In a post on Friday, Vlad Tenev said securities issuers should control shareholder rights, but not separate products that track their publicly traded shares.
CEO
Flock CEO Asks Americans to ‘Compromise’ on Privacy as Camera Backlash Grows
In brief
- Flock Safety CEO Garrett Langley told Fox News that the country has to prioritize a compromise between privacy and safety.
- He compared calls for an outright ban to banning vehicles, pointing to drunk driving and seatbelt laws as the better model.
- Langley’s remarks followed a Washington Post investigation that found police departments were not auditing how officers used the cameras.
The CEO of Flock Safety has called for “compromise” amid a growing backlash against the company’s AI-powered license plate cameras, which have been vandalized across the country and have drawn bipartisan fire in Congress.
“What we have to prioritize as a country is compromise,” Garrett Langley told Fox News in an interview broadcast Saturday, arguing that Americans who frame the argument as a choice between privacy and safety are “prioritizing the wrong thing.”
Flock has united lawmakers who agree on little else. Senator Bernie Sanders, the Vermont independent, said this month he would introduce legislation to stop “AI mass surveillance,” and House Republicans led by Representative Tim Burchett have introduced a bill barring the federal government from buying Flock cameras. Missouri Republican Josh Hawley has opened a separate Senate inquiry.
An outright ban, Langley argued, would be “like banning vehicles”—a response the country rejected in favor of drunk driving statutes, seatbelts and airbags. He named two things regulators should fix instead: data retention, where Flock recently cut its own recommendation to seven days against a strictest-in-the-nation state limit of 21, and accountability for officers who abuse the system. “The person who wants a bad cop gone first is a good cop, and 99.9% of cops are good,” he said.
STOP FLOCK. STOP AI MASS SURVEILLANCE.
Totalitarianism is when a government or another entity with overwhelming power seeks to know, control and influence everything you do, say and even think. I fear very much that if we don’t act aggressively, that is where we’re heading.…
— Sen. Bernie Sanders (@SenSanders) August 26, 2026
Flock faces scrutiny
A Washington Post investigation published on August 19 found at least 69 police officials accused, charged or convicted of misusing Flock or similar plate readers. In at least 15 of those cases, the person who spotted it first was outside the department: a victim, an activist or a journalist.
Reporters then identified three more officers by analyzing public search logs. One in Indianapolis had run 3,759 searches over ten months on vehicles used by his wife and two acquaintances, roughly twelve a day. All three departments said they did not regularly audit officer searches, and two of the officers have since been disciplined.
Six days before the Post published, Flock announced that it would require all law enforcement customers to switch on Audit Assistance, a tool that flags abnormal search patterns, by the end of the year. The feature had been optional since April, and Flock said about a third of the 7,000 agencies using its system had switched it on.
Langley also faced questions about a WIRED investigation published the same day as the Post‘s, which found Flock had built an AI tool that can identify drivers from their patterns of movement alone, with no plate or name needed to begin a search.
He did not dispute it, calling AI “incredibly powerful, but also a very dangerous tool” and saying deployment in public safety demands third-party attestation. “When you call 911, it has to work. There’s no space for hallucination.”
Flock says its technology supported over a million criminal investigations last year and helped locate more than 10,000 missing people. The figures come from the company’s own Impact Census, a survey of nearly 700 agencies that Flock describes as an early methodology open to critique. The number counts investigations the technology took part in; Flock separately estimates it contributed to about 20% of cleared cases in the jurisdictions where its cameras run.
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SharpLink CEO Joseph Chalom has come out against EIP-8363. This Ethereum proposal would burn validator rewards as the staking ratio rises, warning that the change would weaken decentralized finance and erase ETH’s native yield advantage over Bitcoin (BTC).
Joseph Chalom, a former BlackRock executive, laid out the opposition on Friday. Analysts, however, doubt the draft will pass.
How EIP-8363 Works
Messari analysts explained that the proposal introduces a burn on part of each validator’s rewards tied to its assigned duties. The burn rate would increase as the amount of staked ETH grows, reaching 100% once staked ETH hits 60.25 million, or roughly half of the total supply.
The change would be implemented gradually over 18 months. As of August 7, 2026, the proposal’s pull request remains open. It would preserve the existing consensus-layer rewards and penalties.
“The proposal aims to stop consensus issuance from encouraging stake growth indefinitely while retaining strong incentives to perform validator duties,” the report reads.
SharpLink CEO’s Objections
Chalom opposed EIP-8363 for four main reasons. He said lower staking yields could weaken DeFi by raising on-chain borrowing costs and reducing liquidity.
The executive also argued that staking makes ETH more attractive to institutions by offering native yield alongside potential price gains. He said staking rewards also fund validators, infrastructure, developers, and other parts of Ethereum’s ecosystem.
Finally, Chalom criticized the proposal’s timing. He argued that Ethereum is gaining institutional momentum through stablecoins, tokenized assets, and major financial firms. Cutting yields now, he said, could weaken that momentum.
“EIP-8363 does not redirect that value. It destroys it. In fact, it could lead to institutions selling ETH as they unstake it,” he said.
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— Joseph Chalom (@joechalom) August 7, 2026
Why Analysts Are Skeptical
A Messari report calls EIP-8363 a solution in search of a problem. It notes that Ethereum’s issuance is already low, at about 0.85% per year, so the problem it targets is minor.
“EIP-8363 seeks to address valid concerns regarding stake centralization…However, the impact addresses nominal yield, when real yield from the demand side remains the core problem ETH faces,” the analysts added.
Supporters counter that the burn would curb dilution and resist staking centralization among large institutions. Messari still rates its odds of passing as low.
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MEXC CEO Vugar Usi Marks First 100 Days, Outlines Vision for Responsible Growth and Infinite Opportunities
Mutsamudu, Comoros, July 23, 2026 – MEXC, a pioneer in 0-fee digital asset trading, released a letter from CEO Vugar Usi reflecting on his first 100 days and outlining the company’s priorities for its next phase of growth.
In the letter, Usi recalled a conversation with a MEXC user who had moved from trading only crypto to exploring IPOs, gold and oil. According to Usi, the conversation reflected a broader shift across the industry: retail investors are becoming more curious, more confident and increasingly interested in opportunities beyond crypto.
“Today’s retail investors aren’t simply crypto investors anymore. They’re opportunity investors,” Usi said.
This shift was reflected in the participation surrounding MEXC’s SPACEX (PRE) Launchpad. Across two rounds, more than 74,000 users contributed over $173 million in subscriptions, with the highest pool reaching 30 times oversubscription. Following SpaceX’s public market debut, SPCX futures trading volume on MEXC exceeded 800 million USDT in a single day on June 16.
Usi said these figures demonstrate that users are seeking earlier and more flexible access to emerging opportunities. As their interests expand, exchanges must evolve beyond offering individual trading products and instead build infrastructure that helps users move more efficiently across different markets.
The letter also reaffirmed MEXC’s long-term commitment to zero-fee trading. According to Usi, lower trading costs are not simply a promotional tool, but a way to reduce friction and help users retain more of their capital. MEXC’s zero-fee model has saved users hundreds of millions of dollars in trading fees, with one top futures trader saving approximately $1.1 million.
At the same time, Usi emphasized that broader access must be supported by stronger trust, governance and regulatory foundations. MEXC has continued strengthening transparency and user protection, including through third-party security cooperation with Hacken and ongoing efforts to pursue appropriate licensing opportunities in key markets.
As part of this next phase, MEXC appointed Robert E. MacDonald as Chief Compliance Officer to lead its global regulatory strategy and further strengthen the company’s compliance framework.
“Innovation and compliance are not opposing forces,” Usi said. “The strongest platforms will be those that can expand access while building the trust of users, partners and regulators over the long term.”
Looking ahead, MEXC will continue building around three priorities: lowering the cost of participation, expanding access to emerging opportunities and creating stronger foundations for responsible, sustainable growth.
“Our responsibility is not to predict which opportunity will matter most next,” Usi said. “It is to build a platform that helps users discover and act on those opportunities with greater efficiency and confidence.”
The letter reflects MEXC’s broader Infinite Opportunities vision and its ambition to develop a platform that evolves alongside users while earning trust through transparency, protection and responsible growth.
About MEXC
MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.
MEXC Official Website| X | Telegram |How to Sign Up on MEXC
For media inquiries, please contact MEXC PR team: media@mexc.com
In brief
- Demis Hassabis says AGI is likely only a few years away.
- He wants a new U.S. standards body to evaluate frontier AI models before deployment.
- The proposal calls for pre-release testing that could eventually become mandatory for the most capable systems.
For the second time this year, Demis Hassabis predicted that artificial general intelligence would arrive before the end of the decade. This time, however, he said it won’t simply be another technological breakthrough—it will rival the discovery of electricity or fire.
In a blog post published Tuesday on X, the Google DeepMind CEO said AGI is “probably only a few short years away,” describing it as a technology that could reshape human civilization.
“When we look back on this time in the decades to come, I think we will realise we were standing in the foothills of the singularity–nothing less than the dawning of a new age for humanity.”
According to Hassabis, AGI, the point when computers can understand, learn, and perform a wide range of tasks as well as or better than humans, should not be compared with advances such as the internet or mobile computing because its impact could be even greater.
“It is much more akin to the discovery of electricity or fire,” he wrote. “If you stop to think about it, we’ve essentially found a way to make sand think. It’s miraculous.”
Despite that optimism, Hassabis warned that AI capabilities are advancing faster than society’s ability to understand and manage the risks, pointing to cybersecurity threats that already exist with today’s frontier models, adding that future systems could introduce biological, nuclear, and other national security risks.
As AI becomes more agentic and capable of self-improvement, he argued, stronger technical safeguards will be needed to ensure humans remain in control.
“On the horizon, we will need robust safeguards to maintain control of increasingly agentic, recursively self-improving systems–and tackle unknown issues that will only become clearer over time.”
The news comes as AI leaders have spent much of the past year since the public launch of ChatGPT in 2022 warning that AGI could arrive sooner than expected. In January 2026, Anthropic CEO Dario Amodei said human-level AI could emerge within one to five years and warned governments were underestimating the pace of development. Then, in June, Hassabis predicted AGI would arrive by 2030 and warned society had “not long to prepare.”
To address those concerns, Hassabis proposed creating a U.S. Frontier AI Standards Body modeled after the Financial Industry Regulatory Authority, or FINRA, a private organization that oversees U.S. brokerage firms. The federally supervised public-private partnership would be funded primarily by the AI industry and staffed by independent technical experts and open-source representatives to evaluate frontier AI models.
“The rapid progress we’re seeing in AI requires a new approach to testing frontier AI model capabilities that is dynamic, adaptable, and rigorous,” he wrote. “The US is well positioned, given its economic and technical standing, to take the first step in developing such a framework.”
The proposal follows similar calls made by the prominent members of the industry to establish oversight for advanced AI.
In May 2023, during a hearing before the U.S. Senate Committee on the Judiciary, OpenAI CEO Sam Altman called for a federal agency to license powerful AI systems and require independent safety audits. More recently, last month, President Donald Trump signed an executive order creating a voluntary framework for reviewing advanced AI models before their release. That same month, Anthropic CEO Dario Amodei warned that AI is getting too powerful and safety rules akin to the Federal Aviation Administration (FAA) are needed.
Despite the push to regulate AI development, Hassabis said the world has only a limited window to establish common standards before AGI arrives.
“The future is not yet written, we must use this precious window before AGI arrives to shape this technology for the benefit of all humanity,” he wrote. “What we collectively do now will determine how the next phase of civilisation unfolds. By safely stewarding AGI into the world, we can enter a new golden age of scientific discovery and progress, and usher in a bright future of incredible human flourishing.”
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Circle CEO Jeremy Allaire argued that USDC’s decade-long network of integrations, liquidity and regulatory infrastructure gives it a structural advantage over new stablecoin entrants, while challenging key elements of Open USD’s proposed business model.
In a Wednesday X post, Allaire described stablecoin networks as platform businesses driven by network effects, saying sustained investment in integrations, liquidity, regulatory approvals, banking relationships and reserve management creates competitive advantages that are difficult to replicate.
He also questioned whether permanently offering free, unlimited minting and redemption would remain sustainable at scale and said returning nearly all reserve income to partners risks “starving an infrastructure.”
The comments highlight intensifying competition among stablecoin issuers as new entrants seek to challenge USDC and USDT by offering businesses a greater share of reserve income and influence over governance.
Open Standard announced Open USD (OUSD) on Tuesday, with support from over 140 payments, banking, technology and crypto companies, including Visa, Mastercard, Stripe, Coinbase, BlackRock and Google. The stablecoin is expected to go live later in 2026.
Circle’s stock performance in the last five days. Source: Yahoo Finance
Circle shares closed Tuesday at $62.63, down 17.55% from the previous session, before rising 2.44% to $64.18 in premarket trading as of 11 am UTC on Wednesday, according to Yahoo Finance data.
OUSD could challenge the Circle-Tether duopoly: Bernstein
In a research note, analysts at Bernstein said OUSD could become the “strongest and first new entrant to challenge the duopoly of Circle and Tether,” citing its reach across payments, banking, technology and commerce.
However, Bernstein said governance, operational architecture and the revenue-sharing formula remain open questions, as coordinating more than 140 partners will require substantial work. Bernstein said Circle spends close to $500 million on marketing, infrastructure, technology and compliance, highlighting the amount of resources needed to scale a stablecoin network.
Related: MetaMask launches stablecoin yield account with card spending
Lorenzo Valente, director of research at ARK Invest, took a more skeptical view. In a post on X, Valente said that OUSD still faces the cold-start problem created by USDC and USDT’s entrenched liquidity across the crypto ecosystem. He called the announcement a “giant” letter of intent and said that many participants also support competing stablecoins or operate their own infrastructure.
“The partners are backing rivals: Stripe owns Bridge and has its own stack, Coinbase is wedded to USDC, banks are building their own deposit tokens and the card networks support every token out there,” Valente wrote.
Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express
Coinbase CEO Armstrong Comments on Betting Promotion Concerns in the Base App
Coinbase CEO Brian Armstrong responded to criticism over the company’s promotion of high-risk products to young and financially vulnerable users. He called for responsible product design that does not restrict adult choice.
Zcash founder Zooko publicly criticized Coinbase for promoting sports betting and Bitcoin (BTC) price prediction to inexperienced users. Armstrong acknowledged the tension, noting that companies must balance user freedom against platform responsibility.
The CEO Draws a Line on Aggressive Promotion
The CEO argued on X that companies should not aggressively promote high-risk products to unsophisticated users. A clear distinction exists between making products available and actively pushing them on people least equipped to handle the risks.
Three practical measures followed from that position. Platforms should offer clearer risk disclosures, built-in financial literacy tools, and user preference settings to control which products appear. Together, these options could create a more personalized experience without removing adult access.
Additionally, Zooko’s criticism targeted how Coinbase surfaces Bitcoin price prediction and sports betting to inexperienced users. That kind of aggressive in-app promotion crosses a line, Armstrong said, even if the products themselves remain available.
Interesting — and I appreciate the take.
I think there’s a balance here.
I’m pro-freedom. Consenting adults should be able to do what they want with their own money, as long as they’re not harming others. I don’t want companies patronizing users or dictating what they can do…— Brian Armstrong (@brian_armstrong) June 28, 2026
Criticism Arrives as Coinbase Expands Its Reach
The Coinbase chief recently commented on Coinbase’s Bitcoin market view, noting AI cost reductions alongside broader product expansion. Responsible design, he suggested, needs to accompany that growth rather than trail it. However, those ambitions now face questions about whether user safety has kept pace.
Meanwhile, scrutiny of Coinbase’s 2026 product direction reflects the broader sentiment around the company’s trajectory. Critics have argued that feature expansion has outpaced user protections. That tension sharpened further with Zooko’s public call-out this week.
Beyond the exchange, Coinbase’s Base chain B20 push and Coinbase Luxembourg MiCA hub show a widening footprint. That scope makes it harder to enforce product design standards uniformly across user segments.
The CEO also addressed whether sports prediction markets should exist at all. Private companies should not decide that question on their own. Instead, democratic processes are better suited to establish those limits.
The position separates two types of responsibility. How a platform promotes products differs from whether those products should exist.
The Coinbase CEO supports tighter design standards, including opt-in controls and personalized risk settings. Nevertheless, the case for regulatory rather than corporate limits remains central to that position.
The post Coinbase CEO Armstrong Comments on Betting Promotion Concerns in the Base App appeared first on BeInCrypto.
Despite the growing institutional presence in crypto, retail sentiment is just as important as it was when Wall Street was largely on the sidelines, according to Swan Bitcoin CEO Cory Klippsten.
“It still does. You have to remember it’s not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It’s a bunch of retail accounts mostly that actually buy that,” Klippsten said during an interview with Cointelegraph published to YouTube on Tuesday.
Cory Klippsten spoke to Cointelegraph at BitcoinVegas 2026. Source: Cointelegraph
“You know they’re buying it in a wrapper. But they still have to take real supply and custody it. And it comes out of the supply. So, you know, it’s still it is real demand in ETFs,” Klippsten said, adding:
“There are some paper products and futures and things like that that are weird and take a little while to kind of work through the system. There is something to the idea that there is more supply in certain ways. But at the end of the day, if you want real on-chain Bitcoin, the fact that you can get it is what makes Bitcoin unique.”
US-based spot Bitcoin ETFs have posted a combined $2.90 billion in net outflows since May 15, according to Farside data, while Bitcoin has slid approximately 9.5% over the same period. At the time of publication, Bitcoin is trading at $73,630, according to CoinMarketCap.

Bitcoin is down 2.87% over the past 30 days. (CoinMarketCap)
Meanwhile, sentiment toward the crypto market has been volatile in 2026. The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted an “Extreme Fear” score of 23 on Friday, signaling that investors are taking a cautious approach to the crypto market.
Bitcoin price outlook for 2026: slim chances
Klippsten said his outlook on Bitcoin hitting a new all-time high in 2026 is now looking slim.
Related: Bitcoin falls out of the global top 10 assets as market cap dips below $1.5T
He said he thought there was around a 50% chance we’d see a new all-time high this year when Bitcoin was still trading around $95,000 earlier this year, but given it has declined around 23% since then, his odds have gone down.
“I thought there was probably like a 50% chance that we’d see a new all-time high this year. And I’d say, given that we’re still in the 70s and, you know, and that we went all the way down to 60, I’d probably handicap that down to like 20 or 25% chance that we get a new [high]” he said.
Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves
‘He’s Full of Shit’: JP Morgan’s Jamie Dimon Takes Aim at Coinbase CEO Over Clarity Act
In brief
- JP Morgan CEO Jamie Dimon went on the offensive against Coinbase CEO Brian Armstrong on Friday.
- The banking executive said he and others in the banking industry are firmly against the Clarity Act over the issue of stablecoin yield.
- Dimon claimed Armstrong is “the only one” fighting for it and spending “hundreds of millions” doing so.
JP Morgan CEO Jamie Dimon did not mince words about his stance on the Clarity Act and Coinbase CEO Brian Armstrong in an interview with Fox Business on Friday.
The banking executive said he is not happy with the current version of the Clarity Act, a bill that would regulate most crypto activity in America, and says banks will “not accept it that way.” Dimon further vowed that the banking industry will fight it, and if “we lose, we lose.”
“It will be fought,” said Dimon. “No one is going to bow down to this guy, or that company,” he added, without specifically naming Armstrong or Coinbase.
After Fox Business anchor Maria Baritromo asked specifically about Coinbase, Dimon had more to say: “He’s the only one… he’s spending hundreds of millions of dollars in Washington on this thing. He’s full of shit.”
Jamie Dimon, complaining about the Clarity Act and Coinbase CEO Brian Armstrong this AM: “He’s spending hundreds of millions of dollars in Washington in this thing.”
Maria: “He said he’s representing the whole —”
Dimon: “He’s full of shit.”
Maria: “…well.” pic.twitter.com/Qik9Hnue6U
— Brendan Pedersen (@BrendanPedersen) May 29, 2026
Dimon’s scrutiny of the Clarity Act largely stems from the issue of stablecoin yield—a major sticking point with the banking lobby that has stalled progress on the bill in recent months. At the moment, cryptocurrency platforms are able to offer yield, essentially a form of interest payments, on stablecoin holdings as permitted by the GENIUS Act—signed into law by President Donald Trump in July last year.
The GENIUS Act specifically prohibits stablecoin issuers, such as Tether or Circle, from offering yield to clients, but allows for third-parties, such as Coinbase or other exchanges, to do so instead.
Banks have fought to include language in the Clarity Act to close that loophole while crypto industry giants like Coinbase have sought to ensure platforms can continue offering yield tied to stablecoins.
The debate has helped draw out the Clarity Act’s potential passage by more than four months, with Coinbase at one point withdrawing its support for the bill prior to the inclusion of stablecoin reward compromise language.
Just two months ago, Dimon slammed the demands on stablecoin yields, noting that the “public will pay.” Once more on Friday, he added that “it would eventually blow up on its own.”
“If you want to be a bank, become a bank,” he said in March. “Then you can do whatever you want under bank law.”
The contentious bill has seen plenty of back and forth over the last few months, but passed a key Senate Banking Committee vote earlier this month. It will now move to the Senate floor for a potential final approval.
Despite the back and forth, President Trump has remained adamant getting the bill passed, posting earlier this week that he aims to “codify a future proof digital asset market structure.”
As it stands, predictors on Polymarket give the bill around a 59% chance of being signed into law by the end of 2026.
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