Author: John Smith

Grayscale Head of Research Zach Pandl said on Aug. 8 that the CLARITY Act now appears unlikely to become law this year, pointing to a crowded Senate calendar and election year politics.  Summary Senate leaders filed cloture on CLARITY, setting a September 15 procedural test after August recess. Grayscale says passage this year appears unlikely, citing the Senate calendar and election year politics. The Senate Banking Committee advanced the bill 15 to 9 in a bipartisan May vote. SEC rulemaking can continue without CLARITY, including planned changes for crypto trading and custody rules. Grayscale warns missing federal legislation may push…

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. XRP faces renewed pressure after its first ETF outflow, while EX DeFi gains attention from investors seeking cloud mining and yield opportunities. Summary XRP ETF records its first monthly outflow as weakening price action raises concerns over short-term market sentiment. EX DeFi gains attention from XRP holders seeking cloud mining and yield strategies amid ongoing market volatility. Despite recent ETF outflows and price weakness, long-term optimism for XRP remains supported by institutional adoption. XRP price has recently remained weak,…

Circle has launched native USDC and its Cross-Chain Transfer Protocol on OKX’s X Layer, giving developers and businesses direct access to the regulated stablecoin across payments, DeFi and automated applications. Summary Native USDC is now available on X Layer, replacing the need to rely solely on bridged tokens. Circle’s CCTP enables cross-chain USDC transfers without wrapped assets or conventional liquidity pools. The launch expands native USDC support to 36 networks, while CCTP now connects 26 blockchains. Qualified businesses can issue and redeem USDC through Circle Mint on X Layer. Circle launches native USDC on X Layer Circle announced on Aug.…

Coinbase CEO Brian Armstrong said crypto adoption will continue through stablecoins, tokenization and expanding digital asset markets despite the Senate delaying the CLARITY Act. Summary Armstrong said crypto momentum continues regardless of the congressional timetable. Senate leaders postponed the CLARITY Act vote until September after negotiations failed to produce an agreement. Stablecoin rewards, political ethics and illicit finance safeguards remain central points of dispute. Coinbase shares closed Friday at $153.60, gaining about 5.7% during the session. Armstrong points to adoption beyond Congress Armstrong described the Senate’s failure to advance the CLARITY Act before its August recess as disappointing but argued…

A wallet linked to the Aztec Private Rollup Bridge exploit deposited another 300 ETH into Tornado Cash, bringing its total transfers to the mixer to 500 ETH. Summary The exploiter sent another 300 ETH, worth about $572,000, to Tornado Cash. Total deposits linked to the wallet have now reached 500 ETH, worth about $953,000 at the reported price. The Private Rollup Bridge lost approximately $2.165 million in a June exploit. Aztec said the affected legacy product was separate from its current network and AZTEC token. Aztec exploiter deposits 300 ETH into Tornado Cash Blockchain security firm PeckShield reported on Aug.…

The U.S. Senate has initiated the process for considering the CLARITY Act, setting up an initial procedural vote after lawmakers return from their August recess. Summary Senate leadership filed a motion to begin considering the CLARITY Act late Friday. The procedural step positions the bill for an initial vote in September. Negotiations remain divided over ethics, enforcement and stablecoin rewards. The legislation needs 60 Senate votes to overcome the chamber’s cloture threshold. CLARITY Act moves toward September vote Senate Majority Leader John Thune submitted the motion after a late-night voting session, according to reports released Saturday. The timing prevented the…

Morgan Stanley’s spot Bitcoin ETF added approximately 232.5 BTC worth $15.05 million as Bitcoin traded below $65,000, lifting the fund’s holdings above 6,500 BTC for the first time. Summary MSBT added 232.5 BTC, valued at approximately $15.05 million, according to Arkham. The fund’s holdings increased to 6,563 BTC worth more than $426 million. BlackRock, Fidelity and Franklin Templeton also accumulated Bitcoin during the recent market weakness. MSBT launched in April with a 0.14% annual management fee. Morgan Stanley’s Bitcoin ETF adds 232 BTC Blockchain intelligence platform Arkham reported that the Morgan Stanley Bitcoin Trust increased its holdings by approximately 232.548…

European Union officials are preparing to revise the bloc’s MiCA crypto framework in 2027 as foreign stablecoin restrictions and faster U.S. rulemaking expose gaps in the existing regime. Summary EU diplomats reportedly expect MiCA revisions in 2027, despite an ongoing European Commission consultation. Changes could address rules that have left non-EU stablecoins such as USDT without authorization. The review may expand MiCA to cover tokenized deposits, payments and other real-world assets. U.S. adoption of the GENIUS Act has added pressure on Europe to reassess its approach. EU officials reportedly see MiCA revision as unavoidable European diplomats said policymakers are expected…

XRP Ledger validators will vote on a privacy amendment designed for institutional transfers as the network hosts more than $530 million in distributed tokenized assets outside RLUSD. Summary Confidential Transfers would encrypt MPT balances and payment amounts while keeping accounts and token types visible. XRPL hosts about $1.38 billion in distributed assets, including $845.7 million of RLUSD. The first version supports direct MPT payments only, excluding exchange trades, escrow and checks. Activation requires 80% validator support for two consecutive weeks. XRP Ledger privacy amendment enters validator process XRP Ledger version 3.3.0, released on Aug. 6, includes six proposed amendments focused…

BitMEX reportedly spent two years seeking a buyer before deciding to close the crypto derivatives exchange, as founder control, declining activity and legal baggage deterred potential acquirers. Summary BitMEX discussed a sale with multiple prospective buyers, including competing exchanges and Exodus. Founder control, shrinking revenue and reputation concerns reportedly complicated the negotiations. The exchange was reportedly seeking a valuation of about $1 billion during the process. BitMEX will restrict trading on Aug. 26 and close the exchange on Sept. 23. BitMEX held sale talks for two years BitMEX explored a sale with several potential acquirers over approximately two years but…