CLARITY Act misses cloture as bipartisan talks drag on

The CLARITY Act missed a key procedural opening after Senate Majority Leader John Thune filed cloture on several other measures while bipartisan negotiations over the crypto bill continued.  CLARITY Act left out of Senate cloture filings  On Wednesday, Senate Majority Leader John Thune filed cloture on the motion to proceed to S. 4668, the Protect College Sports Act of 2026, according to the U.S. Senate Daily Press. He also filed cloture on H.R. 6500, a substitute amendment to the continuing-resolution vehicle and Todd Blanches nomination to be attorney general.  However, the majority leader did not make a corresponding filing for the CLARITY Act, leaving the crypto market structure bill without the procedural countdown required for an initial cloture vote.  Cloture on a motion to proceed would allow the Senate to limit debate and begin considering the legislation. The motion requires support from 60 senators, meaning Republicans cannot advance the bill without Democratic votes.  Crypto journalist Eleanor Terrett said Thunes decision to proceed with the college sports legislation indicated that negotiators had not reached a bipartisan agreement.  “Thune has filed cloture on the motion to proceed to the college sports bill,” Terrett wrote, adding that it “signals theres still no bipartisan agreement on the Clarity Act.”  The omission

08-06انڈسٹری

Feds Say an NFT Founder Raised $10 Million Only to Blow It All on Gambling, Trading, and a DJ Hobby

In briefDOJ charged Few and Far founder Taj Tarsha with securities fraud and wire fraud.Prosecutors allege he raised more than $10 million through token sales before misusing investor funds.If convicted, he faces up to 20 years in prison on each count.  Federal prosecutors have charged the founder of NFT marketplace Few and Far with securities fraud and wire fraud, alleging he raised more than $10 million from investors to build a Web3 platform before spending much of the money on online gambling, speculative cryptocurrency trades, and personal expenses—like funding a DJ hobby.  On Wednesday, the U.S. Attorneys Office for the Southern District of New York said that Taj Tarsha, 34, was indicted for allegedly defrauding investors in Few and Far, a startup that sought to build a decentralized marketplace for non-fungible tokens better known as NFTs.  “Taj Tarsha is alleged to have concealed fraudulent conduct behind his crypto startup, using investor funds for personal benefit,” FBI Assistant Director in Charge James C. Barnacle, Jr. said in a statement. “Protecting the integrity of our financial markets is a priority, and the FBI remains steadfast in its commitment to conducting thorough and fact-driven investigations into potential financial offenses.”  According to prosecutors, Tarsha allegedly began raising money

08-06انڈسٹری

Bitcoin Holds $64K as Polymarket Cuts CLARITY Odds to 15%

Bitcoin held firmly above $64,000 despite intraday swings between $63,900 and $64,706. The modest price gains triggered heavy losses for short sellers, driving $148 million in short liquidations out of $216 million across the total crypto market.  Key TakeawaysBitcoin anchored above $64,000 on Wednesday, capping a 1.1% gain despite volatile intra-day trading.Coinglass data showed market liquidations reached $216 million, with short bets taking a $148 million hit.Polymarket lowered the CLARITY Acts 2026 passage odds to 15% as Senate delays push talks to September.  Intra-Day Price Volatility and Resistance  On Wednesday, bitcoin stubbornly anchored itself above the $64,000 baseline, though broader bullish momentum remained muted as political friction intensified around the impending CLARITY Act vote. Despite a sharp spike in 24-hour volatility, market data indicate the top cryptocurrency still managed to carve out a slight upward trajectory compared to its Aug. 4 consolidation range of $63,000 to $63,600.  Market data show that although it dipped below $64,000 several times during the session, it quickly reclaimed the mark, signaling strong buying pressure. Still, a familiar ceiling emerged: Each rally stalled once bitcoin breached $64,400.  That pattern held until 8:30 a.m. EST, when the price fell from $64,466 to a daily low of $63,900 in just over an

08-06انڈسٹری

Fed rate hike odds hit 46% as Kashkari warns on inflation

Minneapolis Fed President Neel Kashkari backed gradual interest rate increases as persistent inflation and uncertainty around the Strait of Hormuz complicate the outlook for US monetary policy.  Kashkari calls for gradual Fed rate hikes  Kashkari said during a CNBC interview on Wednesday that the central bank should begin moving interest rates higher as inflation remains above its target.  “I think now is the time to start slowly moving rates up,” Kashkari said.  The Minneapolis Fed president argued that current monetary policy does not appear particularly restrictive. He pointed to strong corporate earnings and continued economic resilience as signs that higher borrowing costs have not placed substantial pressure on demand.  Kashkari clarified that he was not advocating a series of aggressive increases. Instead, he supported incremental moves intended to reduce inflation without causing an unnecessary slowdown in the US economy.  His remarks add to a growing debate inside the Fed over whether rates are high enough to contain renewed price pressures. Kansas City Fed President Jeff Schmid also called for tighter monetary policy on Wednesday, although he did not specify when or by how much rates should rise.  Feds July decision exposed a widening policy split  The Federal Open Market Committee maintained the federal funds rate at 3.50%–3.75% during

08-06انڈسٹری

Gold hits 6-week highs on China demand as Bitcoin ignores fresh S&P 500 record

Bitcoin stayed wedged at $64,000 on Wednesdays Wall Street open as gold hit six-week highs.  Key points:Gold analysis eyes Chinese demand as the precious metal hits its highest levels in six weeks.Bitcoin (BTC) sees a second day of lackluster performance against US stocks as the S&P 500 index builds on all-time highs.  China in spotlight as gold rebounds past $4,200  Data from TradingView showed continued BTC price inertia contrasting with upside for both precious metals and US equities.  BTC/USD one-hour chart. Source: Cointelegraph/TradingView  Gold gained 2.8% on the day to hit $4,213 per ounce, its highest levels since June 22. Chinese appetite spurred the upside, with Bloomberg reporting 14 consecutive days of inflows for domestic gold-backed exchange-traded funds (ETFs).  China gold ETF inflows data. Source: Bloomberg  These products saw their worst month of outflows on record in June per data from the World Gold Council. The year-to-date inflows to Chinese ETFs fell to 40 billion yuan ($5.6 billion). However, this is still the second-best H1 performance on record.  “Demand for gold ETFs stayed robust amid growing geopolitical and economic uncertainties, while the PBoC‘s non-stop gold purchases continued to provide a supportive backdrop for sentiment. Institutional investor participation in Chinese gold ETFs has also risen, supporting demand for these

08-06انڈسٹری

BNB price targets $610 as open interest rises

BNB price traded near $600 on Aug. 5 after breaking out of its July range, while rising derivatives activity and nearby liquidation clusters pointed to a possible test of $610.  BNB price reclaims $592 after July breakout  According to data from crypto.news, BNB (BNB) price rose to approximately $600 on Wednesday, extending its recovery from a late-July range around $560 to $575. The daily chart shows that the token closed near $599.64 after reaching an intraday high of $605.50.  BNB price daily chart — Aug. 5 | Source: crypto.news  The move carried BNB above its 20-day and 50-day simple moving averages at $574.43 and $576.85, respectively. Reclaiming both averages supports the short-term bullish structure, although the asset has not yet reversed its wider downtrend.  The 100-day SMA at $605.88 now represents the first major test. This level sits close to Wednesdays intraday high and could determine whether BNB extends its rally toward $610 or enters another period of consolidation.  Longer-term resistance remains at the 200-day SMA near $636.13. BNB would need to reclaim that level before the daily chart confirms a broader bullish trend reversal.  Chaikin Money Flow rose to 0.14 on the daily chart. A reading above zero indicates that buying pressure has exceeded selling pressure

08-06انڈسٹری

Analysts see bitcoin bottom forming through boredom as price clings to $64K amid spot ETF inflows

Quick TakeDespite over $200 million in spot bitcoin ETF inflows on Tuesday, the foremost cryptocurrency sat near flat around $64,000.Analysts across firms see bottom signals assembling through boredom rather than capitulation.  Bitcoin held near $64,000 on Tuesday even as spot bitcoin exchange-traded funds absorbed $211.5 million in net inflows and Wall Street broke to fresh records on Aug. 4. The divergence is one that analysts read as a market compressed into stillness rather than one bracing for a fall.  Spot ether ETFs also took in $53.8 million the same day. Indeed, the Ss central puzzle. Global markets broke to records while bitcoin barely moved, more than four points behind the Ss seven-day active supply hit a 2026 high with about 890,000 BTC moved as the exploit widened, a spike Head of Research Vetle Lunde said tends to cluster near local tops and bottoms.  Bitcoin traded flat amid Wall Street surge | Image: Glassnode.A bottom through boredom  Analysts suggest the bottom signals are assembling, but through exhaustion rather than a flush.  Glassnodes Seller Exhaustion Constant sits at this cycles low, inside the zone where every past bottom has formed, yet still roughly a third above the floor every prior bear eventually reached. This gauge is in

08-06انڈسٹری

TeraWulfs HPC leasing revenue jumps 52%, widening lead over bitcoin mining

Quick TakeTeraWulf entered the third quarter with 102 MW of revenue-generating capacity online at Lake Mariner.The company said New Yorks data center executive order will not disrupt its Lake Mariner or Lake Hawkeye timelines.  TeraWulfs high-performance computing lease revenue jumped 52% quarter-over-quarter to $31.9 million as the segment extended its lead over the companys legacy bitcoin mining business.  HPC leasing accounted for roughly 71% of TeraWulfs $44.8 million in Q2 revenue, up from 62% in the prior quarter. Digital asset revenue was relatively flat quarter-over-quarter at $12.8 million but down sharply compared to $47.6 million a year earlier.  “The second quarter reflects a financial profile increasingly driven by long-term, contracted HPC revenue,” CFO Patrick Fleury said during the companys earnings call Wednesday.  TeraWulf (WULF) reported a net loss attributable to shareholders of nearly $940 million, widening from $427.6 million in the first quarter. The loss was mostly driven by a $755.7 million adjustment tied to the increased value of warrants issued to Google as TeraWulfs stock price rose.  TeraWulf shares (WULF) were down less than 1% following the earnings release, though the stock is up roughly 47% year-to-date.  TeraWulf (WULF) stock price chart. Source: The Block/TradingView  TeraWulf operated 81 MW of revenue-generating IT capacity at its Lake

08-06انڈسٹری

Crypto-backed Michigan House incumbent loses primary despite $2M PAC support

Michigan State Representative Donavan McKinney won a Democratic primary against incumbent House Representative Shri Thanedar in a race that raised accusations of payback by the cryptocurrency industry.  McKinney won the primary for Michigan‘s 13th Congressional District with 51.9% of the vote against Thanedar’s 48.1% as of Wednesday, the New York Times reported. The primary saw a cryptocurrency-backed political action committee (PAC) spending more than $2 million on media in an attempt to re-elect Thanedar, who has voted in favor of many bills favoring the industry while in Congress.  Election results for Democratic primary in Michigans 13th congressional district. Source: The New York Times  McKinney, considered by many to be a progressive challenger to two-term Thanedar, has already received support from the Democratic National Committee and the Democratic Socialists of America on his primary victory. During the campaign, he accused the crypto industry of “paying my opponent back for helping Trump make over $1 billion since taking office,” likely referring to Thanedars voting record.  Protect Progress, the super PAC responsible for funding the ads supporting Thanedar and opposing McKinney, is affiliated with Fairshake, a group backed primarily by crypto companies Coinbase and Ripple. After spending more than $170 million in the 2024 US election cycle

08-06انڈسٹری

Bitcoin gains focus as Pentagon rewrites nuclear strategy

Bitcoin has entered the national-security debate again as the Pentagon drafts a nuclear strategy centered on potential regional conflicts with China or Russia.  SummaryThe Pentagon is reportedly considering shorter-range tactical nuclear weaponsfor regional conflicts.US military officials previously confirmed operational Bitcoin testingand classified crypto-related work.Washingtons Strategic Bitcoin Reserve holds forfeited BTC under a no-sale policy.Bitcoin traded near $64,500, with no clear price reaction to the Pentagon report.  Pentagon drafts new nuclear strategy  Defense Department policy chief Elbridge Colby is drafting a classified nuclear framework that could expand the role of shorter-range tactical weapons, NBC News reported on Aug. 5, citing five people familiar with the plans.  The emerging strategy would prepare Washington for a possible regional war involving China or Russia. It reportedly seeks to give the US president more limited nuclear options during a crisis instead of relying mainly on long-range strategic weapons.  The approach would mark a departure from decades of US doctrine built around the threat of a large retaliatory strike. Tactical weapons have shorter ranges and are designed for more limited military targets, although any nuclear use would still carry a severe risk of escalation.  The framework has not been adopted as official US policy. Its reported objectives include preventing a conventional conflict

08-06انڈسٹری
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