Odaily reports that a16z partner Chris Dixon posted on X regarding the CLARITY Act's failure to pass a procedural vote in the U.S. Senate, stating that despite disappointment with the vote outcome, the fundamentals of the crypto industry remain stronger than ever.

Dixon said that billions of dollars are now flowing on-chain, leading payment companies and financial institutions are adopting blockchain technology, and entrepreneurs worldwide are developing new financial products. a16z's related work in Washington is far from over, and it will continue to push for clear regulatory rules that both protect consumers and support entrepreneurs' development.

According to Odaily, ChatGPT posted on X that GPT-5.5 will officially be discontinued across all plans of ChatGPT, ChatGPT Work, and Codex on October 14. Users currently using GPT-5.5 in Codex will need to switch to GPT-5.6 Sol or GPT-6 Astra.

Odaily reports, according to GMGN data, mainstream Meme coins in the BSC ecosystem have pulled back, but fruit fly-related concept tokens are seeing active speculation. Among them:

Niu Lai's market cap is now reported at $118 million, with a 24H decline of 3.6%;

Marscoin's market cap is now reported at $87.3 million, with a 24H decline of 5.8%;

4Stock's market cap is now reported at $10.1 million, with a 24H decline of 37.8%;

b-money's market cap is now reported at $4.1 million, with a 24H decline of 33.7%;

FLOCK's market cap is now reported at $4.1 million, with a 24H decline of 45.9%;

Fruit Fly's market cap is now reported at $3.4 million, with a 24H gain of 828x.

Earlier news, CZ posted on X platform stating that if someone could create "immortal fruit flies" on BNB Chain, it would be pretty cool.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.

According to Onchain Lens monitoring, a Hyperliquid whale closed BTC and ETH short positions held for 4 days two hours ago. The BTC short position profited $443,200, and the ETH short position profited $752,900, totaling $1.2 million in profit. This whale has accumulated $4.5 million in realized profits across 39 closed trades, with a win rate of 79.5%.

Odaily News: Jake Chervinsky posted on X that the U.S. Senate did not pass the crypto regulatory bill Clarity Act, but proponents did not compromise on principles during 18 months of research, negotiation, and revision, insisting that it is better to have no bill than a bad bill. He stated that due to political maneuvering in an election year, a good deal was difficult to reach, but the crypto industry can still function without the Clarity Act, and the U.S. SEC and CFTC possess the authority and expertise needed to regulate the crypto market. Jake Chervinsky believes that the discussion on crypto regulation has only just begun, and there remains room for future policy prospects.

Odaily Report: Ripple CEO Brad Garlinghouse posted on X regarding the CLARITY Act's failure to pass a procedural vote in the U.S. Senate, stating that the outcome is disappointing. The Ripple team and the crypto industry invested significant effort in pushing for the bill's passage, but ultimately fell short.

Garlinghouse stated that the U.S. crypto industry still has reason to remain optimistic, as the SEC and CFTC will continue to develop relevant rules to fill the legislative gap left by the CLARITY Act's failure to advance, and Ripple will continue to participate in the rulemaking process. He also stated that this voting failure will not change Ripple's business momentum, global expansion, or customer demand.

Odaily News: According to CoinGlass data, total liquidations across the network reached $585 million over the past 12 hours, of which long positions accounted for $498 million and short positions accounted for $86.4012 million.

In addition, BTC liquidations totaled $206 million and ETH liquidations totaled $202 million, together accounting for approximately 69.7% of total network liquidations over the past 12 hours.

Odaily reports: Crypto trader Bonk Guy posted on X that, with the CLARITY Act failing to pass and the broader crypto market under pressure, USELESS has continued to show notable relative strength, outperforming BTC, SOL, DOGE, and PEPE across multiple timeframes.

Bonk Guy reiterated that he believes USELESS has the potential to become a gainer similar to DOGE and SHIB, calling it "the meme coin of this cycle."

According to GMGN data, USELESS currently has a market cap of $217 million, with a 24H gain of over 10%.

Odaily: OpenAI is in preliminary discussions with investors for a new round of private funding at a target valuation of approximately $1.2 trillion, as it prepares for a future IPO. According to people familiar with the matter, OpenAI reached a valuation of $852 billion after completing a funding round in March this year. Recently, as the latest AI models drove a rebound in market demand, the company has been discussing further funding plans with large investors. The negotiations remain at an early stage, and the final valuation and funding size may change.

OpenAI CEO Sam Altman previously said the company's IPO may not come before 2027, and that going public amid rising discussions about AI safety risks may not be the best timing. The report said that after the release of new models such as GPT-5.6 and Astra, OpenAI's revenue growth has accelerated, with annualized revenue exceeding $40 billion. The company has previously said it has sufficient funds, but training large models still requires sustained and substantial capital investment. (Financial Times)

Odaily reports: U.S. Senator Cynthia Lummis, one of the main drafters of the CLARITY Act, issued a statement after the bill failed to advance, accusing Senate Democrats of "never truly being serious about protecting consumers and preserving American leadership."

Lummis said that over the past year she had been negotiating with Democratic lawmakers, but after Republicans met their demands, Democrats kept raising new ones and "constantly moving the goalposts." She said Democrats voted that day against restricting political figures' personal crypto investments, and also against protecting consumers from the scams and fraud the bill was intended to target.

Lummis further accused Democrats of "choosing politics over the American people," arguing that the move cedes America's leadership in digital assets to overseas competitors and could push some crypto businesses to relocate abroad. She also leveled a series of criticisms at Democrats, including being "anti-consumer, pro-illegal finance, and anti-business freedom."

Odaily News: According to MSX data, at the US stock market close, crypto-related stocks fell broadly, with Circle dropping over 11%, Coinbase dropping over 10%, Bitmine dropping over 8%, Strategy dropping more than 5%, and Robinhood dropping over 3%.

On the news front, the US Senate held a procedural vote on Tuesday on the Digital Asset Market Clarity Act (CLARITY Act), which ultimately failed to advance with 49 votes in favor and 50 against.

According to Bitcoin News monitoring, JAN3 has stated that its newly launched swap infrastructure Indra has suffered a denial-of-service attack, and the team has temporarily disabled forward swaps while investigating. Swaps already in progress may experience delays. Indra, developed by JAN3, is designed to replace Boltz in Aqua, enabling users to move Bitcoin between Lightning and Liquid, though Liquid peg operations remain restricted.

Odaily Report: Brian Armstrong posted on X platform that the CLARITY Act failed to advance in the Senate today, which is disappointing. Bipartisan dialogue may continue, and the bill could be reintroduced in the future, but we can no longer wait for Congress. The SEC and CFTC can establish clear rules under existing authority, and he expects both agencies to begin seriously advancing this work, so regardless, cryptocurrency regulatory clarity will come.

Brian Armstrong stated that the GENIUS Act has become the current law in the stablecoin space, with more lenient provisions on rewards. He said that relevant teams made some unacceptable concessions in the CLARITY Act, so the bill's failure to advance may be the best outcome. Cryptocurrency cannot be eliminated, and as regulators gradually clarify the rules, relevant parties will continue to push for updates to the financial system.

Odaily News: U.S. Democratic Senator Elizabeth Warren stated that she still hopes to push a crypto regulatory bill into law, but does not support the current version of the Clarity Act.

Warren said the Clarity Act is Washington's first opportunity to achieve "meaningful crypto regulation," but any bill must include several core elements: regulating public officials' crypto investments, protecting national security and consumers, and strengthening the fight against illicit finance and terrorist financing.

Her stance could become more critical next year. If Democrats regain control of the Senate after the November election, Warren could become chair of the Senate Banking Committee, one of the key bodies for digital asset regulatory legislation. The article notes that Kalshi prediction markets currently show a 52% probability of Democrats retaking the Senate.

When asked whether she would lead crypto legislation if she headed the Banking Committee, Warren said she would be willing. She said she is willing to sit down with Democrats, Republicans, and the industry to craft a crypto bill that protects national security, protects the economy, and reduces corruption.

Odaily reports: Paradis posted on X stating that over the past two weeks, hedge funds have bought US tech stocks at the fastest pace since mid-2025, with newly added long positions mainly concentrated in US semiconductor and semiconductor equipment companies, which also explains the early September rally in stocks such as INTC, BE, and NBIS. Paradis believes that Leopold's timing aligned closely with overall market fund flows and momentum, while Dario's article was published just as hedge funds began rebuilding semiconductor allocations, making the timing less than ideal. Paradis stated that this is a misjudgment of AI infrastructure and capital expenditure growth, as the market remains in an environment of tight supply and constrained compute capacity.

Odaily reports that Bloomberg ETF analyst Eric Balchunas posted on X that Morgan Stanley has filed a rare ETF application involving multiple Eaton Vance state municipal bond ETFs, which currently exist only as closed-end funds or mutual funds. He believes these ETFs could perform well if management fees reach institutional levels or lower.