Prediction Markets Explode, Circle Has Hot Q2, and More – Weekly Recap

WEEK IN REVIEW

Thune Delays CLARITY Act Vote to September Amid Senate Deadlock

The decision comes after Majority Leader John Thune stressed that Democrats insisted on no vote as they still consider that the CLARITY Act needs work regarding the ethics provision.

Editor’s comment:

A failed vote before the recess makes CLARITY unlikely for the remainder of Trump’s presidency.

Bitcoin Red Team Finds 4,962 Flaws After Coldcard Hack

A volunteer security group called the Bitcoin Red Team uncovered 4,962 vulnerabilities, 85 of them critical, across 390 open-source Bitcoin projects over a 27-hour stretch after the Coldcard hack.

Editor’s comment:

Groups like The Bitcoin Red Team and individual projects must now be proactive using AI to run audits. To not do so is negligence.

Circle Posts $701 Million Q2 Revenue as USDC Activity Accelerates

Circle reported stronger second-quarter earnings as USDC circulation and transaction activity expanded.

Editor’s comment:
Days earlier, Morgan Stanley cut its price target in part due to USDC’s dollar-stablecoin share slipping to 27%. I bet Circle is hoping its ARC blockchain helps increase USDC circulation and share.

Prediction Markets Explode in July as World Cup Fueled $54B in Trades

The 2026 FIFA World Cup pushed prediction markets into one of the fastest-growing corners of finance, driving record trading volume, fees, transactions, and open interest.

Editor’s comment:

Major events like the World Cup keep pushing prediction markets higher and higher. The next big event will probably be U.S. midterm elections.

Bitcoin Nears Chain Split as BIP-110 Rebels Defy Global Hashpower

Bitcoin is closing in on a possible chain split after block 961,632 as BIP-110 backers prepare to enforce rules that barely register across the network’s computing power.

Editor’s comment:

BIP-110 is approaching its activation deadline with almost no miner support, so rather than changing Bitcoin, it is far more likely to create a tiny, economically irrelevant minority fork.