In brief Galaxy Digital has cut its odds of the CLARITY Act passing in 2026 to 50%, down from 60% earlier this month and 75% in May. The crypto market structure bill is running out of Senate floor time before the August recess, with a contested housing bill and an elections measure crowding the calendar. One analyst argued that the lowering of the odds is “a matter of time delay rather than the rejection of the proposal’s actual content.” Galaxy Digital has cut its odds of the CLARITY Act becoming law in 2026 to a coin toss, warning that the…

Building secure obfuscation has proved brutally hard. An ideal version was proven impossible in 2001, which sent researchers after the weaker iO target instead, a roughly two-decade effort littered with broken attempts. The recent good news is that iO can now be built under reasonable security assumptions. However, the downside is that the runtimes are, in Buterin’s word, “galactic,” efficient on paper but absurdly slow in practice.Buterin compared the moment to where SNARKs, the zero-knowledge proofs now central to Ethereum’s scaling, sat around 2010, before years of optimization turned them from a curiosity into working infrastructure. The suggestion is that…

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