Crypto & DeFi ·
Clarity Act stalls in Senate as Coinbase flips support and Lummis defends customer crypto
The Digital Asset Market Clarity Act remains in the spotlight this week as the Senate stalls on a vote, President Trump pushes for passage before recess, Coinbase reverses its opposition after banking compromises, and Senator Lummis touts the bill's customer asset protections. Meanwhile, Bitcoin surged to a two-week high near $65,500 fueled by a broad risk rally and strong ETF inflows, while Uniswap's explosive debut on the Robinhood Chain drove the DEX to record $15 billion in weekly volume. Elsewhere, Ethereum staking, tokenized stocks, and Solana stablecoins all hit all-time highs, Visa launched a stablecoin platform, and Russia prepares to finalize its sweeping crypto bill.
19 sources2 min read
Clarity Act stalls as Coinbase flips support and Lummis defends customer crypto The Digital Asset Market Clarity Act faces an uncertain path in the Senate, with growing Democratic opposition and a push from President Trump for a pre-recess vote. Coinbase reversed its earlier opposition, endorsing the bill after banking industry compromises, while Senator Lummis highlighted its customer asset protections designed to prevent a repeat of the Celsius bankruptcy. 1234
Bitcoin hits $65.5K two-week high as whales accumulate and ETF inflows surge Bitcoin climbed above $65,500, buoyed by a recovery in Asian semiconductor stocks and five consecutive days of over $600 million in spot ETF inflows. On-chain data shows large wallets accumulated 66,700 BTC over the past 60 days, the strongest pace since February, offsetting selling pressure from mid-tier holders. 567
Uniswap dominates DeFi with $15B weekly volume led by Robinhood Chain debut Uniswap processed over $15 billion in trading volume in a single week, far surpassing every other DEX, with the newly launched Robinhood Chain alone contributing $6 billion. Liquidity providers earned $18 million in fees on the chain since its July 1 mainnet launch, fueling governance discussions around activating protocol fees and burning UNI tokens. 89
Russia State Duma set to finalize sweeping crypto regulation on Tuesday Russia's parliament is scheduled to hold the second and third readings of its comprehensive 'On Digital Currency' bill. The legislation creates a licensing regime, caps annual crypto purchases for non-qualified investors, permits cross-border crypto payments, and maintains a domestic payment ban. 1011
Ethereum staking at 34% as tokenized stocks and Solana stablecoins hit new highs Ethereum's staking ratio hit a record 33.9% with $74.5 billion ETH locked, signaling strong institutional confidence. The tokenized stock market cap reached $2.3 billion, Solana stablecoins surpassed $15 billion, and Visa launched a new stablecoin platform for institutional clients. 4121314
Allbridge pauses protocol after suffering $1.65 million flash loan attack The cross-chain bridge protocol Allbridge temporarily halted its operations following a flash loan attack that resulted in the loss of $1.65 million in user funds, underscoring persistent security risks in DeFi. 15
GENIUS Act misses rule deadline as Nigeria and FATF tighten crypto oversight The US stablecoin framework established by the GENIUS Act missed its statutory one-year deadline for finalizing rules, leaving the $300 billion stablecoin industry in regulatory limbo. Separately, Nigerian President Tinubu signed an executive order creating a Virtual Asset Council, and the FATF warned that incomplete global regulations are fueling illicit crypto finance. 161718
Strategy boosts cash reserves to $3.2 billion without selling any bitcoin MicroStrategy sold over $263 million in common stock to boost its cash reserves to $3.225 billion without selling any bitcoin. The firm holds 843,775 BTC, now worth roughly $54.6 billion, as it focuses on rebuilding liquidity for preferred stock dividend payments. 19
Crypto & DeFi
Bitcoin, Ethereum, DeFi, stablecoins, and the regulation that moves the market.