Macro Signals for Crypto: Bitcoin’s 90-day correlation with gold jumped to +0.50, while its link to the Nasdaq 100 slid to about 0.30, as Treasury debt buybacks reportedly doubled to at least $4B—another sign BTC is trading more like a scarce asset than a tech proxy. Regulation Clock: The CLARITY Act hit a major snag after House GOP leadership canceled key September voting weeks, leaving the Senate with a tight path and making passage before midterms unlikely. Privacy Spotlight: Zcash surged past $1,000 for the first time in nearly a decade, boosted by new spot ETF demand and short-seller cover; Grayscale also floated a hypothetical $8,100 target using a Bitcoin-style model. Ripple Push: Brad Garlinghouse argued central banks are “too slow” after a Dutch gold move, while pointing to XRP Ledger settlement tests in seconds and urging CLARITY progress as XRP runs. DeFi Governance Tension: A Compound DAO controversy showed how token-holder voting can be exploited when protocols lack emergency brakes, leading to a settlement and added veto role. Solana RWA Momentum: Solana’s RWA ecosystem topped $18.5B, led by stablecoins, with tokenized equities volume heavily concentrated on Solana. Market Watch: CryptoQuant flagged profit-taking after holders cashed out ~110,000 BTC, warning that big realizations often precede sharper pullbacks. New Trading Venue: BulkTrade launched on Solana as an invite-gated perps exchange after raising $25.9M in pre-deposits.