🐶📰Weekend Update

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Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• Senate failed to advance the CLARITY Act on a 49–50 cloture voteSen. Thom Tillis filed a motion to reconsider

• Fed raised interest rates 25bps in unanimous vote — Goldman Sachs now expects another 25bps Fed hike in October

• SEC granted eligible tokenized-stock platforms and some liquidity providers five years of conditional relief

• Arc mainnet launched and faced a number of issues including team shilling competing memecoins

TradFi

• Warren Buffet resigned from his role as Chairman of Berkshire Hathaway

• Trump has made nearly 29k securities trades across stocks and crypto, more than all of Congress combined

• Two Robinhood engineers were charged with commodities and wire fraud for trading Hyperliquid perps on unannounced crypto listings

• Robinhood CEO Vlad Tenev said stock tokens will add 1:1 in-kind share redemption and voting rights

Crypto

• Kraken parent company Payward announced partnership with Hyperliquid to bring HIP-3 markets to the US — HYPE hit new ATH over $91

• Sam Altman-backed World launched World Money

• House Financial Services voted 28–21 to advance the Strategic Bitcoin Reserve bill

• US equity funds recorded largest outflow since January

AI

• OpenAI launched Astra for Law on GPT-6 Astra — Weighed a funding round at a $1.2T valuation before an IPO

• Zuckerberg said Meta delayed Muse to focus on safety and security

• Claude introduced new Projects feature

• Nous opens Hermes Business team accounts with shared balances