The Fed vice chair who leads banking oversight, Michelle Bowman, comes across as a crypto evangelist as she echoes industry views on its regulatory needs.
The Senate only has a discussion draft out on market structure legislation so far, but Scott previously said he expects the bill to be done by the end of September.
The token broke through key support levels in volatile trading after hotter-than-expected U.S. inflation data spurred $460 million in crypto liquidations.
Most of the net proceeds are earmarked for the firm's data center expansion, with $85 million set aside for capped call transactions to mitigate share dilution.
The DEX takes over Hyperliquid’s second-largest liquid staking token, part of an ecosystem where staking makes up more than half of $2.26 billion in TVL.