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U.S. House Financial Services Committee holds a hearing on the CLARITY Act today, with the updated text possibly delayed until next week.

1 hours ago

Crypto journalist Eleanor Terrett posted on X that Republican members of the U.S. House Financial Services Committee will hold an in-person hearing in New York at 10 a.m. ET, focusing on how the CLARITY Act can drive innovation in the digital asset space. The hearing is an informational session designed to gather industry input and discuss policy implications, and will not impact the Senate’s ongoing consideration of the bill. Meanwhile, the updated legislative text of the CLARITY Act has not yet been released. Citing industry sources, Terrett noted that crypto industry leaders currently expect the updated text to be delayed until next week.

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Chair of the U.S. House Committee on Administration: CLARITY Act Expected to Pass the Senate Next Week

US Congressman Bryan Steil expressed optimism on Fox News that the CLARITY Act is expected to pass the Senate next week, stressing that the U.S. needs to set a gold standard for regulation in the digital asset space. Steil currently serves as Chairman of the House Administration Committee, and also chairs the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence under the House Financial Services Committee.

13 minutes ago

New-generation Doubao smartphones have a stock of hundreds of thousands of units, and the AI will no longer forcibly integrate into leading apps.

The new generation Doubao phone has adjusted its collaboration model with leading Chinese super apps including Alibaba and Tencent. It will no longer conduct screen reading, click simulation, or human-like app operations (the so-called GUI technology) after obtaining user authorization. The phone can only integrate with these apps if they independently provide MCP services, open partial data, and allow operational control. A source close to the Doubao phone initiative stated that the new model’s inventory has increased from 30,000 units to hundreds of thousands. “Phones can’t stay in the technical trial phase forever—they have to be sold eventually,” the source added. (LatePost)

13 minutes ago

Bloomberg analysts: Bitcoin may replicate the trend following the launch of gold ETFs, undergoing a "painful pullback" and a "patience-testing recovery"

Bloomberg ETF analyst Eric Balchunas said Bitcoin ETFs are likely to follow gold’s volatility trajectory, experiencing "stunning rallies" and "painful pullbacks" that will test investors’ patience. Balchunas noted that both gold and Bitcoin are non-yield-bearing stores of value that generate no cash flow. Their demand, driven by market sentiment, can lead to both "price surges" and prolonged stagnation. As such, Bitcoin ETFs may follow the same playbook: stunning gains, painful pullbacks, and a recovery that could test investors’ patience.

13 minutes ago

Tom Lee: AI bottleneck stocks have pulled back, Ethereum, as a key downstream asset for AI, has promising performance.

Tom Lee posted a note after the U.S. stock market opened that amid the pullback in AI bottleneck stocks (represented by semiconductor ETFs), downstream assets including MAGS, IGV, and Ethereum are delivering absolute returns. Citing data, Lee pointed out that Ethereum has outperformed DRAM by 55% over the past month, emphasizing that ETH, as a key downstream asset for AI, can act as a "guardrail" of consumer trust for the AI sector.

13 minutes ago

AI inference startup General Compute has secured a $400 million loan, in what is the first financing transaction backed by inference-specific chips as collateral.

AI inference-focused startup General Compute recently secured a $400 million loan from Upper90, marking the first financing transaction backed by inference-specific chips as collateral. The company builds its dedicated cloud platform using SambaNova ASIC chips. General Compute closed a $15 million seed round in May, positioning itself to proxy AI workloads, delivering faster token processing speeds and lower latency than traditional GPU-based clouds, with deployments in existing data centers including crypto mining facilities.

13 minutes ago

One hour ago, a founding investor of Lido deposited 4.3 million LDO tokens they have held for five years into Kraken.

According to monitoring by Chinese crypto analytics platform Yu Jing, an initial institutional investor in Lido transferred 4.3 million LDO tokens (valued at $1.61 million) to Kraken one hour ago, after holding the assets for five and a half years. The institution received an allocation of 5 million LDO tokens in December 2020; at the 2021 bull market peak, these tokens were worth $30 million, while their current market capitalization stands at just $1.88 million. However, the investor’s cost basis for acquiring the LDOs is only $0.0085, meaning it still holds over 40x profits even at today’s prices.

13 minutes ago

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