#964 - Industry Rallies Behind CLARITY Act, Circle Launches cirBTC, LlamaRisk Aave Risk Framework
Over 60 crypto founders urge the Senate to preserve CLARITY Act developer protections, Circle debuts cirBTC, and LlamaRisk proposes an Aave risk framework.
CLARITY Act developer protections.
Circle launches cirBTC on Ethereum.
Octant introduces a ZK Vote Coprocessor.
LlamaRisk proposes an Aave risk framework.
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More than 60 crypto founders and CEOs signed a joint letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging passage of the CLARITY Act with its developer protections intact. The letter specifically advocates for Section 604, the Blockchain Regulatory Certainty Act, arguing that without the BRCA, market structure legislation will fail to give developers the legal certainty they need to build and maintain open-source software. Signatories include the heads of Coinbase, Uniswap, Aave, Hyperliquid, Morpho, a16z crypto, Paradigm, and Dragonfly.
Circle launched cirBTC, a wrapped Bitcoin token on Ethereum backed 1:1 by native BTC held at a regulated Circle entity and segregated from corporate assets, with reserves verifiable on-chain through Chainlink Proof of Reserve. The token targets institutional users seeking BTC collateral across lending markets, OTC workflows, market making, and treasury operations. cirBTC competes directly with Coinbase's cbBTC.
Octant introduced its ZK Vote Coprocessor, a system that runs trustless quadratic funding tallying onchain without a privileged admin, built on Succinct's SP1 zkVM. Voters sign gasless EIP-712 ballots and submit them to a sequencer. When a round closes, all ballots are posted to Ethereum as a blob, and the zkVM verifies signatures, removes duplicate votes, enforces per-voter budgets, and computes the quadratic funding allocation, with the resulting proof checked by a TallyVerifier contract. Once verified, results are recorded permanently and distributions become claimable without further action from Octant.
LlamaRisk, an Aave DAO service provider, proposed a risk framework to govern every asset listed across Aave V3, V4, and Aave Horizon. The framework covers onboarding, monitoring, bridging, and chain-level risk across four layers: Asset Risk for onboarding requirements, audit standards, and quarterly due diligence; Bridging Risk for verifier minimums, rate limits, and 24/7 incident response; Automated Monitoring featuring Chainlink CRE-powered freeze guardians and cap oracles; and Chain Risk for deployment gating based on consensus, decentralization, and maturity.
WalletConnect Pay supports ETH
Morpho raises $175m
Aave available to institutional users
frxUSD ReserveLink on Aave
Neocypherpunk Summit on 14 June
Covered Vaults live on Superform
Modern AML framework
Ethena partners with Centrifuge
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
LlamaRisk Proposes Aave Risk Framework
LlamaRisk proposed a four-layer framework governing asset, bridging, monitoring, and chain risk across Aave V3, V4, and Horizon.
LlamaRisk, an Aave DAO service provider, has proposed a risk framework to govern every asset listed across Aave V3, V4, and Aave Horizon. The framework covers onboarding, monitoring, bridging, and chain-level risk across four layers. It also introduces explicit veto authority that hard-blocks listings when conditions aren't met.
The four layers are Asset Risk for onboarding requirements, audit standards, and quarterly due diligence. Bridging Risk for verifier minimums, rate limits, and 24/7 incident response. Automated Monitoring featuring Chainlink CRE-powered freeze guardians and cap oracles. And Chain Risk for deployment gating based on consensus, decentralization, and maturity.
The trusted Ethereum news briefing since 2022, reaching 6,000+ audio subscribers, 4,000+ newsletter subscribers, and 26k+ combined social followers.
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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Industry Unites Behind CLARITY Act Developer Protections
Over 60 crypto founders signed a joint letter urging the Senate to preserve the CLARITY Act's Section 604 developer protections.
More than 60 crypto founders and CEOs signed a joint letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging passage of the CLARITY Act with its current developer protections intact. The letter specifically advocates for Section 604, the Blockchain Regulatory Certainty Act. The letter argues that without the BRCA in its current form, market structure legislation will fail to provide the legal certainty developers need to build and maintain open-source software.
They called on the Senate to preserve the BRCA alongside Section 601 of the Clarity Act and Section 207 of the Senate Agriculture Committee's Digital Commodity Intermediaries Act, which together draw a line between intermediated finance and decentralized protocols.
Signatories include the heads of Coinbase, Uniswap, Aave, Hyperliquid, Morpho, a16z crypto, Paradigm, and Dragonfly, among others. The push came the same day the Blockchain Association held its annual Member Fly-In in Washington, with members meeting across 52 Senate offices to advocate for the same legislation.
The trusted Ethereum news briefing since 2022, reaching 6,000+ audio subscribers, 4,000+ newsletter subscribers, and 26k+ combined social followers.
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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created