Odaily News: New York Attorney General Letitia James has joined attorneys general from 17 states, including Arizona and California, as well as the District of Columbia, in sending a letter to U.S. Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, formally opposing the Digital Asset Market Clarity Act (Clarity Act).
The coalition warns that the bill would weaken states' enforcement authority to combat cryptocurrency fraud and grant the SEC unilateral power to override state registration agencies, potentially undermining the existing state securities regulatory framework. FBI data shows that cryptocurrency-related complaint losses reached $11.4 billion in 2025, up 22% year-over-year; New York State has reported nearly $500 million in crypto fraud losses over the past five years.
Odaily News: According to multiple sources, even as AI safety issues have become a hot topic of the times, Anthropic may still go public in 2026, and its IPO schedule remains unchanged. (Axios)
Odaily News: Miles Jennings, Head of Policy and Regulation at a16zcrypto, wrote that the U.S. Senate should push for the passage of the Digital Asset Market CLARITY Act. Jennings stated that the risks exposed by the FTX collapse—such as customer asset segregation, custody, and information disclosure—are not complex, yet the existing digital asset market still lacks regulatory safeguards similar to those in traditional financial markets. The CLARITY Act would require digital asset brokers, dealers, and exchanges to implement measures such as customer asset segregation, qualified custody, information disclosure, and insider trading restrictions, while also clarifying the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Miles Jennings warned that with stablecoin supply now exceeding $300 billion and the market value of tokenized assets surpassing $30 billion, if the Senate fails to act this time, the impact of the next market collapse could be greater than that of the FTX incident.
Odaily News: Amid pressure from AI giants calling for a slowdown, sticky inflation, and the looming threat of rate hikes, US stocks plunged across the board on Monday, with the Philadelphia Semiconductor Index plummeting nearly 6%. Yet JPMorgan reaffirmed its bullish stance against the tide, warning that blind pessimism can easily lead to missing out on gains.
Mislav Matejka, JPMorgan's Head of Global and European Equity Strategy, also once again issued a warning to aggressively bearish investors: while surging oil prices do suppress valuations, blindly betting against US stocks is extremely dangerous before the overall earnings expansion of American companies has been disproven. Once US President Trump subsequently attempts to cool tensions in the Middle East through diplomacy, or if third-quarter earnings exceed expectations, the forces of excessive shorting may face a fierce backlash from returning capital.
On this basis, JPMorgan as early as August had already raised its year-end target for the S&P 500 Index from 7,800 points to 8,000 points against the tide, and expects earnings per share of its constituent stocks to surge 29% year-over-year to $350.
Odaily reports: U.S. Senator Cynthia Lummis posted on X that the Senate will face a critical choice tomorrow: whether to solidify the United States' leadership in the digital asset space, strengthen consumer protections, and equip law enforcement with the tools needed to combat illicit finance, or allow the crypto industry to move overseas. She stated that if the U.S. fails to establish a clear regulatory framework for digital assets in a timely manner, American consumers will face greater risks, and its leadership in this field could be undermined. The CLARITY Act is now before the Senate, and such a legislative opportunity may not arise again for years to come.
Odaily reports that Ethlabs researcher Derek Chiang stated that the account abstraction collaboration between Base and Ethereum around EIP-8130 and EIP-8141 Frames broke down last week, and the two sides will advance different account abstraction standards separately.
He stated that both sides share the same views on core use cases such as gasless transactions and passkey wallets, but there are clear disagreements on compliance requirements.
Odaily Report: Crypto wallet MetaMask has launched new anti-scam protection features that alert users on mobile and browser extensions about risks including impersonation addresses, investment and romance scams, as well as the risk of transferring funds to a first-time recipient address.
The newly added Added Protection feature can automatically revert transactions that don't match the transaction preview. It is initially launching on browser extensions, with mobile support to follow. MetaMask also uses AI to identify phishing, scams, and malicious transaction behavior. (Decrypt)
Odaily News: The US 10-year Treasury yield has risen to 5%, the first time in nearly three years. (CLS)
According to MSX.COM data, US crypto-related stocks strengthened, with Bullish up over 9%, Coinbase up over 7%, Circle up over 4%, and Strategy up nearly 3%.
Odaily reports that U.S. President Trump stated that the only control needed for AI is a strong president, and America has exactly such a president — to a degree far beyond what is needed. The Trump administration has already stopped relevant figures in the AI field from engaging in bad or potentially bad "behavior," such as Dario, and we will continue to do so. We already possess tremendous capability to exercise criminal and regulatory authority over these companies. Whoever wins AI wins the future. We are leading all other countries and will continue to do so. (CLS)
Odaily reports: Regarding the recent ecosystem-level interactions between Binance and Robinhood, Spigg, a member of the BNB Chain ecosystem, pointed out that Binance Wallet has integrated Robinhood Chain, PancakeSwap has completed its deployment on Robinhood Chain, and Binance Futures has also listed Robinhood Chain tokens; meanwhile, Robinhood has reciprocally listed BNB. Although the two are "competitors," they are still opening their ecosystems to each other.
In response, Binance co-founder CZ posted on X, saying: "The BNB ecosystem is open." He also joked that some ecosystems claim to champion "decentralization" but actually operate like a highly closed "garden."
Odaily News: After US August core CPI inflation heated up again, expectations for a Federal Reserve rate hike in September rose rapidly. As a rate hike this week becomes a high-probability event, the market's focus has shifted to "how US stocks will move after the rate hike."
Jeff Buchbinder, Chief Equity Strategist at LPL Financial, analyzed six Fed tightening cycles since 1994, and the results show that the S&P 500 usually performs weakly in the short term after the first rate hike, but outcomes one year later are notably better than in the initial months.
Compared with 2022, LPL believes the underlying conditions facing the US economy amid rate hikes are clearly different now, and the current macroeconomic environment is closer to the late 1990s. However, that does not mean the 1997 market scenario will reappear. LPL previously estimated that even if the Fed continues to tighten monetary policy this cycle, the overall scale of tightening is unlikely to approach the level seen from 2022 to 2023. In the previous cycle, the Fed raised rates by a cumulative 5.25 percentage points, equivalent to 21 consecutive 25-basis-point hikes. (Investopedia)
Odaily reports: Michael Burry, the real-life protagonist of the film "The Big Short" and a well-known short-seller, launched a fierce attack on the CEOs of OpenAI and Anthropic over their calls to "slow down AI development," pointing directly at what he describes as their self-serving motives.
Burry laid out four core reasons: large language models are not true AI, the intent is to protect vested interests, the goal is to generate hype and buzz for IPOs, and the aim is to conceal struggles with growth. He further pointed out that the so-called "voluntary calls to slow down" are merely a cover for the reality that slowing industry growth has become difficult to control and IPO plans have been forced to delay. (Business Insider)
Odaily News: According to MSX.COM data, US cybersecurity concept stocks strengthened against the market in early trading. CrowdStrike rose over 7%, Zscaler and Palo Alto Networks rose over 5%, and Fortinet, Okta, and Cloudflare rose over 3%.
The storage sector led the declines. Nvidia shares fell 4.1%, TSMC shares fell 3.46%, Broadcom shares fell 4%, SK Hynix shares fell 7.49%, Micron Technology shares fell 7.35%, AMD shares fell 6.2%, ASML shares fell 6.73%, Intel shares fell 7.45%, Lam Research shares fell 8.12%, ARM shares fell 8.08%, and SanDisk shares fell 7.51%.
According to MSX.COM data, the US optical communications sector collectively plunged in early trading. Corning dropped over 9%, while Marvell Technology, Lumentum, and Coherent fell over 8%, and Credo and Ciena declined over 6%.
