BTC May Reach $84,000
ChainCatcher reports that Jiang Zhuoer, founder of the Liebit Mining Pool (B.TOP), posted on X stating that at 2 AM Beijing time on September 17, the Federal Reserve will announce its interest rate decision. Based on the 30-day federal funds futures prices, the current probability of a 25 basis point rate hike is about 92%. He expects the Federal Reserve to raise the target interest rate range from 3.50% to 3.75% to 3.75% to 4.00%, believing that this outcome is basically a foregone conclusion. After the interest rate decision is announced, the Federal Reserve will also release the dot plot. Jiang Zhuoer stated that attention should be focused on the median of the interest rate forecast and the central trend range after excluding the highest and lowest three points. He expects the dot plot to show two rate hikes in total by 2026, meaning there will be one more rate hike within this year after the current hike, and the related expectations may lead to a short-term market drop. Jiang Zhuoer believes that the speech by Federal Reserve Chairman Kevin Warsh, starting at 2:30 AM, is the biggest variable, and he expects it may release dovish signals. Therefore, he predicts the most likely market path is "drop then rise": a drop after the interest rate decision and dot plot announcement, followed by a rebound after Warsh's speech. He expects Bitcoin may drop below $75,000 and then rebound to between $83,000 and $84,000, followed by a significant adjustment.
On-Chain Financial Platform Theo Launches Tokenized Silver thSLVR, Secures $40 Million in Leasing Support
ChainCatcher reports that, according to CoinDesk, on-chain financial platform Theo announced the launch of a yield-bearing tokenized silver product thSLVR, supported by over $40 million in active leasing, expanding its commodity financing business from gold to silver. The token provides holders with exposure to silver prices while passing on the leasing fee income paid by institutional borrowers to the holders. Theo stated that the silver supporting thSLVR will be leased to mature institutional trading counterparts under standard market terms, with credit exposure guaranteed by the parent company. The product is launched in a beta version, initially targeting institutions and whitelisted investors, with plans to expand access later. Silver has experienced significant volatility this year, reaching a historical high of $121.79 per ounce in January, followed by a 41% drop over three days, and hitting a low of $54.74 in July, recently hovering around the mid-$60 range. Theo was founded by former traders from Optiver and IMC and has previously offered yield-bearing tokenized gold and U.S. Treasury products. The silver leasing will also expand the underlying assets of its yield-bearing stablecoin thUSD. According to RWA.xyz data, the market size for tokenized commodities is about $4.9 billion, covering 130 products. The one-month silver leasing rate in London briefly rose to about 39% in October 2025, while the historical norm is below 1%; the market expects a supply gap in silver for the sixth consecutive year in 2026, with a gap of about 46.3 million ounces.
Dunamu and NAVER's Share Swap Transaction May Face Shareholding Limit Conflicts
ChainCatcher reports that, according to Yonhap News Agency, the share swap transaction between Dunamu, the parent company of Upbit, and a subsidiary of South Korean internet giant NAVER may have uncertainties. The South Korean National Assembly's Legislative Investigation Office disclosed that the related transaction may simultaneously face minimum shareholding ratios for subsidiaries as stipulated by the Fair Trade Act, as well as maximum shareholding limits for major shareholders of virtual asset exchanges. Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, necessitating adjustments to the governance structure. The South Korean Fair Trade Act stipulates that holding companies must hold at least 30% of listed subsidiaries and at least 50% of non-listed subsidiaries; for venture capital holding companies, the requirement is 20%. The second phase of discussions on South Korean virtual asset legislation also involves the maximum shareholding limits for major shareholders of exchanges to reduce the concentration of control and conflicts of interest among specific shareholders.
Warsh Press Conference Preview: Can He Avoid the Communication Incident of July?
ChainCatcher reports that in the preview of Warsh's press conference, the market is focused on whether he can clearly explain policy decisions and avoid the communication incident of July. Analysts from French foreign trade bank expect Warsh to explain the rate hike as a necessary measure to control inflation. If the Federal Reserve raises rates as scheduled, the market will pay attention to Warsh's views on inflationary pressures. Reuters points out that Warsh needs to respond to Trump's calls for rate cuts in a sensitive political environment and emphasize the independence of the Federal Reserve.
Jonah Burian: Lessons from the Cryptocurrency Cycle Apply to AI Investment
ChainCatcher reports that Blockchain Capital investor Jonah Burian stated: the cryptocurrency market accelerates market cycles, with early companies having liquidity through tokens, and market behavior defaults to being public; these lessons apply to AI investment. Huge outcomes are contagious and trigger FOMO; after Bitcoin became a trillion-dollar asset, Ethereum and Solana proved that more significant outcomes are possible, leading to the rise of alt-L1 trading, with VCs treating new L1s as lottery tickets. Similarly, OpenAI and Anthropic are moving towards trillion-dollar scales, with each new lab priced as a lottery. L1s were financed at billion-dollar valuations based on white papers and founding teams, while new labs are financed at billions based on research papers and teams poached from OpenAI, Anthropic, or Google DeepMind. After hot money floods in, rapid speculative funding always emerges; the cryptocurrency market has experienced operations like tokens as products and high FDV with low circulation, and similar dynamics are playing out in AI, but AI prices are formed in opaque semi-liquid secondary markets, unlike publicly traded cryptocurrency tokens. The scarcity of block space has turned into abundance, becoming a commodity, with applications capturing most of the value. In AI, models may become commoditized, with value shifting upstream and downstream, while applications and hardware layers gain profits, and the model layer gets squeezed. During the frenzy phase, financial capital over-funds infrastructure; new labs betting only make sense when large-scale R&D returns are assumed, and the history of cryptocurrency and alt-L1 should make one skeptical of this unless AGI arrives.
Hamas Military Branch Suggests Donors Avoid Binance, Use Platforms like Bybit and OKX Instead
ChainCatcher news, according to CoinDesk, documents from the asset forfeiture order released by the U.S. Department of Justice (DoJ) show that Hamas's military wing, Al-Qassam Brigades, suggested in a letter to potential donors not to use Binance to transfer funds, but instead recommended platforms such as Bybit, OKX, Kast, and Redotpay. The letter advised using Tether's USDT stablecoin and the TRC-20 network, which is used to create and manage fungible tokens on the Tron blockchain. The Al-Qassam Brigades stated in the letter: "It is best not to use the 'Binance' platform for transfers, and do not input any data indicating our official name to avoid your wallet being blocked, and for your safety (inputting any fictitious data as the recipient); you can transfer via applications like Trust Wallet, RedotPay, OKX, Kast, BYBIT." The organization claimed that Binance "can only be used to purchase currency, and then another application must be used to complete the transfer process." Binance's Chief Compliance Officer Noah Perlman responded that the terrorist organization's recommendation for people to avoid Binance indicates that its control measures are working. OKX stated that the wallet address mentioned in the February 10, 2025 communication is unrelated to them and has been identified by their internal controls as associated with illegal activities, and related transfers will be flagged and blocked. Kast stated that it has a dedicated financial crime compliance department. The U.S. Treasury noted in its 2026 terrorism financing risk assessment that organizations like Hamas and ISIS continue to use digital assets for donations and transfers.
UK Treasury Submits Crypto Regulation Amendment, Including Stablecoin and DeFi Exemptions
ChainCatcher news, according to The Block, the UK Treasury has submitted a crypto regulation amendment that includes exemptions for certain stablecoin transactions, custody arrangements, and technical services involving DeFi protocols, which requires parliamentary approval. Coinbase's European policy director Katie Harries welcomed these changes but noted that regulated exchanges still face barriers in seeking access to DeFi.
U.S. Mortgage Rates Exceed 7%, Hitting New High for 2025
ChainCatcher news, the U.S. 30-year fixed mortgage rate reached 7.22% on September 15, marking a new high since January 2025. Rising U.S. Treasury yields have led to increased lending costs for banks, with the market betting on a high probability of the Federal Reserve raising interest rates. Data from the National Association of Realtors shows that existing home sales fell 2% month-over-month in August, annualized at 3.98 million units, the lowest since June of last year. High mortgage rates are exacerbating the downturn in the real estate market, leading to increased buyer hesitation and pressure on builders' profits.
European Stock Markets End Downturn, Oil Prices Fall and Bond Sell-off Slows
ChainCatcher news, European stock markets ended a two-day downturn due to falling oil prices and a slowdown in bond sell-offs. Traders are awaiting the Federal Reserve's interest rate decision, with a 94% probability of a rate hike. Bill Dinning, Chief Investment Officer at W1M Wealth Management, stated that a 10-year U.S. Treasury yield reaching 5.5% would put pressure on the stock market.
MEV Bot Yoink Outsmarts Hacker, Seizes 2882 rsETH
ChainCatcher news, according to CoinDesk, an attacker exploited a permission verification flaw in the Multicall contract authorized by a Safe multi-signature wallet, attempting to steal approximately 2900 rsETH (about $7.8 million). However, the automated trading bot Yoink discovered the transaction in the public trading pool, paying about $47,000 in fees to execute the transaction first, intercepting 2882 rsETH and transferring it to another address. BlockSec, Blockaid, SlowMist, and AstraSec confirmed that the vulnerability lay in user-authorized components, not the core Safe contract. The issuer of rsETH, Kelp DAO, has implemented a 24-hour pause on the receiving address.
Phishing Websites Use Meme Coin Showcase Pages to Attract Traffic, Many Traders Fall Victim to Heavy Losses
ChainCatcher news, recently, meme coin markets have been booming, with on-chain trading becoming increasingly active. However, alongside the warming market, highly disguised phishing links frequently appear on meme coin showcase pages, with "novel" attack methods causing many seasoned traders to fall victim. Crypto KOLs @insidecalls and @cladzsol recently revealed that while scanning the chain, they clicked on a meme coin homepage, resulting in a "cloudfare verification" prompt. After following the prompt to "complete verification," the victims' on-chain funds were stolen, with @cladzsol losing approximately $600,000 in assets. According to market news, on several recently popular meme coin showcase pages, the homepage redirects to a "cloudfare verification" page, which is actually a phishing link. If users follow the prompts, their computer systems will download and execute malicious scripts, leading to asset loss. This phenomenon is so rampant, possibly related to the delayed review processes of mainstream trading aggregation platforms like DexScreener. Currently, the display logic of related platforms is to directly reference the "official website" or social media links filled in the token metadata. These fields can be updated by token creators or those claiming "community takeover" later. Hackers are exploiting this review loophole to turn meme coin showcase pages into new "fishing grounds" for phishing attacks. Users may inevitably click on unfamiliar links while scanning the chain; if they encounter "cloudfare verification" or other highly suspicious pages, they should close them directly to avoid interaction and protect their assets.
USD.AI Secures $40 Million Revolving Debt Financing from K3 Capital
ChainCatcher news, AI infrastructure financing protocol USD.AI announced that it has secured $40 million in stablecoin revolving debt financing from crypto-native asset management firm K3 Capital to support the launch of new financing products. This financing provides short-term credit secured by sUSDai, which can be drawn, repaid, and reused on demand. USD.AI loans have a three-year term and are repaid monthly, with a shorter cycle for funds entering and exiting sUSDai. K3 Capital co-founder Kiril Nikolov stated: K3's strategy is to identify inefficiencies in such market structures and support trusted teams, willing to provide short-term credit secured by sUSDai. David Choi, CEO of Permian Labs (the developer of USD.AI), stated that the company is preparing to launch new products that require more flexible short-term funding sources, and K3 designed the on-chain credit arrangement accordingly. This financing builds on the existing liquidity relationship between the two parties. USD.AI provides non-dilutive financing to AI infrastructure operators, with loans being non-recourse and secured by underlying GPU infrastructure. Previously, USD.AI also announced it secured $100 million in stablecoin debt financing from Bullish. K3 Capital has been managing strategies such as interest rate arbitrage and liquidity provision since 2021.
Eleanor Terrett: Tensions High Before Clarity Act Vote, Negotiations Enter Final Countdown of About 1 Hour
ChainCatcher news, Crypto In America host Eleanor Terrett posted that there is only about one hour left before senators vote on the Clarity Act, with a tense atmosphere among negotiators on Capitol Hill as negotiations enter the final stages. The Democrats still insist on amendments to the ethical provisions of the bill. Any further adjustments may require White House approval again, and those involved are aware that time is running out. A Democratic source stated: A lot of hard work is underway, but time is very tight. A Republican source expressed a similar view. An industry insider told her on Capitol Hill that after speaking with lawmakers, it is expected that the bill will not secure the 60 votes needed for advancement. She also noted that this is Congress, and anything can happen.
MEV Bot Executes Front-Running Trade in $7.8 Million rsETH Attack
ChainCatcher news, the MEV bot named Yoink on Ethereum executed a front-running trade in a vulnerability attack against the Safe wallet, with PeckShield labeling the incident as an approximately $7.81 million rsETH attack. On-chain records show that the Yoink transaction received 2,900 rsETH and sent 2,882.37 rsETH to address 0xC70f00CD7E461686b04B0E912E309becA8b80ea0, which currently has a balance of 2,882.36740883 rsETH. The same transaction also sent 17.63 rsETH to the Uniswap v4 Pool Manager, which sent 18.95 ETH to the Yoink contract, which then transferred 18.93 ETH to the block builder. The Yoink transaction and the original attack transaction both fell within Ethereum block 25980525, with the Yoink transaction at the top of the block, and the original transaction executed a rollback, consistent with the front-running judgment of security researchers. BlockSec attributed the vulnerability to a lack of authorization checks in the executor contract associated with the enabled Safe modules, allowing calls controlled by the attacker to be executed through trusted executors. Blockaid stated that the attacker exploited public keeper multi-calls to direct a custom Uniswap v4 liquidity module to a peg pool created by the attacker, which subsequently unpacked aEthrsETH into rsETH.
Meme Popularity Rankings
According to data from the meme token tracking and analysis platform GMGN, as of September 17, 08:45,
The top five popular ETH tokens in the past 24 hours are: MOTO, UNI, SEND, STOCKER, LINK
The top five popular Solana tokens in the past 24 hours are: PAID, STONK, ELON, HYPED, POT
The top five popular Base tokens in the past 24 hours are: Basecat, VVV, SOL, DRV, LAPTOP
What are the exciting articles worth reading in the past 24 hours?
Is the Failure of the Clarity Act a Bad Outcome?
Zach Pandl, the head of research at Grayscale, stated that the regulatory framework for areas such as stablecoins, token issuance, tokenized securities, and perpetual futures is gradually becoming clearer. The GENIUS Act has established a federal framework for payment stablecoins. Bernstein warned that if legislation is obstructed and combined with tightening monetary policy signals, crypto assets and crypto stocks may experience significant pullbacks. The text, referred to by Republicans as "the last best and final" proposal, failed to secure 60 votes but left a baseline that Republicans are willing to concede, potentially serving as a starting point for the next round of negotiations.
The Tragedy of CoinEx: Limited Income and Infinite Risks
As of now, Bitcoin has fallen about 40% from its historical high, while Ethereum's decline is still close to 50%. A few leading exchanges hold the vast majority of user custody assets. After the EU's MiCA regulation came into full effect in July, over 80% of registered companies failed to obtain licenses. Ongoing expenses for licenses, risk control, and legal affairs are a long-term burden for platforms with limited trading volume. When a trading platform's business scale cannot support compliance costs, there are not many visible paths ahead. It either exits the market or finds other ways to maintain cash flow. CoinEx chose the former, returning assets to users and exiting gracefully. As for the small and medium exchanges still at the table, there is no answer on which path they will take. What is certain is that funds from Iran and other sanctioned regions will not simply disappear due to the exit of one exchange; they just need to find the next entry point.
Goldman Sachs predicts in its baseline scenario that if subsequent inflation data is sufficiently mild, the Federal Reserve will pause rate hikes after this week's meeting, and volatility will gradually decline as the risk of rate hikes diminishes. According to scenario analysis from JPMorgan's strategy team, if the Federal Reserve raises rates without forward guidance (baseline scenario), the S&P 500 index is expected to rise by 25 to 75 basis points; if Waller unexpectedly releases a strong signal to "crush inflation," the stock market may face a decline of 1% to 2%. The most dangerous tail risk lies in "unexpectedly not raising rates," which would not only trigger a dovish repricing of front-end rates but also cause long-end yields to soar due to inflation concerns and credibility damage, steepening the yield curve sharply and triggering a stock market sell-off.
Benchmarking Robinhood Chain, Can Circle's Arc Really Spark a Meme Market Rally?
Since the beginning of this year, a number of projects such as Scroll, Harmony, Moonbeam, Saga, Lisk, Secret Network, Sophon, and Loopring, Dango, DFK Chain have successively shut down or transformed, collectively exiting the underlying competition from established ZK to modular public chains. The survival space for general public chains has been rapidly compressed. What remains are those "realistic public chains" that come with their own scenarios and users. The era where anyone could create a public chain may have already ended.
Citigroup strategist David Bieber stated in a report: "In the past week, as the market chased rising yields, short positions quickly accumulated." He added that short positions "are tactically at extremes." High long-term U.S. Treasury yields will affect the financing costs of the real economy and suppress risk assets. Rising long-term U.S. Treasury yields will transmit to the real economy through mortgages, corporate bonds, and other credit markets. The 30-year fixed mortgage rate in the U.S. has already been affected by the 10-year Treasury yield breaking above 5%, leading to higher financing costs that constrain the recovery of the housing market. For the stock market, rising long-term Treasury yields also mean an increase in the discount rate used for valuations, which is theoretically particularly unfavorable for growth stocks that rely on forward earnings expectations. However, the U.S. stock market is still supported by corporate earnings growth and the AI investment boom, and has not yet shown a significant response matching the volatility of the bond market…
Senator Warren Slams the CLARITY Act: Paving the Way for Trump's Corruption
So you have to ask yourselves, why are we here? We need crypto regulation, that's true, but we do not need a bill drafted by the crypto industry that only benefits the most extreme voices within the crypto industry, at the expense of our national security and economic stability, and helps the most corrupt president in U.S. history become richer. I urge my Republican colleagues to come to the negotiating table and negotiate a truly bipartisan crypto bill. But before that, I urge my colleagues to vote against it. Mr. Chairman, I yield back my time.
After a Trip to Almaty, I Reassessed Payments in Kazakhstan
So after returning this time, my biggest realization about Kazakhstan is not: "Payments here are more developed than I imagined." But rather: It has already begun to change the topic. The past question was: How to transition a market from Cash to Digital? Today's question is increasingly becoming: Once Payments are sufficiently Digital, how to truly achieve Interoperability? Kaspi has solved a large part of the previous question. And Kazakhstan in 2026 has already begun to answer the next question.
From ARGUS to ARCAT: What Are the "P Youngsters" Chasing on Arc's Launch Day?
ARCAT is a cat meme coin on the Arc chain. Its image and narrative come from a "Cat Bat Hat Fat Rat" cat video previously shared by the official USDC account, and the community slogan is "the cat that runs the chain." According to the project team, ARCAT has no presale or team shares, with a trading tax of 0%, and the LP has been burned, with contract ownership also relinquished. The project’s official website also showcases interactions of likes from Circle's global marketing head Peter Schroeder and chief business officer Kash Razzaghi regarding ARCAT-related content, but currently, there is no official endorsement from Circle or Arc.
Now, under the multiplier effect, RL is giving rise to monsters with "research intuition." Coincidentally, just yesterday, Ultraman posted a lengthy article on X, predicting two possible disastrous outcomes for AI. Humanity hands over control of the future to AI. "This is absolutely unacceptable. We firmly stand on the 'human team,' and AI must always serve humanity. To ensure this, our alignment and safety technologies must always stay ahead of the model's capability advancements." Extreme concentration of power. If an extremely powerful AI is monopolized by a few individuals or a single company, imposing their worldview on humanity, the result will be extremely dystopian. However, Ultraman and Dario, who call for slowing down, have not stopped. This month, GPT-6-Sol and Opus 5.2 will have another battle. Who will be the first to reap the rewards of RSI…
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