Ripple CEO Brad Garlinghouse has criticized JPMorgan CEO Jamie Dimon’s opposition to the Clarity Act, a bill that would establish rules for much of the U.S. crypto market.

Garlinghouse argued that Dimon mischaracterized the legislation during recent public comments. The disagreement comes as lawmakers continue reviewing the bill before a potential Senate vote.

Garlinghouse disputes Dimon’s criticism of the bill

Speaking during an interview with Fox Business, Garlinghouse responded directly to comments Dimon made about the Clarity Act. The Ripple executive said Dimon incorrectly portrayed the legislation as reducing compliance safeguards. Garlinghouse argued that the bill would provide regulatory clarity rather than weaken oversight.

Garlinghouse said, “What Jamie Dimon did a disservice around is that he’s representing that this reduces compliance concerns.” He added that the characterization was inaccurate and could influence public perception of the legislation. According to Garlinghouse, support for the bill centers on establishing clear rules for digital asset companies.

The comments followed a public debate over provisions contained within the proposed legislation. Lawmakers continue reviewing measures that would define regulatory responsibilities across parts of the crypto industry. The bill remains one of the most closely watched digital asset proposals in Washington.

Stablecoin yield provision remains a key dispute

A major area of disagreement involves language that would allow crypto exchanges to offer stablecoin yield products. Dimon has publicly criticized that provision and questioned efforts supporting its inclusion. Coinbase CEO Brian Armstrong has argued that the measure should remain part of the legislation.

During a previous interview, Dimon said Armstrong was the primary advocate for the provision. He also claimed that Coinbase spent substantial resources supporting policy efforts in Washington. The JPMorgan chief further criticized Armstrong while discussing the stablecoin yield debate.

Garlinghouse acknowledged that Armstrong represents Coinbase rather than the entire crypto sector. However, he said many digital asset firms support legislation that provides regulatory certainty. The Ripple executive argued that industry participants continue seeking clearer operating frameworks in the United States.

Senate vote approaches as lobbying efforts continue

Garlinghouse also linked JPMorgan’s opposition to commercial interests within the banking industry. He said traditional financial institutions benefit from maintaining existing market structures. According to Garlinghouse, those interests influence resistance to parts of the legislation.

The Clarity Act advanced through a Senate committee vote last month. Lawmakers are expected to consider the proposal on the Senate floor before any final action. The measure would establish rules governing large sections of the U.S. digital asset market.

Meanwhile, debate continues among banks, crypto companies, and industry groups over the bill’s final structure. Stablecoin yield provisions remain one of the most contested sections under discussion. Prediction market data from Polymarket currently places the odds of the bill becoming law this year at 47%.

The structure is based on depositary receipts, a longstanding financial product that allows investors to gain exposure to shares through a bank-issued security. Citi has adapted that model for private companies and recorded the securities on blockchain infrastructure operated by Swiss market operator SIX.

The result is a digital version of a traditional financial instrument. Investors own the depositary receipt rather than the underlying shares directly, while Citi acts as both issuer and custodian.

The bank argued the approach could make private-market investing simpler and more transparent than some existing structures, which often rely on special-purpose vehicles and multiple intermediaries.

The launch is part of a larger effort by major financial institutions to tokenize traditional assets.

Tokenization refers to representing real-world assets such as stocks, bonds or bank deposits as digital tokens that can move across blockchain networks.

Supporters say tokenized assets could eventually reduce settlement times, lower costs and allow markets to operate around the clock.

Citi has been among the banks pushing that transition. Earlier this month, Citi joined several of the largest U.S. banks in announcing plans to develop a shared tokenized deposit network through The Clearing House by mid-2027. The system would convert traditional bank deposits into blockchain-based tokens while keeping funds inside the regulated banking system.

BitGo has introduced Lightning Earn, a product that lets institutional clients allocate Bitcoin to Lightning Network routing channels.

The product uses Amboss Technologies’ Rails platform to manage liquidity routing across Lightning payment paths. Participants earn fees in Bitcoin from routed payments while using BitGo custody accounts.

BitGo links custody accounts to Lightning routing

BitGo designed Lightning Earn for corporate treasuries and institutional allocators that already hold Bitcoin through its custody platform. Clients can place Bitcoin into Lightning Network channels used to route payments between connected nodes. The routing activity generates fees paid in native Bitcoin, rather than tokens or synthetic rewards.

The company said clients access the product through existing BitGo custody accounts. BitGo also said custody controls, governance steps, and compliance workflows remain in place during deployment. The structure allows institutions to use Bitcoin for routing liquidity without moving assets into external retail wallets.

BitGo CEO Mike Belshe said Rails gives clients a way to deploy Bitcoin “without compromising custody or governance.” The company also placed part of its own treasury into Rails. BitGo said the allocation helped test the process before wider institutional use.

Amboss Rails manages liquidity across payment channels

Amboss Technologies provides the Rails platform behind the routing function. Rails helps allocate Bitcoin liquidity across Lightning channels where payment flow requires capacity. The system connects institutions with routing paths that need capital to process Bitcoin payments.

Amboss CEO Jesse Shrader said BitGo’s integration of Rails shows that “Lightning is fit for institutions.” He also said institutional capital can support enterprise-scale Bitcoin payments. The statement relates to liquidity deployment, not guaranteed returns.

Lightning Network routing fees depend on payment activity across connected channels. Participants receive fees when their liquidity helps move payments between nodes. BitGo said the product does not use synthetic assets, token incentives, or derivative yield products.

Lightning Earn uses Bitcoin fees instead of token rewards

The product differs from yield products that depend on lending, staking, or third-party token rewards. Lightning Earn relies on routing fees from payment traffic across Lightning channels. All earnings remain denominated in Bitcoin.

BitGo said its regulated trust bank controls continue to govern the deployed assets. The firm also said clients retain ownership of Bitcoin used in routing channels. Governance rules apply across all allocations made through the product.

Amboss said Rails supports liquidity allocation across Lightning Network endpoints. The company also said the platform helps payment channels access routing capacity. BitGo’s Lightning Earn product is now available to institutional clients through existing custody accounts.

Tether Investments said it led a $1.4 billion funding round for Neura Robotics, a German startup developing AI-powered humanoid robots, in what it called one of the largest investments into physical AI on record.

The funding, announced Wednesday, was projected to value Neura between $9 billion and nearly $12 billion when it first became public last November. Other participants in the round included Qualcomm Technologies, Amazon and NVIDIA, Neura said in a post on its website.

Neither Tether nor Neura responded immediately to a CoinDesk request for further information.

“AI is moving from the digital world into the physical world,” David Reger, founder and CEO of Neura Robotics, said in a statement. The company recently said it aims to produce 5 million robots by 2030 with about $1.2 billion orders already.

Tether, the issuer of the USDT stablecoin, is building its own technology right into Neura’s systems. The robots will receive their own independent digital wallets, allowing them to be paid automatically the moment they finish a job. They will also be able to make electronic payments to other machines, cutting out human managers, paperwork and bank delays.

Under CEO Paolo Ardoino, the El Salvador-based company is spending in a range of industries outside of the immediate crypto sector. Its growing portfolio includes investments in agriculture, brain tech and sports. The company made over $10 billion in profit in the first nine months of 2025 by investing rese

SpaceX has priced its shares at $135, according to a filing with the U.S. Securities and Exchange Commission on Thursday, setting the stage for one of the most closely watched public market debuts in recent years.

The company sold 555.6 million shares at that price, raising $75 billion, making it the largest IPO ever, easily topping Saudi Aramco’s $30 billion in 2019.

The Elon Musk-led aerospace and satellite company is expected to begin trading on Nasdaq on Friday under the ticker SPCX, giving public investors their first opportunity to buy shares. Based on the offering price, SpaceX will enter the public markets with a fully-diluted valuation of roughly $1.8 trillion.

The valuation is a pricey one, given SpaceX produced roughly $19 billion in revenue last year, driven by launches, government contracts and its rapidly growing Starlink satellite internet business.

Also notable is the company’s sizable bitcoin BTC$62,866.08 holdings. SpaceX held 18,712 bitcoin as of March 31. That would be valued at just under $1.2 billion at BTC’s current price around $63,500.

Ether (ETH) traders are increasing their leveraged long positions despite ETH price being down 44% in 2026. Ether’s futures open interest at Binance has climbed to a record 3.7 million ETH, with the exchange accounting for more than 44% of total Ether futures.

Crypto analyst Darkfost noted that Ether futures activity has improved despite rising uncertainty driven by geopolitical tensions and weakening economic conditions.

The analyst noted that Binance now holds nearly 3.7 million ETH in open futures contracts, marking a new all-time high for Ether open interest on the exchange.

ETH open interest value on Binance. Source: CryptoQuant

Improving risk appetite for long positions also emerged as Binance’s weekly average taker buy-sell ratio increased to 1.0 from 0.95 after months of seller-led activity. A reading near 1.0 points to a more balanced market after a prolonged period of selling pressure.

The trend extends beyond Binance. Across all exchanges, the taker buy-sell ratio has risen to 1 from 0.94 over the past two weeks, indicating that buyers are becoming more active in market orders than sellers.

Ether: taker buy sell ratio across all exchanges. Source: CryptoQuant

At the same time, the speculative activity is accelerating faster than spot demand. Binance’s perp-spot volume imbalance indicator climbed to roughly 0.90, close to a record high, while its 30-day Z-score reached 2.53. 

Perpetual futures volume stood near 5.57 million ETH compared with about 290,000 ETH in spot trading. This indicates leveraged participation is expanding far more quickly than activity in the underlying market.

ETH Perp-Spot volume imbalance indicator. Source: CryptoQuant

Related: Audiera’s AI token BEAT beats Bitcoin, Ethereum as price surges 1,500% in a month

ETH liquidation risk remains on both sides

Market analyst Amr Taha highlighted a growing split in exchange positioning. Binance recorded a 30-day open interest increase of 616,400 ETH, its strongest reading since 2019. During the same period, Gate.io posted a decline of 631,700 ETH.

Multi-exchange open interest 30-day change. Source: CryptoQuant

Liquidation heatmaps show nearly $8 billion in short positions clustered between $2,200 and $2,400. Those levels stand out as key liquidity zones if ETH price begins to push higher. 

However, near-term positioning remains heavily leveraged on both sides. Roughly $1.72 billion in cumulative long liquidations sits below the current price of $1,500, while nearly $1.90 billion in short liquidation exposure is concentrated near $1,800. 

The narrow gap between those pools highlights a market where both bullish and bearish positions carry significant liquidation risk.

ETH liquidation map. Source: CoinGlass

Related: ETH crash to $1K looms if key support breaks: Will futures traders step in?