End of an era: BitMEX to shut down permanently
After finding no success in looking for a buyer of the company since early 2025, the board of HDR Global Trading Limited, the exchange's owner, reached the decision to permanently shut down the exchange on Sept. 23. The exchange, which was founded by Arthur Hayes in 2014, and invented the 100x leverage perpetual swap, could just never really outlive their Biden-era legal troubles. BitMEX pleaded guilty in 2024 to violating the Bank Secrecy Act over an inadequate anti-money laundering program, and was hit with an additional $100 million fine in January 2025. Trump pardoned the co-founders in March 2025. Read more →
Crypto firms are starting to take quantum seriously
Strategy, BlackRock, Coinbase and six other firms launched the Bitcoin Security Consortium, pledging $15 million over three years for developer support and security research. The first focus: Bitcoin’s long-term defenses, including post-quantum cryptography. Galaxy earlier this week also launched its own Bitcoin Quantum Readiness Initiative, committing up to $5 million in developer grants for post-quantum cryptographic tools.
Clarity Act gets new text
After months of separate committee drafts and negotiation-by-headline, Senate Republicans finally released a single 616-page Clarity Act merging the Banking and Agriculture versions – the clearest sign yet that leadership is preparing for the bill’s final push. Seven Democrats open to supporting Clarity said the current text still falls short, but also pledged to keep negotiating. Ethics remains the biggest dispute, with other fights continuing around consumer protection, illicit finance, developer liability and stablecoin rewards. Either way, one bill is finally on the table. Now comes the scramble to turn it into 60 votes before the August recess. Read more →
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