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Lummis, CLARITY Act’s Fiercest Proponent, Hit by Crypto Scam Hack
- Lummis' verified X account briefly promoted a fake Solana token before deletion.
- Scam posts targeted the Senate's leading Clarity Act advocate during a critical push.
- Lummis' office had not confirmed the compromise at the time of publication.
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Stablecoin Banking Competition Expands Beyond Settlement
- Stablecoins are gaining ground across payments, payroll, business transfers and settlement.
- Card issuance, foreign exchange, compliance and account management offer providers greater revenue opportunities and stronger customer relationships.
- Stablecoin neobanks face growing responsibility as they combine payments, yield, credit and trading within one product.
Play the Ball, Says Warsh as Fed Keeps Inflation Front and Center; SPY, Bonds React
- Warsh tells markets to play the ball, not the referee.
- Fed chair defends the 2% target and rejects a softer goal.
- SPY turned green, yields eased, and Bitcoin held near $64,237.
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Bitcoin and Gold Jump After Fed Rate Hold Splits FOMC 9 to 3
- Fed holds rates at 3.50% to 3.75% as three officials back a hike.
- Bitcoin climbed toward $64,700 and gold spot touched $4,084 within minutes.
- Fed swaps no longer fully price a September rate hike.
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Why Does XRP Fall Faster Than Every Other Major Coin?
- XRP price sits 67% below its peak, the deepest drop of any major coin
- Smart money and retail are both long, a crowded trap that forces cascading selloffs
- The largest XRP whales cut their supply share from 39.4% to 38.65% since April
The OpenAI Agent That Hacked Hugging Face Reached a Second Firm
- OpenAI's rogue agent exploited customer's vulnerable code hosted on Modal.
- Modal says its own platform and isolation were not impacted.
- OpenAI logged 4 breached accounts across 4 separate public services.
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Why Bitcoin Is Stuck Near $65,000 as AI Fuels Inflation
- AI spending is adding inflation pressure and reducing the chance of near-term Fed rate cuts.
- High bond yields and strong AI stocks are pulling capital away from Bitcoin.
- ETF inflows are improving, but Bitcoin still needs softer inflation and lower yields to break higher.
Meta and BlackRock Form $14 Billion Venture for Texas AI Data Center
- Meta and BlackRock will build a 1-gigawatt AI data center in El Paso.
- BlackRock funds own 80% of the venture while Meta retains 20% and leases it.
- The deal shifts Meta's data center costs off its balance sheet onto investors.
