White House Ethics Deal Unlocks Path for CLARITY Act Senate Vote

Crypto markets rallied after the White House agreed to ethics provisions for the CLARITY Act, clearing a major hurdle ahead of the August recess. Bitcoin ETFs extended their inflow streak to six days, while Russia passed its first comprehensive crypto law. On the DeFi side, the Balance stablecoin lost its peg after an oracle exploit, and Ethereum showed strong fundamentals with a record wave of WETH whale transactions and a vanishing validator exit queue.

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White House agrees to ethics deal, reviving CLARITY Act Senate vote The White House circulated agreed-upon ethics language to Senate Republicans, removing a key obstacle and boosting chances for a Senate vote before August recess. Bitcoin surged above $66,000 on the news as the Crypto Fear & Greed Index rose to 'fear' from 'extreme fear'. 1 2 3

Bitcoin ETFs add $203M, extending six-day inflow streak to $930M US spot Bitcoin ETFs recorded $203.1 million in net inflows on Tuesday, bringing the six-session total to about $930 million. BTC traded above $65,800, and cumulative net inflows since launch reached $51.8 billion. 4

Russia passes historic crypto law, caps retail purchases at $3,800 Russia’s State Duma approved a framework legalizing crypto exchanges and trading, with an annual purchase limit of about $3,800 for retail investors. The law takes effect September 1 and allows limited use in foreign trade settlements, targeting bypass of sanctions. 5

Balance stablecoin crashes 99% after oracle exploit drains vaults Balance Coin lost its peg and fell to $0.0014 after an attacker manipulated its bitcoin price oracle to improperly liquidate vaults, netting $912,000. The incident highlights DeFi security risks as AI systems grow more capable. 6

WETH whale transactions hit 5-year high as Ethereum fundamentals strengthen WETH whale transactions exceeded 113,000 in the past week, the highest since May 2021, signaling strong institutional demand. Meanwhile, Ethereum’s validator exit queue has vanished since January, and Franklin Templeton’s digital assets head called agentic AI crypto’s 'killer use case,' reinforcing positive sentiment. 7 8 9