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Crypto

Aave Labs proposes Aave Foundation in Cayman Islands, governance powers to remain with DAO

Aave Labs submitted an ARFC proposal to establish an ownerless Aave Foundation in the Cayman Islands. The foundation would hold, protect and license intellectual property including the Aave trademark, key domains and protocol code. The proposal covers a first phase focused on registration and appointments, with related registration, legal and establishment costs borne by the decentralised autonomous organisation (DAO). Governance powers would remain with the Aave DAO.

Crypto

Hoskinson says Clarity bill stall was expected due to lack of bipartisan consensus

The U.S. Senate failed to advance debate on the Clarity bill on digital asset market structure after it fell short of the 60 votes needed in a procedural vote, with all Democrats and 4 Republicans voting against it. Cardano founder Charles Hoskinson said the outcome matched his earlier warning, citing weak bipartisan consensus, unclear regulatory definitions, questions over oversight capacity and the attempt to bundle multiple issues into one sweeping bill.

Crypto

BitMart shutdown fuels confusion as founder says he will not run away

BitMart founder Sheldon Xia denied allegations he had disappeared with customer funds as the cryptocurrency exchange moves toward shutting down. Xia said the firm is conducting an asset inventory, consolidating assets and maintaining systems, and will issue official notices in sequence. His statement did not include a reserves report or a withdrawal timetable. BitMart announced on July 26 it would orderly close the platform, after users complained about access and withdrawals.