Source: AI assistant Instinct seeks to raise $1B at a $10B valuation, up from $2.25B less than a month ago; Sequoia and Benchmark are in talks to lead the round (Valida Pau/The Information)

The U.S. Senate voted to block the Clarity Act, preventing a comprehensive regulatory framework for the crypto industry. The decision removes a key legislative step that could have established market-structure rules for digital assets. The vote is seen as a setback for industry efforts to secure clearer oversight and compliance standards.