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➡️ The GENIUS Act missed its statutory deadline and regulators are writing the rules anyway 🔔 Congress gave agencies one year to write stablecoin rules. They missed it by four months and counting. The OCC expects a final rule by November, Tether still lacks a reciprocity determination, and the effective date keeps sliding. ❗️ Congress wrote a law. Regulators missed the deadline to implement it. Now they are writing the rules anyway, on their own timeline, with their own interpretations. The GENIUS Act was supposed to create certainty for stablecoin issuers by July 2026. Instead it created a gap: a signed statute without implementing regulations, leaving every issuer in the United States operating under a law whose specific requirements have not been defined. 🔗 The delay is not a failure of political will. The agencies agree on the law’s goals. The complexity of writing rules for an asset class that did not exist when most banking statutes were drafted consumed the full year and more. Reserve requirements that sound simple in legislation become complicated when applied to non bank issuers, foreign stablecoins, and tokens that cross multiple regulatory jurisdictions.

🔗 Ripple stock position revealed in SEC fund filing ⚠️ Kinetics Internet Portfolio disclosed 1,875 Class A common shares in Ripple Labs valued at $246,318.75 as of June 30, according to a quarterly regulatory report that became public in August. The New York based mutual fund reported $248.28 million in net assets and $251.70 million in total assets. Its Ripple position therefore represented 0.0992% of net assets, the filing showed. 📊 Those figures differ from initial reports describing Kinetics as a $275 million fund with a Ripple position worth about $150,000. The primary document places the fund’s net assets below $250 million and values the private shares at more than $246,000. Kinetics’ March 31 schedule of investments listed 1,875 Ripple preferred A shares with a fair value of $228,281 and a cost of $300,000. The June filing lists the same share count as “Ripple Labs Inc Common A Shares” and assigns them a higher fair value. 🌐 The unchanged quantity means the latest disclosure cannot, by itself, support claims that Kinetics recently purchased Ripple stock. The change may reflect a reclassification, conversion or revised description, but neither the June filing nor the earlier schedule explains it. Any conclusion about the reason would therefore be speculative.

🔔 Glimpse launches Ethereum, Solana and Gold forecasting markets alongside Bitcoin ℹ️ Glimpse, a Bitcoin-native forecasting platform, has expanded beyond Bitcoin for the first time. Traders can now forecast price ranges for Ethereum, Solana and Gold as well, with accurate calls paid out in Bitcoin. The platform doesn't involve buying or selling the underlying asset. Instead, users pick the range they think price will land in, and if the market settles inside it, they earn a BTC payout. 💡 The structure allows for more trading scenarios and therefore bigger earning potential. Because a forecast can target any range, there's an opportunity to earn whether the market climbs, drops, or moves sideways. Glimpse said the expansion also gives traders a live view of where the broader market expects each asset to move, adding a layer of collective insight alongside the payout mechanism. 🔖 Deposits and withdrawals run on the Lightning Network, keeping transactions fast. Glimpse is licensed by the Bermuda Monetary Authority under the Digital Asset Business Act, positioning the platform as compliance-first as forecasting markets begin expanding beyond their Bitcoin origins. 🔗 Full details: glimpse.trading

➡️ Morgan Stanley ETF buys $15M Bitcoin during dip 🔗 Morgan Stanley’s spot Bitcoin ETF added approximately 232.5 BTC worth $15.05 million as Bitcoin traded below $65,000, lifting the fund’s holdings above 6,500 BTC for the first time. Blockchain intelligence platform Arkham reported that the Morgan Stanley Bitcoin Trust increased its holdings by approximately 232.548 BTC as Bitcoin remained under pressure near $65,000. 📊 The purchase was valued at $15.05 million, implying an average price of around $64,718 per Bitcoin. It raised the fund’s total holdings to 6,563 BTC, worth more than $426 million at current market prices. The transaction marked the first time MSBT’s Bitcoin balance exceeded 6,500 BTC. It also expanded the fund’s holdings during a period when Bitcoin traded below the average purchase price of many recent buyers. ☄️ This left the spot price approximately 3.8% below the cost basis, creating potential selling pressure from recent holders seeking to exit around break-even. Morgan Stanley was not the only major financial institution whose Bitcoin ETF added assets during the latest decline.

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🌐 Fintech giant KSNet joins Solana Foundation to trial Solana Pay in South Korea ➡️ KSNet has partnered with the Solana Foundation to test blockchain payments and AI-driven transaction systems for South Korea’s financial market. KSNet announced on July 30 that it has signed a memorandum of understanding (MOU) with the Solana Foundation to jointly develop a next-generation digital asset payment infrastructure, with the partnership beginning through proof-of-concept projects focused on Solana Pay and AI-powered payment technology. 🔗 The agreement brings together KSNet’s domestic payment network and Solana’s blockchain infrastructure as both companies evaluate digital asset payments that can work alongside South Korea’s existing financial system. The first phase centers on technical verification rather than a commercial rollout. ⚠️ As part of the first proof-of-concept, KSNet said it will test the integration of Solana Pay with the online and offline merchant payment network the company has built over the past 26 years. The demonstration will examine whether Solana Pay’s payment standard can operate within South Korea’s existing payment environment while remaining compatible with local merchant infrastructure.

🌐 Strategy builds $3.75B cash cushion as Bitcoin buying stays paused ➡️ The company said the cash balance now provides 2.1 years of coverage for preferred stock dividends. The calculation reflects Strategy’s own reserve policy and does not guarantee payments under all market conditions. ‼️ Strategy sold 5,429,160 shares of MSTR common stock through its at-the-market programme during the week. Those sales produced $544.5 million in net proceeds. The company sold no STRF, STRC, STRK or STRD preferred shares during the reporting period. 👀 Strategy still had about $22.98 billion available under its MSTR stock offering programmes after the latest sales. That capacity gives the company another route to raise cash, although future issuance depends on market conditions and would increase the number of common shares outstanding. 🔗 Alongside the stock sales, Strategy repurchased 288,930 STRC preferred shares for $25 million. It retained $975 million of authority under its preferred-stock repurchase programme and another $1 billion under its MSTR common-stock repurchase programme.

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👀 South Korea targets Dunamu over Upbit hack as legal gaps emerge ❗️ South Korea’s Financial Supervisory Service has begun a formal sanctions process against Dunamu, the operator of crypto exchange Upbit, over the major wallet breach reported in November 2025. ✔️ The action follows a months-long inspection into whether the exchange met its duties under the country’s Virtual Asset User Protection Act. According to an SBS report citing financial authorities, the FSS recently sent Dunamu an inspection opinion letter. The document gives the company a chance to respond before regulators decide what penalties, if any, should follow. The process then moves through several formal regulatory review stages. 📊 The current Virtual Asset User Protection Act gives regulators powers over custody, unfair trading and customer protection, but it does not set direct penalties specifically for hacking or computer system failures. That leaves uncertainty around how far the FSS can go in this case. ⚠️ The regulator will consider Dunamu’s response before issuing advance notice of any proposed action. Final measures would require further review by the sanctions review committee, the Securities and Futures Commission and the Financial Services Commission. South Korean authorities are also considering stronger rules for hacking and technology failures in the next phase of digital asset legislation.

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