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Crypto

U.S. Senate recess nears; Lummis says she expects Clarity Act vote

Uncertainty is growing over whether the U.S. Senate can act on the crypto market structure Clarity Act before its August recess. Senator Cynthia Lummis said she expects a vote before the month-long break. The Democratic schedule did not list a vote as of that day. Passage would require 60 votes to clear a filibuster. Disputes persist over ethics provisions tied to President Donald Trump and issues including stablecoins and tokenized stocks.

Crypto

Coldcard incident shakes market trust; Benjamin Cowen says memecoins and security flaws hold crypto back

A vulnerability in the Coldcard hardware wallet led to the theft of 594 bitcoin from about 500 wallets, raising fresh concerns about trust in self-custody. Bitcoin analyst Benjamin Cowen said the episode showed the crypto market still has not earned public confidence. Investigators said many affected wallets had been dormant for years before balances drained quickly, with most stolen bitcoin consolidated into a single address.

Crypto

Crypto industry\'s \'winner-takes-all\' trend deepens as exchange closures and takeovers mount

The crypto industry is restructuring as revenue concentrates in a small number of protocols, pushing the market into what was described as its biggest consolidation phase. Ark Invest analyst Lorenzo Valente said selective investment has made funding harder for projects and exchanges with weak product-market fit, leading to shutdowns and revenue pooling. Hyperliquid and Pump.fun account for about 67 percent of app revenue, and adding Ethena brings the top three close to 80 percent.