Musk plans to restart America PAC to support Republican midterm election voter mobilization

The stablecoin protocol Ebisu has announced that it will gradually shut down, and the front-end will be discontinued on October 30th. Users are required to close their vaults, withdraw Stability Pool deposits, and ebUSD DEX liquidity before October 30th. ebUSD minting has been suspended. The Ebisu team was unable to expand the liquidity of ebUSD to support borrowing activities, and attempted solutions such as instant clearing, multi chain collateral, and structured vaults to address the liquidity and demand bottlenecks of the CDP protocol. Ebisu confirms that the EBISU token will not be launched and will not be airdropped to xEBISU or BOLD holders. xEBISU has no monetary value and is not convertible.

According to Vanda Research data, retail investors recorded the largest daily net selling of individual stocks since March 2020 on Tuesday. Retail investors simultaneously net bought Roundhill Memory ETF. Viraj Patel, Global Macro Strategist at Vanda Research, stated that the record breaking net selling was concentrated in a few stocks, rather than a large-scale outflow of funds from the market as a whole.

[U.S. Federal Court Rejects CFTC Injunction Request, Wisconsin's Authority Over Prediction Markets Upheld] On July 28, the U.S. District Court for the Eastern District of Wisconsin ruled to reject the CFTC's preliminary injunction request to prohibit Wisconsin from enforcing regulations on sports-related event contracts offered by platforms such as Kalshi, Coinbase, Robinhood, Polymarket, and ((Crypto.com)). The court found that the CFTC failed to demonstrate a likelihood of success on the merits of its claims and noted that gambling regulation falls under the traditional police powers of the states, with no clear federal law indicating an intent to preempt state law. The court also denied intervention requests from Kalshi and ((Crypto.com)) Derivatives North America (CDNA), as well as the American Gaming Association (AGA)'s motion to intervene as a defendant. The substantive litigation between the CFTC and Wisconsin will continue to proceed.

According to CoinDesk, US Senators Thom Tillis and Ruben Gallego have reached a preliminary agreement on the ethics clause of the Clarity Act, which aims to restrict direct connections between senior government officials and cryptocurrency projects, with a focus on US President Trump's cryptocurrency business. This plan needs to receive sufficient support from the White House and the Democratic Party in order to proceed.

Lilian Weng, co-founder of Thinking Machines Lab, resigned due to health reasons and returned to OpenAI to lead the recursive self-improvement research team.