Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

U.S. Senate Republican lawmakers have released the revised text of the new CLARITY Act, with only days left until the first procedural vote on September 15. Sen. Cynthia Lummis and other Republican senators unveiled the 630-page revised bill on Thursday, stating that it has incorporated 114 amendments proposed by Democrats, and emphasizing that the legislation aims to establish the U.S.’s first comprehensive regulatory framework for crypto markets. The new bill adds regulatory provisions targeting "non-decentralized finance (DeFi) transaction protocols." Protocols meeting the definition would need to register with the U.S. Commodity Futures Trading Commission (CFTC), with supporting rules to be developed by the CFTC and the U.S. Department of the Treasury. Meanwhile, the bill further clarifies that DeFi-related provisions primarily apply to spot and cash digital commodity transactions. However, there remains significant uncertainty over whether the bill can move forward. The new text has no major changes to ethical provisions, which remain under the enforcement authority of the U.S. Department of Justice, while Democrats had previously pushed for granting state attorneys general more law enforcement powers. Additionally, issues such as stablecoin yields, illicit finance, and conflicts of interest related to Trump’s crypto assets remain major sticking points in bipartisan negotiations. The Senate will hold a procedural vote on advancing the CLARITY Act on September 15. Since 60 votes are required to move the legislation forward, and Republicans currently hold only 53 seats, Democratic support is critical for the bill’s progress.

Coinbase has rebranded its Base App to Coinbase Wallet, shifting the product’s focus from social features to multi-chain transactions. Ryan Kass, head of product at Coinbase Wallet, stated that the rename marks a return to the product’s core positioning of “trading all assets”, meaning users will be able to trade assets on any blockchain via the Wallet. The product currently supports assets including Solana, Hyperliquid perpetual contracts, and multi-chain tokenized stocks. Coinbase will continue using the Wallet as a “test kitchen” for new assets and trading experiences. Kass added that new products like Robinhood Chain and Hyperliquid perpetuals will first launch on the Wallet, before being rolled out to Coinbase’s retail trading platform once they mature. This adjustment signals Coinbase is moving away from the “super app” strategy it had adopted for Base App. Launched in 2025, Base App sought to integrate crypto trading, social, messaging, AI tools, and the creator economy, but growth in its social and creator token businesses failed to meet expectations. Now, Coinbase is refocusing its competitive efforts on trading entry points. Facing competition from emerging on-chain trading platforms such as Robinhood Chain, Coinbase aims to establish the Wallet as an on-chain trading gateway that “can buy anything, anywhere” by expanding multi-chain asset coverage.

Beating AI Express News: OpenAI has launched the "ChatGPT Financial Services Tool" targeted at investment bankers and equity researchers, aiming to drive AI adoption in financial institutions and compete with rival Anthropic for the enterprise market. OpenAI says the tool will integrate data sources including Daloopa, PitchBook, and London Stock Exchange Group news, along with the new GPT-6 Astra model, and will add the company’s next-generation AI models in the future. The product’s dataset covers earnings call transcripts, financial statements, and corporate fundamentals, and offers detailed citation features to help users trace the sources of data and insights. OpenAI notes the tool’s goal is to help financial teams conduct research, build financial models, and produce institution-compliant client materials more efficiently. OpenAI’s Vice President of Product Terry stated that the company is enabling ChatGPT to "conduct research like an analyst and support its conclusions in the same way an analyst would." Reports point out that OpenAI is steadily expanding its enterprise customer share, as enterprise business carries higher profit margins than its long-dominant consumer business.

According to official announcements, Hyperliquid has launched trading for the SNXX contract, the Tradr 2X Long SNDK Daily ETF, with a maximum leverage of 10x. Data shows that the SNXX code was purchased by trade.xyz for 500 HYPE.

According to official announcements, trade.xyz has launched Events, officially entering the prediction market space. Events will cover categories including sports, politics, economics, and financial markets, with plans to continuously expand its category scope and contract types. Users can deposit spot BTC, borrow USDC via portfolio margin, open positions in pre-IPO SpaceX perpetual contracts, hedge upcoming SK Hynix earnings events using the event markets, and predict the US Open champion. trade.xyz’s initial Up/Down markets, similar to binary event contracts, cover stocks, commodities, and pre-IPO assets, backed by the depth and liquidity of trade.xyz’s perpetual contracts under HIP-3. These perpetual contracts deliver continuous price discovery and serve as settlement sources, so each contract is priced based on XYZ’s liquid market prices rather than external oracles.

Beating AI Flash News: NVIDIA CEO Jensen Huang stated at a Goldman Sachs conference that cybersecurity is the next key application scenario for AI. Additionally, Huang revealed that NVIDIA’s Grace Blackwell shipments rose 27% month-on-month. The company’s stake in Anthropic is growing rapidly, and he emphasized that NVIDIA’s relevant investments are not circular investments.