The inflation print

August producer prices rose 0.4% month on month and 5.4% year on year. Wholesale energy climbed 4.2% and diesel surged 24.1% as Brent crude sat above $100 following US strikes on Iranian oil tankers. Bitcoin dropped to about $76,650 on the release. US spot Bitcoin ETFs recorded their heaviest outflow of the week at $282.7 million, led by ARKB's $164.3 million.

The new CLARITY text

Senate Republicans released a 630-page revised CLARITY Act ahead of the 15 September cloture vote. Senator Cynthia Lummis said it incorporates over 100 changes requested by Democrats. The headline addition: "decentralised-in-name-only" DeFi protocols controlled by identifiable individuals or groups must register with the CFTC, and DeFi provisions are limited to spot and cash transactions in response to Native American concerns about prediction markets. Ethics provisions barring public officials and their spouses from issuing digital assets are largely unchanged. Politico reported no Democrats currently support the new bill.

Nasdaq bets on Kraken

Nasdaq Ventures invested $100 million in Payward, valuing Kraken's parent at $21 billion. The two will launch the Equity Token (NET) framework by Q2 2027 for tokenised equity trading inside existing rules. Payward will also adopt Nasdaq's market-surveillance technology across its venues.

Bitwise closes the DOGE ETF

Bitwise will liquidate its Dogecoin ETF (BWOW) in October, less than a year after launch, with only about $688,000 in net assets. Trading ends 14 October; final distributions around 22 October.

Ripple's AI treasury agents

Ripple added AI agents to its GSmart corporate treasury platform that flag risks and recommend actions but require human approval to execute.

Why this matters

The bill that could define US crypto rules for a decade now has a text. The inflation data that could push the Fed to hike now has a number. Both land within six days.