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Crypto

Ripple CLO says Clarity Act tied to U.S. jobs and economic growth, September vote in focus

Ripple Chief Legal Officer Stuart Alderoty (스튜어트 알데로티) urged swift passage of the Clarity Act pending in the U.S. Congress, linking the bill to jobs and economic growth. A report by the National Cryptocurrency Association and the Pragmatic Policy Group estimated the crypto industry could create 232,000 U.S. jobs by 2026 and contribute more than $55 billion to the economy. The bill, passed by the House in July 2025, is now awaiting Senate action.

AI & Enterprise

ByteDance founder Zhang Yiming rules out distillation for AI model training

ByteDance founder Zhang Yiming (장이밍) has made clear the company will not use “distillation” techniques to train its AI models, even if it costs more. He has recently become directly involved in the company’s AI strategy, reviewing development progress and hiring. The stance comes as the United States steps up scrutiny of Chinese firms’ use of distillation. ByteDance’s approach is tied to development of its video generation model, Seedance, and large investments in GPUs, data and talent.

Crypto

Former CFTC chair says Clarity bill should not be overhyped, industry innovation to continue

Chris Giancarlo, a former chairman of the U.S. Commodity Futures Trading Commission, said technological innovation in the cryptocurrency industry will not stop even if the Clarity bill pending in Congress fails to pass. He urged the industry not to overestimate the bill and raised concerns about expanded surveillance, saying the bill could draw crypto transactions into Bank Secrecy Act monitoring. He also commented on political factors behind delays and federal regulation of prediction markets.