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CLARITY Bill
2026-09-22 01:48:12

CLARITY bill stalls in Senate as Saxo flags Coinbase, while Arbitrum and ETH staking draw fresh attention

The CLARITY bill, a key crypto market structure proposal in Washington, failed to clear the 60-vote threshold in the U.S. Senate last Tuesday, leaving it unable to advance to floor debate and narrowing its path this year as the calendar tightens ahead of the Nov. 3 midterm elections. In a note published Wednesday, Saxo Bank strategist Ruben Dalfovo said Coinbase faces the greatest exposure because its exchange business is tied most directly to U.S. market structure rules, including registration thresholds, eligible assets and participant requirements. Circle and Strategy, he said, face different risk profiles tied to USDC adoption, reserve interest, bitcoin holdings and financing access. Markets reacted quickly, with shares of Coinbase, Circle and Strategy falling 5% to 10% after the vote and weakening again the next day. Elsewhere, Standard Chartered’s Geoff Kendrick said Arbitrum could outperform Bitcoin and Ethereum by 2030 and projected ARB could rise from about $0.14 to $10, after already gaining 86% over the past month. Bitmine said more than 5.06 million of its 5.95 million ETH holdings are staked, implying annual staking income of $334 million at current rates. Phemex co-founder Federico Variola, speaking on Cointelegraph’s Chain Reaction, called AI a net negative for crypto, while others in the security sector offered a more mixed view.

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CLARITY bill stalls in Senate as Saxo flags Coinbase, while Arbitrum and ETH staking draw fresh attention
BingX
2026-08-05 09:02:18

RootData: BingX Records Widest Spread Among Top 20 Derivatives Exchanges

RootData's stock derivatives exchange rankings, cited by ChainCatcher, show BingX posting the widest spread among the top 20 exchanges as of press time. BingX, OrangeX and Aster led with spreads of 0.299%, 0.281% and 0.182% respectively, while KuCoin (0.133%) and Phemex (0.142%) also exceeded 0.1%. The figures reflect 24-hour volume-weighted spreads; higher values typically signal higher trading costs.

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RootData: BingX Records Widest Spread Among Top 20 Derivatives Exchanges
AFX
2026-07-25 10:55:08

AFX bridge hack tops $24 million as audit gaps and Phemex ties come under scrutiny

Decentralized perpetuals exchange AFX lost more than $24 million after its cross-chain bridge was hacked, an amount that roughly matched the protocol’s full TVL on DefiLlama. After the incident, AFX said on X that it was working with security firms, ecosystem partners, exchanges and relevant authorities to monitor fund flows and assist the investigation. Attention quickly shifted to AFX’s June 3 audit report from Zellic. The report said 11 issues had been identified, including two critical findings, one high-severity issue and six medium-severity issues. Zellic also stated that the review covered only part of the bridge protocol, did not test all security-critical paths and could not be performed in a live or local runtime environment. That meant the firm could not fully assess core areas such as custody, signature checks and permission controls, nor confirm whether fixes were correctly implemented later. ChainCatcher also outlined several public clues suggesting a close relationship between AFX and crypto exchange Phemex, including team-account connections, now-deleted Phemex blog posts promoting AFX, and similarities in brand design. The report noted that Phemex itself was hacked for more than $70 million in January 2025, when outside analysis said North Korean hackers were the likely culprit. It added that more evidence would be needed to determine whether the latest case was another external attack or involved insiders.

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AFX bridge hack tops $24 million as audit gaps and Phemex ties come under scrutiny