LATEST: Former Signature Bank Chair Scott Shay is launching N3XT, a Wyoming-regulated bank offering instant, fee-free overseas payments using a digital token, Bloomberg reports.

🗞️ Need to catch up on the news? Here's our top 10 from today: 🔸 The SEC's tokenization innovation exemption has been further delayed, possibly tied to ongoing back-and-forth over the Clarity Act's tokenization section, per Eleanor Terrett. 🔹 VanEck says Bitcoin is "approaching a cyclical bottom," with near-bottoming signs that may warrant investors beginning to scale back in. 🔸 Trump-backed World Liberty Financial delays plans to sell a digital token tied to a Maldives resort, as the Iran war disrupts regional travel, per Bloomberg. 🔹 Elon Musk discloses a 48.4% stake in SpaceX, worth over $900 billion, per regulatory filing. 🔸 Ethereum Foundation researcher Justin Drake announces the EF is dropping Poseidon in favor of SHA or BLAKE hashes. 🔹 The SEC abruptly canceled Friday’s vote on proposed crypto exemptions for startup fundraising, citing an unforeseen scheduling issue. 🔸 The White House is expected to host crypto and prediction market executives next Wednesday, one day before the CFTC’s Innovation Advisory Committee meeting. 🔹 The S&P 500 hits 7,800 for the first time in history. 🔸 The CFTC will discuss crypto regulation, AI agents and prediction markets at its inaugural Innovation Advisory Committee meeting on Aug. 20. 🔹 Japan’s government reportedly backs a BOJ rate hike as soon as next month, per Bloomberg.