Daily Newsletter

Polymarket odds for the CLARITY Act rose to 53% as the National Organization of Black Law Enforcement Executives formally endorsed the bill and the county sheriffs' organization shifted from opposition to a neutral stance. Final legislative compromise text was reported imminent ahead of a July 4 target that was ultimately missed, with a July floor vote timeline still confirmed. Senator Hagerty released a new Senate roadmap and the Multicoin Capital Staking Alliance had previously removed its opposition.

They say the "bottom is in when the biggest Bull sells".

Support for Bitcoin Improvement Proposal 110 fell below 10% and was effectively cancelled, with exchanges given an August deadline before miner lock-in signaling would have activated. The governance outcome was characterized by some observers, including the Nakamoto Chairman, as validating Bitcoin's decentralized decision-making structure.

BlackRock transferred approximately $1.22 billion in Bitcoin to Coinbase across four days, representing a large institutional custody movement by the world's largest asset manager. The transfer occurred against a backdrop of broader ETF outflow pressure and elevated BTC exchange deposit activity.

US spot Bitcoin ETFs recorded a single-day net inflow of approximately $221–223 million, ending a 10-day outflow streak; Fidelity led the reversal following a weaker-than-expected US jobs report. Separately, data confirmed that spot Bitcoin ETFs also posted net outflows for an eighth consecutive week, the longest such streak on record, with aggregate outflows over the two-week period reaching approximately $2 billion and the cumulative drawdown since October 2025 totaling $11 billion.

Germany's savings banks and cooperative banks launched direct cryptocurrency trading services for their combined customer base of millions. German local banks separately enabled customers to buy and sell cryptocurrencies directly through their banking applications.

Revolut confirmed it will delist USDT for select European accounts by August 31, 2026, citing MiCA regulatory requirements and Tether's decision not to apply for an EU license. The delisting is part of the broader MiCA enforcement that has already resulted in USDT removal from EU-regulated exchanges, while Circle's USDC continues to expand on regulated European rails.

Visa announced it is deploying stablecoin infrastructure to power money transfers in the Democratic Republic of Congo, extending regulated stablecoin payment rails into an African emerging market.

President Trump publicly stated that Bitcoin should not be subject to capital gains taxation, advocating for its removal alongside a defense of his family's crypto-related financial holdings. The statement was made in the context of Trump's previously disclosed $1.4 billion in 2025 crypto-related income.

Nansen data confirmed President Trump extracted approximately $636 million from the TRUMP memecoin while approximately 988,000 retail wallets collectively lost $3.81 billion. Total insider extraction across the project reached approximately $4 billion. Senator Kirsten Gillibrand introduced legislation to ban elected officials including the President from launching or profiting from memecoins, citing the disclosed figures.

Senator Elizabeth Warren introduced legislation to bar the Trump family from all cryptocurrency profits following Trump's disclosure of over $1.4 billion in crypto-related income. Senator Kirsten Gillibrand separately introduced a bill to ban elected officials from issuing or profiting from memecoins, stating such a ban is a precondition for her support of any crypto legislation.