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A revised version of the CLARITY Act is unlikely to secure the necessary support from Democratic lawmakers, Politico reported on July 16. The U.S. Senate was expected to release the updated bill following a meeting with President Donald Trump. According to the political news outlet, the bipartisan consensus required for the bill's passage has not been achieved. Democrats have reportedly indicated they will not vote for the legislation, citing that its ethics provisions—which address President Trump's interests in the cryptocurrency industry—do not meet their demands. Republicans plan to push for a vote before the August recess, but the bill requires at least 60 votes from both parties to pass the full Senate.

A U.S. lawsuit concerning the ownership of long-dormant BTC wallets, including those believed to belong to founder Satoshi Nakamoto, is scheduled for a hearing on Sept. 8, according to Alex Thorn, head of research at Galaxy Digital. The plaintiff, Noah Doe, is claiming ownership of the assets, arguing that the BTC constitutes "abandoned property." The Bitcoin Policy Institute has asked the court to dismiss the case. The institute warned that if the plaintiff's argument is legally recognized, it could set a precedent for revoking the ownership of self-custody users, potentially shaking the entire ecosystem.

Stripe and private equity firm Advent have reportedly offered to acquire PayPal for $53 billion, a move the industry sees as a critical bid to dominate the future of digital payments. CoinDesk reported that the strategic rationale for the proposed acquisition is particularly compelling from a stablecoin and blockchain perspective. The true value for Stripe in acquiring PayPal would lie in its consumer wallet, stablecoin issuance capabilities, and the infrastructure to support next-generation digital payments. While opinions are divided on whether Stripe would gradually replace PayPal's PYUSD stablecoin with OpenUSD, there is a general consensus that owning the underlying infrastructure is the key strategic goal. However, the report also noted that if the deal proceeds, it would likely face significant antitrust scrutiny and raise new issues under the developing U.S. stablecoin regulatory framework.

JPMorgan said in a report that Strategy's (MSTR) growing cash reserves and rising institutional demand for Bitcoin futures are encouraging signs for Bitcoin. According to The Block, JPMorgan analyst Nikolaos Panigirtzoglou explained that while it is difficult to judge the impact on investor sentiment from Strategy's plan to fund dividends by selling Bitcoin, the positive trend in Bitcoin futures this week is a promising development. He noted that this strength persisted despite outflows from spot Bitcoin ETFs. "This positive momentum was clearly visible in both CME's Bitcoin futures and perpetual futures, driven by institutional rather than retail investors," Panigirtzoglou added.

The three major U.S. stock indices closed lower today. - S&P 500: -0.51% - Nasdaq: -1.47% - Dow Jones: -0.20%

Cryptocurrency payment processor BitPay has obtained a Crypto Asset Service Provider (CASP) license from the Dutch Authority for the Financial Markets (AFM). This allows the company to operate its business within EU member states under Europe's Markets in Crypto-Assets (MiCA) regulation.

Anton Bukov, co-founder of the DeFi platform 1inch Network (1INCH), announced via X that he has stepped down from the company's operations as of the end of November 2025, citing disagreements over strategic direction and leadership. He clarified that he is no longer involved in any product architecture or security-related tasks. However, Bukov added that he maintains his position as a co-founder and a shareholder with a 50% stake. Alongside the announcement, Bukov unveiled a new independent DeFi infrastructure project called Second Tier. Bukov co-founded 1inch in May 2019 and subsequently led the architectural design of its core features, including the 1inch Router, Fusion, and cross-chain swap functionality.

Citadel Securities has announced a $400 million investment in Crypto.com. According to CoinDesk, the deal marks Crypto.com's first institutional investment since its founding in 2016 and values the company at $20 billion. Crypto.com stated that the funding will be used to accelerate its expansion into security tokens, derivatives, and other asset classes. The company added that it is developing new products in areas such as prediction markets and tokenized real-world assets (RWA).

CRO has fallen by 4.23% in the past five minutes on the COINNESS market. Currently, CRO is trading at $0.06.

Nadine Chakar, Head of Digital Assets at the U.S. Depository Trust & Clearing Corporation (DTCC), stated that the corporation processes four quadrillion dollars in settlements annually. In an interview, Chakar said that because no single blockchain can handle such a large volume, the DTCC is collaborating with several blockchains, including Canton and Stellar.

BlackRock has withdrawn 1,246 BTC (approximately $80.6 million) and 3,542 ETH (approximately $66.9 million) from Coinbase Prime, according to Onchain Lens. Withdrawals from exchanges are typically interpreted as a move to hold assets.

A prompter operator for the U.S. President is under investigation by federal regulators for allegedly placing bets on the prediction market Kalshi based on the content of President Donald Trump's speeches, according to a CNBC report. The individual reportedly earned over $90,000 from the trades. However, Kalshi stated that it detected suspicious activity in contracts related to words or phrases that would be mentioned in Trump's upcoming speeches and has frozen most of the funds. The case has since been referred to the Commodity Futures Trading Commission (CFTC).

Global payments company MoneyGram has joined the Stellar network as a validator. The move builds on a partnership MoneyGram formed with Stellar in 2021.

E*Trade, Morgan Stanley's online brokerage, has launched a spot cryptocurrency trading service. According to Cointelegraph, eligible individual traders can buy, sell, and hold BTC, ETH, and SOL through crypto infrastructure provider Zero Hash. The ability to transfer crypto assets will be made available later this year. Trades are subject to a 50 bp fee, and both custody and trading services are handled via a separate Zero Hash account that is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).

Digital asset services firm Keyrock has announced its acquisition of the trading and brokerage assets from the institutional crypto division of bankrupt U.S. trading firm BlockFills. According to CoinDesk, the deal includes BlockFills' client list, trading technology, derivatives expertise, and regulatory licenses. Keyrock stated that the transaction will enable it to expand its institutional crypto business. CoinDesk previously reported that Keyrock had agreed to acquire BlockFills for $3.25 million.

David Hoffman, co-founder and host of the crypto podcast platform Bankless, stated on X that Bitcoin's current trend could lead to either a sideways movement or a final capitulation. However, he believes it is more likely that Bitcoin has already bottomed out and is now entering a consolidation phase, adding that the bottom is nearly in.

Injective has submitted an application to the U.S. Securities and Exchange Commission (SEC) to become a Transfer Agent as part of its initiative for regulated real-world assets (RWA). The move aims to bring core market functions on-chain, allowing the token itself to serve as the record of ownership. This would reduce intermediate verification steps and enable security tokens to be registered and transferred in seconds.

Visa has launched a new platform to provide stablecoin services to more than 200 million merchants, Unfolded reported. The platform allows banks and fintech companies to integrate stablecoins such as OUSD, USDC, and USDG into Visa's existing payment and treasury systems. It targets 15,000 institutions and is already processing billions of dollars in stablecoin transactions.

Kraken has launched European-style, cash-settled options for Bitcoin (BTC) and Ethereum (ETH) on its Kraken Pro platform, targeting professional and institutional investors. The option contracts feature a linear structure, are settled in U.S. dollars, and offer weekly, monthly, quarterly, and semi-annual expiries. Initial trading will be conducted via a request-for-quote (RFQ) system. Portfolio margin is applied by default, with spot, futures, and options managed within a single wallet. Users can also use over 30 currencies as collateral. The service is scheduled to be offered to European clients in the second half of 2026, pending regulatory confirmation.

Approximately 85% of concentrated liquidity on major decentralized exchanges such as Uniswap, PancakeSwap, and Aerodrome is not being fully utilized, according to an analysis by on-chain data platform Dune. Citing Dune's data, The Block reported that out of an average weekly liquidity of $1.84 billion, around $542 million was outside its designated price range, generating no fees. This has led to an estimated loss of about $150 million in annual fee revenue for liquidity providers. Furthermore, 36.7% of these out-of-range funds have remained unadjusted for over 90 days.

Crypto market maker Jump Trading has doubled the size of its dedicated prediction markets team to about 20 people this year to capitalize on the sector's growth, Bloomberg reported. Simon Johansen, head of prediction markets at the firm, said that trading in these markets has surged to all-time highs, particularly around major events like the World Cup. He added that the company plans to continue hiring for the team.

Abraxas Capital has continued to accumulate ETH, withdrawing an additional 8,452 ETH (worth approximately $16 million) from Binance and Bybit over the past five hours, according to on-chain analysis account Lookonchain.

The Financial Action Task Force (FATF) has called for the swift enforcement of crypto anti-money laundering (AML) regulations. According to Cointelegraph, the FATF stressed that criminal organizations are increasingly using stablecoins and issuing their own tokens to evade asset freezes. The organization emphasized that countries must more actively implement their crypto AML rules.

The three major U.S. stock indices opened mixed today. - S&P 500: -0.25% - Nasdaq: -0.54% - Dow Jones: +0.29%

Polygon Labs CEO Marc Boiron announced on X that the company has conducted significant layoffs as it finalizes its acquisition of Bitcoin ATM firm Coinme. Boiron described the move as a difficult but necessary decision made today as part of the company's transition from a blockchain foundation to a blockchain-based payments company. He explained that the two types of organizations operate differently, requiring changes in structure and talent. The acquisition is part of an effort for Polygon Labs to achieve profitability by 2027, and the existing Coinme team will be integrated into the company, Boiron added.