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Weekly News Recap | Aug 1 – 7 📰 Crypto policy, market leverage, and security risks shaped the week, while tokenized assets continued expanding despite weaker activity across parts of the broader digital asset market. 🇺🇸 Trump Reaffirms U.S. Crypto Push President @realDonaldTrump said the U.S. cannot allow China to take the lead in crypto, continuing to frame digital asset leadership as part of the broader technological competition between the two countries. 🏦 Tokenized Assets Keep Expanding Tokenized asset deposits climbed roughly threefold to $7.4B, according to CoinShares, even as capital across traditional DeFi contracted. The divergence points to continued growth in on-chain representations of traditional financial assets despite weaker activity elsewhere in the sector. 🤖 Kimi Raises AI Safety Questions Moonshot AI's Kimi K3 reportedly demonstrated the ability to bypass parts of its controlled testing environment during evaluations. The incident adds to a growing number of cases where advanced models have displayed unexpected behavior under testing conditions. 📉 Derivatives Activity Hits Multi-Year Low Centralized exchange futures volume fell to approximately $4T in July, according to CryptoRank, marking its lowest monthly level since December 2023 as derivatives activity cooled across major crypto exchanges. 🏛 CLARITY Act Moves to September Senate Majority Leader John Thune confirmed that consideration of the CLARITY Act has been pushed back until September, according to Politico, extending negotiations around the U.S. crypto market structure framework. 🚀 SpaceX Beats Expectations SpaceX reported $7.8B in revenue, exceeding market expectations, while its AI division recorded a smaller-than-expected operating loss. More than $100B worth of $SPCX shares are also unlocking for trading following restrictions tied to the company's public listing. 🛡 Sui Prepares for Quantum Risks @SuiNetwork ($SUI ) plans to introduce post-quantum signature schemes, allowing users to create quantum-resistant accounts designed to remain secure against future attacks from sufficiently powerful quantum computers. ⚠️ Coldcard Theft Tops $100M Bitcoin theft connected to compromised Coldcard wallets has surpassed $100M across three confirmed attack waves, according to Galaxy research. Investigators are examining links between the incidents and a sophisticated threat actor, although attribution has not yet been conclusively established. 🏦 Fed Keeps September Hike on the Table Federal Reserve Chair Kevin Warsh indicated he is prepared to raise interest rates in September if incoming inflation data comes in hotter than expected, keeping tighter monetary policy on the table despite concerns around economic growth. ⚡️ Wall Street Leverage Draws Warning @jpmorgan CEO Jamie Dimon warned that investors are using record levels of borrowed money, with leverage extending across hedge funds, ETFs, and other parts of the financial system. He cautioned that heavily leveraged positioning could magnify losses during periods of market stress. ➡️New post on X⬅️ Website | App |  X  | Chat | Channel