1.a16z: After the GENIUS Act, there is a more urgent need for the CLARITY Act.

The House of Representatives recently advanced an important new "market structure" bill with overwhelming support (294 votes in favor, 134 against, including 78 Democrats supporting it). This bill, named the Digital Asset Market Clarity Act (CLARITY Act, HR 3633), will establish a clear regulatory framework for the digital asset market. The bill has now been submitted to the Senate for review, where the Senate is working on its own version of market structure legislation, which will reference the CLARITY Act. Click to read more.

2. Ethereum Sprinting to 4000 USD: What Exactly Happened

Ethereum is making history: we are witnessing one of the largest short squeezes in cryptocurrency history. Since July 1, Ethereum's market cap has surged by $150 billion – just a few days ago, net short positions had just hit an all-time high. Click to read.

3. Can ETH really replicate the Summer craze of MicroStrategy?

The reason these trading entities dare to be so aggressive is largely due to the "arbitrage window" created by the U.S. government's bold push for reform in the cryptocurrency industry before the regulatory mechanisms mature. In the short term, they have exploited many loopholes in laws and compliance—such as the ambiguity in accounting standards for classifying crypto assets, the leniency of SEC disclosure requirements, and the gray areas in tax treatment, etc. Click to read.

4. Web3 Front-end Attacks: A New Paradise for Hackers

When most people talk about Web3 security, they usually think of smart contracts. This makes sense. After all, these code snippets control real assets, define protocol logic, and protect user funds worth billions of dollars. For years, security teams have poured endless effort into discovering reentrancy vulnerabilities, access control issues, arithmetic errors, and subtle bugs that only appear under specific execution paths. But in all this obsession with what happens on-chain, we have overlooked the first thing the vast majority of users actually interact with: the front end. Click to read.

5. The "first stock" of stablecoins is unstable

On June 5, 2025, the first stablecoin stock Circle (NTSE: CRCL) went public on the NYSE at an issue price of $31, and in just 12 trading days, the stock price reached a high of $299. The closing price on July 18 was $223.78, an increase of 622% compared to the issue price, with a total market capitalization nearing $50 billion. Although the stock price has fallen 25% from its peak, the risks remain significant. Click to read.