[Clarity Act Legislative Process Stalled, Faces Time Pressure and Ethical Controversies This Year] According to CoinDesk, the U.S. crypto market structure bill, the Clarity Act, has failed to be signed within the expected timeframe. With Congress approaching its summer recess, the time pressure to complete the legislation within 2026 is increasing. U.S. President Trump's financial disclosures, which involve significant crypto income, have sparked concerns among Democratic lawmakers regarding the ethical provisions of the bill. Some Democrats are demanding the inclusion of measures in the Clarity Act to restrict senior government officials and members of Congress, as well as their families, from profiting from the crypto industry. The slow legislative progress in the House of Representatives and procedural obstacles are impacting the final vote and signing process of the Clarity Act.

The People's Bank of China launched a 7-day reverse repurchase operation worth 7 billion yuan today, with a bid volume of 7 billion yuan and a median amount of 7 billion yuan, and an operating interest rate of 1.40%.

According to Lookonchain monitoring, a certain address exchanged 1126.44 ETH (worth $2.01 million) for 5776 LIT (worth $14208 million), resulting in a loss of nearly $2 million.

EthLabs founder Barnab é Monnot has released a Week 2 update, focusing on Ethereum interoperability, research on PropaMMs, ENS infrastructure development, and team financing and recruitment. The team is enhancing the research and development of asynchronous interoperability based on zero knowledge proofs, and advancing the Fast Confirmation Rule to reduce the confirmation delay from L1 to L2. PropaMMs have become a recent research focus, and ENS is considered a critical infrastructure. EthLabs has received over 300 applications, processed about 20%, and aims to expand to around 10 people in the short term and around 20 people in the medium term. The financing is nearing completion, with support from BitMNR, Sharpnink, and Ethereum Joseph, and plans to introduce 1-2 more core investors.

According to Onchain Lens monitoring, a newly built wallet has withdrawn 323.72 BTC worth $20.59 million from Binance in the past hour.