Crypto World
The ethics provision arrived. It expires with Trump’s term.
The language that decides crypto’s biggest bill finally exists: a ban on federal officials issuing digital assets, enforced only by the Justice Department, with penalties of $250,000 a day, and a sunset clause dated to the next president’s inauguration. Here is what the text actually does, what it carefully does not, and the vote math it has to survive this week.
Summary
- Senate Republicans released updated CLARITY Act text on Wednesday containing the long-awaited ethics provision: a ban on the president, vice president, members of Congress, and senior federal officials issuing or sponsoring digital assets while in office.
- President Trump personally signed off on the language Monday after months of deadlock, with the White House calling it the most comprehensive ethics provision in history and penalties reaching $250,000 per day.
- The design choices are the story: the ban covers issuing new assets, not holding or profiting from existing ones; enforcement belongs solely to the Justice Department, with state attorneys general expressly barred; and the entire provision sunsets on January 20, 2029, the next president’s inauguration day.
- The two Democrats whose committee votes carried the bill, Senators Alsobrooks and Gallego, oppose the released version, centering their objection on DOJ-only enforcement by a department the president’s former personal lawyer has been picked to run.
- The floor math is unchanged and unforgiving: roughly seven Democratic crossovers needed for 60 votes, a cloture motion required within days, and the August recess closing the window on the most consequential crypto bill Congress has produced.
For a year, the decisive section of the most important crypto legislation in American history did not exist. The CLARITY Act’s market-structure machinery, its asset taxonomy, its DeFi shield, its agency handoffs, was drafted, merged, and printed, while the ten or so pages that would determine whether any of it becomes law, the ethics language governing officials who profit from the industry they regulate, remained a blank space that negotiators talked around. On Wednesday the blank space filled in. Senate Republicans released updated bill text containing the provision President Trump personally accepted two days earlier, and the crypto industry, which has spent months insisting the ethics fight was a sideshow, can now read the main event. The provision bans federal officials, the president included, from issuing digital assets while in office, on penalty of up to $250,000 per day, enforced by the Department of Justice. It is, exactly as the White House advertises, the most comprehensive crypto ethics restriction ever written into American legislation. It is also a document whose three central design choices, what it covers, who enforces it, and when it dies, each preserve what the provision appears to surrender, and the senators whose votes it was written to win noticed all three before the ink dried. What follows is the close read: the text, the trade, and the arithmetic it must survive in the next several days.
What the provision actually says
The released language, provided by lead sponsor Senator Cynthia Lummis, does four things, and precision about each matters more than usual, because the gaps between them are where the politics live.
First, the ban. Federal officials, the president, vice president, and members of Congress among them, are prohibited from issuing or sponsoring cryptocurrencies and other digital assets while in office. The verb is the provision’s load-bearing wall: issuing. An official may not launch a token, sponsor a coin, or put their name to a new digital asset offering during their tenure. The prohibition is real, and its most obvious application is retrospective in spirit: the TRUMP memecoin, launched days before the second inauguration, and World Liberty Financial’s token issuances are exactly the genre of activity the ban describes, and under this language, no sitting official could repeat them.
Second, the enforcement architecture. The Justice Department, through the attorney general, is the provision’s sole enforcer, empowered to act against officials and, notably, against crypto exchanges for violations. State attorneys general, the enforcement channel Democrats spent months demanding, are expressly excluded. This was, according to reporting on the White House’s industry briefing, the administration’s firm line: ethics rules for federal officials, the argument runs, are federal business, enforced through the federal channel, uniformly, everywhere.
Third, the penalties: up to $250,000 per day of violation, a figure designed to read as severe and to compound quickly against any sustained breach.
And fourth, the clause that will be quoted longest: the provision sunsets on January 20, 2029, inauguration day for the next president. The White House fact sheet frames the date with remarkable candor, describing the restriction as a standard President Trump chose to hold himself to, not one Congress imposed on him. The most comprehensive ethics provision in history, by its own terms, applies to precisely one presidency and expires the morning that presidency ends.
What it carefully does not say
Read the provision against the conduct that motivated it and the scope decisions come into focus, because the fit between the two is deliberate and partial.
The Office of Government Ethics disclosure released July 1 showed the president earned roughly $1.4 billion in crypto-related income in 2025, including approximately $580 million connected to World Liberty Financial, the family venture behind the WLFI token and USD1 stablecoin, with Reuters tallying the family’s crypto-linked wealth gain since the return to office above $2 billion. That income stream is the fact pattern Democrats have spent a year describing as disqualifying, Senator Warren’s phrase was brazen financial corruption, and it is worth stating plainly what the new provision does to it: nothing. The ban covers issuing new assets, not holding existing ones, not earning from ventures already launched, not the licensing income from a memecoin already trading, not the float income of a stablecoin already circulating. Every disclosed dollar of the $1.4 billion would have been earned identically under this provision, because the ventures that generate it predate the ban that would now apply. The provision forecloses the sequel while blessing the original, which is either a reasonable prospective compromise or the entire tell, depending on which caucus is reading.
The enforcement design has the same double character. Assigning federal ethics enforcement to the Justice Department is, in one light, simply constitutional hygiene: DOJ enforces federal law against federal officials, as it always has. In the other light, it assigns the policing of the president’s conduct to a department whose leadership the president selects, and the abstraction has a name attached this month: Todd Blanche, the president’s former personal defense lawyer, is his pick to run the department that would hold the sole key to this provision. Democrats’ counter-demand for state attorneys general was never really about federalism; it was about placing enforcement somewhere the restricted party cannot reach, and many state AGs have spent two years litigating against this administration. The White House’s uniform-standard argument and the Democrats’ captured-enforcer argument are both coherent. They are also irreconcilable, which is why this single design choice, more than the ban’s scope or the sunset’s date, is where the released text met its opposition.
And the sunset completes the pattern. A restriction that expires on January 20, 2029, inauguration day for the next president, binds no future president, creates no permanent norm, and, its critics note, converts what was demanded as a structural reform into a personal undertaking with a termination date. The generous reading is legislative realism: sunsets are how contested provisions pass, and a 2029 expiry simply hands the question to the next Congress with a precedent on the books. The ungenerous reading writes itself.
The reception, counted in votes
The provision’s purpose was arithmetic: convert enough of the seven-to-nine needed Democratic crossovers to reach sixty. Its first day produced the opposite motion.
Senators Angela Alsobrooks and Ruben Gallego, the only two Democrats who voted the bill out of committee and therefore the crossover coalition’s indispensable foundation, both announced they oppose the released version. Their stated objection is not the ban’s scope or the sunset; it is the enforcement monopoly. Alsobrooks, who had earlier characterized the emerging deal as an offer too unserious to support, said directly she cannot back legislation with the Justice Department as sole ethics enforcer, and pressed the state-AG demand the released text expressly forecloses. Losing the two committee Democrats on day one means the provision, as written, has so far subtracted from the coalition it was drafted to complete.
Around that core, the map is more textured than the headlines. The three-senator opposition bloc, Murphy, Merkley, Van Hollen, that organized against the merged draft remains opposed, with Warren adjacent. Senator Cortez Masto’s separate objection, that the bill’s Section 604 developer protections would impair illicit-finance enforcement, was not addressed by the revision at all, her office confirmed, meaning the ethics text resolved none of her price. But seven Democrats generally considered pro-crypto issued a joint statement that criticized the current text while conspicuously declining to rule out a deal, which is the signature of a caucus negotiating, not walling. And the administration is running the pressure campaign accordingly: an official’s on-record framing that Democrats who block the bill after the president bent over backward were never serious, Treasury Secretary Bessent’s declaration that Congress stands at the one-yard line, and an industry mobilization pointed at the same handful of offices. The blame architecture for failure is being constructed in parallel with the negotiation for success, which tells you the White House prices both outcomes as live.
Beneath the positioning sits the physics no statement changes. Sixty votes for cloture, twice, against 52 Republican seats after Senator Graham’s death, minus the expected Hawley and Paul defections, with Senator McConnell’s availability uncertain. The bill has sat eligible on the calendar since June 1; a cloture motion must be filed within days for two full Rule XXII sequences to fit before the recess in early August; and every day spent negotiating enforcement language is a day subtracted from a window that was already too small for error. The provision arrived with perhaps a week to convert its critics, and its first 24 hours converted none.
The negotiation’s fossil record
The released text is the sixth known attempt at this provision, and its predecessors explain both why the current design looks the way it does and where the remaining give might be, because each failed version marks a boundary somebody refused to cross.
The maximal Democratic version came first: divestment-grade restrictions barring senior officials and their families from owning or profiting from digital-asset ventures the government regulates, the framework behind Senator Warren’s public demands and the standing bills Democrats introduced through 2025. It never advanced, because it would have required the president’s ventures to unwind, which was always the one outcome the White House would kill the bill to avoid. Senator Van Hollen carried a narrower amendment into the Banking Committee markup in May, and it failed 13 to 11 along party lines, the cleanest recorded measurement of where the committee’s majority stood: no ethics language at all, if the majority chose. Then came the White House’s early counter-doctrine, articulated by crypto adviser Patrick Witt, that any restriction must apply uniformly to all officials rather than targeting the president or his family, a principle that sounds procedural and functions substantively, since uniform prospective rules are precisely the kind that leave existing presidential ventures untouched. A subsequent compromise attempt reportedly built around state attorneys general as enforcers collapsed when Democrats judged the surrounding package inadequate, which is the fossil that matters most now: the state-AG mechanism was, at one point, on the table with the administration’s participation, before it hardened into the red line the current text draws against it.
Read as a sequence, the record shows the negotiation ratcheting in one direction. Divestment gave way to conduct rules; conduct rules narrowed to issuance; enforcement migrated from independent channels toward the department the president staffs; and permanence gave way to a sunset dated to his departure. Each step was the price of keeping the White House at the table, and the final text is what remains after every element the administration found genuinely costly was traded away. That history is the strongest version of the Democratic objection, stronger than any single design critique: the provision is not a compromise between two positions, it is the residue of one position’s serial retreat, and senators asked to bless it are being asked to certify the retreat as sufficient. It is also, simultaneously, the strongest version of the Republican rejoinder: five failed versions prove the alternative to this text was never a stronger text, only no text, and the fossil record of a negotiation is not a menu from which the minority may now reorder. Both arguments will be made on the floor this week, about the same six documents, and the seven senators who decide the outcome have read them all.
The honest reading, both ways
Strip the spin from both camps and two true descriptions of this document coexist, which is precisely why the next week is genuinely uncertain.
The provision is a real concession. No prior Congress has enacted any statutory restriction on a president’s digital-asset conduct; this text would create the first, with the sitting president’s signature, criminalizing the exact behavior, official-sponsored token launches, that defined the current administration’s crypto entanglement. The issuing ban forecloses the next TRUMP coin, the next family stablecoin launch, the next official-adjacent token offering, for this White House and this Congress, under penalties that compound daily. Prospective-only application, federal enforcement, and sunset clauses are not scandals; they are the standard grammar of contested legislation, and Democrats demanding more were always going to be told that the perfect provision attached to a dead bill protects no one. On this reading, the deal is the achievable maximum, and the crossover Democrats’ real choice is this text plus the entire market-structure framework, or nothing plus a talking point.
The provision is also a carefully bounded one. Its scope exempts every existing revenue stream that motivated it; its enforcer answers to its principal subject; its lifespan matches his term. Each boundary was a choice, each choice was the White House’s, and the pattern of the three, together with a fact sheet that openly describes the restriction as self-imposed rather than congressionally required, supports the Democratic suspicion that the document’s function is narrative, a provision comprehensive enough to campaign on and porous enough to cost nothing. On this reading, the state-AG demand is not a detail; it is the only element that would give the text an enforcer outside the subject’s appointment power, which is why it was the one element refused.
Both readings survive contact with the text. The Senate will effectively choose between them by Friday, because the calendar has converted an interpretive question into a scheduling one. Watch three things in sequence: whether the enforcement language moves, since a hybrid mechanism, DOJ primary with any independent backstop, is the visible landing zone between Alsobrooks’s stated floor and the White House’s stated ceiling; whether a cloture motion gets filed, the only signal that leadership’s private count reached sixty; and whether the seven-Democrat statement hardens or softens as the pressure campaign lands. The blank space at the center of American crypto legislation is filled. What remains blank, for a few more days, is whether the words in it were written to pass a bill or to explain why one failed.
Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, or legal advice. It describes draft legislation and a fast-moving negotiation whose text, schedule, and outcome can change at any time. Nothing here predicts any legislative result. Always do your own research. Information is accurate as of July 23, 2026.
Frequently Asked Questions
What does the new ethics provision actually prohibit?
It bans federal officials, including the president, vice president, and members of Congress, from issuing or sponsoring cryptocurrencies or other digital assets while in office, with violations subject to penalties of up to $250,000 per day. The prohibition targets new token launches and sponsorships of the kind exemplified by official-adjacent memecoin and venture-token issuances, and enforcement can reach both officials and crypto exchanges involved in violations.
Does it affect President Trump’s existing crypto income?
No. The ban covers issuing new assets, not holding or earning from existing ventures. The roughly $1.4 billion in 2025 crypto-related income shown in the July 1 ethics disclosure, including approximately $580 million connected to World Liberty Financial, derives from ventures launched before the provision would take effect, and those income streams, memecoin licensing and stablecoin operations included, continue unaffected under the released text.
Who enforces it, and why is that controversial?
The Justice Department alone, with state attorneys general expressly barred from enforcement. Democrats object that this assigns policing of the president’s conduct to a department whose leadership he selects, sharpened by the fact that Todd Blanche, the president’s former personal defense lawyer, is his pick to run it. The White House argues federal ethics rules require uniform federal enforcement. This single dispute is the stated reason the two committee Democrats oppose the released version.
What is the sunset clause?
The entire provision expires on January 20, 2029, the next president’s inauguration day. The White House fact sheet describes the restriction as a standard Trump chose to hold himself to rather than one Congress imposed, meaning the ban binds only the current presidency and creates no permanent rule. Supporters call sunsets standard legislative compromise; critics call this one the provision’s clearest tell.
Why do Senators Alsobrooks and Gallego matter so much?
They were the only Democrats to vote the bill out of committee, making them the foundation of any crossover coalition. The bill needs roughly seven Democratic votes to reach the 60-vote cloture threshold, and a path to seven that does not run through the two most supportive Democrats is difficult to construct. Both announced opposition to the released version over the DOJ-only enforcement design, meaning the provision initially subtracted from the coalition it was meant to complete.
Could the bill still pass before the recess?
Mechanically yes, barely. A cloture motion would need to be filed within days, since the bill requires two full 60-vote cloture sequences under Senate Rule XXII, each consuming most of a working week, before the recess in early August. Seven pro-crypto Democrats issued a statement criticizing the text without ruling out a deal, and a compromise on enforcement, such as a hybrid mechanism with an independent backstop, is the visible landing zone if one exists.
What happens to the provision if the bill fails?
It dies with the bill, and likely the whole framework slips substantially. Analysts and Senator Lummis have warned that missing this window could shelve market-structure legislation for years, with the current Congress expiring in January 2027. The ethics precedent, the first statutory crypto restriction on a president, would remain an unenacted draft, available to future negotiations but binding no one.
What should crypto market participants take from this?
That the bill’s fate now turns on one design dispute, enforcement, and one calendar, this week’s. The market-structure provisions the industry actually wants, asset classification, the ETP grandfather clause, the DeFi shield, are hostage to the ethics resolution, and prediction markets pricing passage below a coin flip are pricing exactly this standoff. Watch for a filed cloture motion as the definitive signal, and treat all rhetoric before it as negotiation. This is educational analysis, not investment or legal advice.
Ether’s valuation picture is looking more compelling relative to Bitcoin, but on-chain data suggests the market may not yet have reached a decisive long-term bottom. CryptoQuant’s latest weekly analysis points to ETH trading below a key “realized value” benchmark while several other indicators are improving—just not all at the historical turning points seen in prior cycle lows.
In the report, CryptoQuant says ETH is approximately 17% under its realized price, an on-chain metric that reflects the average cost basis of ETH held across the network. That realized value is currently estimated at roughly $2,300, a level that historically has aligned with periods of broad undervaluation and longer-term bottoms. Still, CryptoQuant cautions that only part of its indicator set has reached the extremes typical of fully confirmed cycle transitions.
Key takeaways
- CryptoQuant estimates ETH is trading about 17% below its realized price (realized value around $2,300), a historically undervalued regime.
- Two of CryptoQuant’s five “bottoming” indicators are at historical reversal levels, while the remaining three are improving but not yet at prior cycle lows.
- ETH relative to BTC shows signs of stabilization: ETH/BTC spot volume has shifted into a range historically seen near market bottoms.
- Exchange inflows appear to be cooling while ETF holdings have started to recover after months of weakness, according to CryptoQuant’s account.
- Ethereum’s circulating supply continues to tighten as staking participation rises, with 34% of supply reported as staked by Staking Rewards.
ETH under realized value, but the bottom isn’t “confirmed”
The core of CryptoQuant’s valuation argument is that ETH is still trading at a discount to realized price. When market participants transact at prices below the average on-chain acquisition cost, it can indicate capitulation-like behavior—especially if sustained. CryptoQuant says this condition previously marked periods of undervaluation and longer-term basing for ETH.
However, the company frames its message carefully: even if the discount is present, a complete bottoming process typically requires multiple on-chain signals to align. In its weekly report, CryptoQuant notes that only two of five bottoming indicators have reached historical reversal levels. The rest are moving in the right direction, but they have not yet reached the extreme readings seen at previous cycle lows.
For traders and investors, the practical takeaway is that ETH’s valuation is improving relative to its own on-chain history, but the market’s “cycle bottom” may still be forming rather than fully established. That distinction matters because the typical pattern of post-bottom recovery can be uneven—particularly when some indicators have flipped while others remain mid-transition.
Shifts in ETH/BTC: cheaper relative to Bitcoin and calmer trading activity
CryptoQuant also highlights ETH’s improving relative posture versus Bitcoin. The analytics firm points to several metrics that, together, suggest Ethereum may be shedding an overvalued phase relative to BTC.
Among the factors cited: CryptoQuant says the ETH market value-to-realized value (MVRV) ratio has retreated from extreme overvaluation. It also reports that exchange inflows have declined and that ETF holdings have started to recover after months of weakness. On top of that, the firm notes that ETH/BTC spot trading volumes have fallen into a range historically associated with market bottoms.
CryptoQuant’s historical framing is important because it implies investors should consider not only where prices are, but how activity is behaving across markets. A shift toward lower relative volume can indicate reduced speculative churn—often a feature of consolidation during basing phases. At the same time, falling volume can also mean liquidity and volatility conditions are changing, which may affect how quickly price trends develop once sentiment improves.
CryptoQuant data also suggests the ETH/BTC MVRV ratio has fallen sharply from nearly 0.95 in August 2025 to around 0.65, signaling that Ethereum has become materially cheaper relative to Bitcoin. That degree of compression is consistent with a market moving away from the kinds of relative richness that can precede drawdowns.
Supply dynamics: exchange outflows, rising staking, and corporate accumulation
Beyond valuation, CryptoQuant’s broader on-chain lens aligns with a tightening supply narrative forming in Ethereum. A key component is exchange behavior. During the week beginning June 29, withdrawal activity on Binance—described in earlier coverage as the largest crypto exchange by trading volume—rose to its highest level in more than three years, according to reporting from Cointelegraph.
While exchange outflows are often interpreted as a sign that holders are moving assets toward self-custody or staking rather than leaving them on exchanges for potential sale, CryptoQuant’s kind of framework typically treats those flows as suggestive rather than determinative. Outflows can coincide with long-term conviction, but they can also reflect operational movements or transfers that do not automatically translate into net accumulation.
On the staking front, Ethereum’s supply appears to be increasingly locked away from immediate trading. Staking Rewards data referenced in the coverage indicates that 34% of Ethereum’s circulating supply is now staked, a record level. This matters because higher staking participation reduces the liquid portion of ETH available for frequent exchange-level trading—potentially easing short-term selling pressure if demand holds up.
Corporate accumulation also factors into the supply story. Cointelegraph previously reported that Tom Lee’s Bitmine Immersion Technologies, identified as the largest corporate ETH holder, increased its holdings by 325,000 ETH over a one-month period even while sitting on large unrealized losses. The company reportedly has a target to hold 5% of the second-biggest crypto.
Taken together, these elements—less ETH sitting on exchanges, more ETH being staked, and large holders adding—create an environment where upward price moves may face less immediate sell pressure than they would in a purely liquidation-driven setup. Still, supply tightness does not guarantee a bottom, which is why CryptoQuant’s multi-indicator approach remains central to its caution.
What’s happening in price action—and why macro optimism could matter
CryptoQuant’s on-chain caution arrives while price action has shown moments of strength. The report notes Ether briefly climbed above $1,950 this week, while Bitcoin topped $67,000, supported by optimism around the US CLARITY Act. The same coverage also references market analysts pointing to the possibility of capital rotating out of richly valued AI stocks and back into crypto—an argument that, if it materializes, could broaden risk appetite and support ETH alongside BTC.
Even so, the on-chain message is not “wait for confirmation” in a vague sense—it is more specific: only two of the five bottoming indicators have reached historical reversal levels, meaning key extremes still appear to be missing. For market participants, that implies monitoring should focus on whether the remaining metrics continue to accelerate toward prior-cycle low patterns rather than treating the current valuation discount as the whole story.
Going forward, the main question is whether the unconfirmed indicators catch up—especially those tied to market behavior such as inflows, valuation extremes, and volume conditions—while staking and exchange outflows keep tightening ETH’s liquid supply. If those trends persist, CryptoQuant’s “improving but not finished” framework could shift toward a more definitive bottoming profile; if they fade, the market may remain in a drawn-out consolidation instead of entering a clean rebound.
Ripple CEO Brad Garlinghouse has called on U.S. lawmakers to pass the Digital Asset Market Clarity Act as the legislation faces renewed resistance from a group of Senate Democrats.
Summary
- Brad Garlinghouse urged Congress to pass the CLARITY Act rather than wait for perfect legislation.
- Seven Senate Democrats opposed the latest draft, demanding stronger ethics, consumer protection, and enforcement safeguards.
- Brian Armstrong said the bipartisan bill is ready for a Senate vote after lengthy negotiations.
Garlinghouse backed comments from Ripple Chief Legal Officer Stuart Alderoty, who argued that lawmakers should not abandon the bill while seeking a perfect compromise. The renewed industry push follows the release of updated legislative text as Congress approaches its August recess.
Garlinghouse responded to Alderoty’s call for lawmakers to move the legislation forward despite unresolved disagreements. Ripple has supported federal crypto market structure legislation throughout the current congressional negotiations.
“Perfect can’t be the enemy of good. Let’s get this done!,” said Garlinghouse.
Alderoty described the CLARITY Act as a consumer protection measure that would strengthen anti-money laundering and know-your-customer requirements while giving law enforcement and state authorities clearer tools to act against misconduct. Garlinghouse agreed with that position in his July 22 response.
The comments mark another public intervention from Ripple as the bill moves through a difficult final stage. Garlinghouse has repeatedly pushed lawmakers to establish federal rules for digital assets and previously expressed confidence that the legislation could advance in 2026.
Seven Senate Democrats reject latest draft
The latest version still lacks the Democratic support needed for an easy path through the Senate. Senators Catherine Cortez Masto, Angela Alsobrooks, Cory Booker, Ruben Gallego, John Hickenlooper, Mark Warner and Raphael Warnock issued a joint statement opposing the current text while saying negotiations should continue.
The senators said provisions covering ethics, consumer protection, illicit finance, conflicts of interest and market integrity needed further work. Their statement said they had negotiated with Republican colleagues for the past year and remained willing to seek an agreement.
Senate Banking Committee Ranking Member Elizabeth Warren also criticized the new text. She argued that its ethics provisions did not adequately address President Donald Trump’s crypto business interests and said the wider bill still lacked sufficient investor and national security protections.
The opposition creates a difficult vote count for supporters. As crypto.news reported in June, the legislation became eligible for Senate floor consideration after reaching the legislative calendar, but Republicans still need Democratic votes to clear the Senate’s 60-vote threshold.
Coinbase joins Ripple in calling for Senate vote
Coinbase CEO Brian Armstrong has also urged lawmakers to advance the bill. In a July 22 statement, Armstrong said the CLARITY Act was ready for a full Senate floor vote after months of negotiations between lawmakers and industry participants.
“The bill represents a true bipartisan compromise with thousands of hours of work on both sides,” noted Armstrong.
Armstrong argued that the absence of a single federal framework leaves consumers exposed and pushes parts of the crypto industry outside U.S. regulatory reach. His current support follows an earlier dispute over the legislation. Coinbase opposed a January draft, leading the Senate Banking Committee to postpone a planned markup, before supporting revised language later in the year.
The broader industry has also pressed Congress to act. As previously reported, more than 120 crypto organizations, including Ripple, Coinbase, Kraken and Circle, called for Senate action in April. The groups argued that the lack of market structure rules created uncertainty for companies operating in the U.S.
CLARITY Act faces a narrowing Senate window
The legislation seeks to establish a federal framework for digital asset markets and clarify regulatory roles across agencies. Senate Banking Committee materials describe consumer protection, national security and clearer oversight of digital asset markets as central goals of the proposal.
However, lawmakers continue to disagree over ethics provisions and other safeguards. The latest Democratic opposition came after Republicans released updated text on July 22, keeping negotiations active rather than producing a final bipartisan agreement.
Time also remains a factor. Sen. Cynthia Lummis viewed passage before the August recess as a more realistic target after earlier deadlines slipped. The Senate’s scheduled recess leaves supporters with a narrowing window to resolve disputes and secure enough votes.
Garlinghouse and Armstrong are now pressing lawmakers to accept the current compromise and continue improving federal crypto rules after passage. The seven Democratic senators opposing the latest text have taken a different position, saying they remain open to negotiations but want stronger protections before supporting the legislation.
The CLARITY Act therefore remains positioned for further Senate debate rather than guaranteed passage. Its next steps depend on whether lawmakers can settle the remaining ethics, consumer protection and enforcement disputes while preserving enough bipartisan support for a floor vote.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
EX DeFi is gaining attention as investors seek alternative ways to participate in the Bitcoin ecosystem amid improving crypto market sentiment.
Summary
- EX DeFi promotes cloud mining as institutional Bitcoin adoption and U.S. crypto regulation drive market interest.
- The platform highlights cloud mining as Bitcoin adoption grows and U.S. digital asset regulation advances.
- It spotlights cloud mining amid rising institutional Bitcoin demand and evolving U.S. crypto rules.
With new developments in US digital asset regulation and continued institutional inflows into Bitcoin spot ETFs, market sentiment has improved significantly. Bitcoin recently climbed back above the key $66,000 price range, and investors are now watching to see if it can challenge even higher levels and drive the entire digital asset market into a new upward cycle.
Data shows that Bitcoin spot ETFs have been attracting continuous inflows recently, with increasing institutional participation providing new liquidity support to the market. Meanwhile, Ethereum, XRP, and other mainstream digital assets have also strengthened, reflecting a gradual recovery in market risk appetite.
The Clarity Act boosts market expectations
Recently, the advancement of the US Clarity Act has become a focus of attention in the digital asset market. The market generally believes that this act is expected to further clarify the regulatory framework for digital assets, improve the policy environment for the long-term development of the industry, and enhance the confidence of institutional investors.
EX DeFi stated that if the bill proceeds smoothly, the market expects to further clarify the regulatory responsibilities of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the digital asset field, providing the industry with clearer regulatory expectations. While final implementation still requires subsequent legislative procedures, positive policy signals have become one of the important factors in the recent market recovery.
ETF funds continue to inflow, Bitcoin becomes market focus
In addition to the improved regulatory environment, the continued inflow of institutional funds into Bitcoin spot ETFs has further strengthened market confidence. Several market research institutions believe that the development of ETFs not only improves the convenience for institutions to allocate digital assets but also enhances the market acceptance of Bitcoin as a long-term asset allocation.
However, analysts also warn that future market trends will still be influenced by the global macroeconomy, monetary policy, regulatory changes, and market risk appetite, and digital asset prices will still experience some volatility.
Digital asset ecosystem continues to develop, cloud mining receives more attention
As the digital asset market continues to develop, more and more investors are beginning to focus on participation methods other than spot trading. Compared to purchasing, deploying, and maintaining mining equipment independently, cloud mining, with its lower barrier to entry and more convenient user experience, is gradually becoming an important part of the digital asset ecosystem.
Against this backdrop, EX DeFi offers smarter mining services, allowing users to participate in digital asset mining without deploying dedicated equipment and earn up to $13,000 in passive income daily through smart computing contracts.
How does EX DeFi ensure user asset security?
EX DeFi prioritizes fund security as a crucial aspect of its platform operations and has established a multi-layered security protection system to provide users with more robust digital asset services.
According to publicly available information, EX DeFi employs an asset storage system, intelligent risk control, network security protection, and compliance management mechanisms, combining multiple security measures to enhance the overall security of the platform.
Regarding asset storage, the platform uses a combined cold and hot wallet management model, with most digital assets stored in offline cold wallets to reduce network security risks.
According to Yahoo Finance, the platform also incorporates AI-powered intelligent risk control, Cloudflare enterprise-grade network protection, McAfee® security system, multi-factor authentication (2FA), and 24/7 real-time monitoring to further enhance account and asset security.
How to earn daily mining rewards with EX DeFi
EX DeFi is easy to use. Users only need to complete the following four steps to participate in cloud mining:
1. Register an Account
2. Deposit Digital Assets
The platform supports a variety of mainstream digital assets, including BTC, ETH, USDT, XRP, BNB, LTC, USDC, BCH, DOGE, and SOL. The deposit process is convenient, secure, and transparent.
3. Choose a Hashrate Plan
Choose a suitable mining contract plan based on budget and needs. The minimum investment is $100. Once activated, the plan will run automatically.
4. Automatic Daily Earnings
The platform provides 24/7 intelligent cloud mining services. The system automatically handles computing power operation and earnings settlement, allowing users to earn daily earnings without continuous operation.
Popular DeFi Yield Plans
BTC (Beginner Trial Contract): Investment of $100, Term: 2 days, Daily Yield: $4, Total Profit: $100 + $8
DOGE (Golden Shell Mini Dogecoin Pro): Investment of $500, Term: 6 days, Daily Yield: $6.5, Total Profit: $500 + $39
BTC (Canaan-Avalon-A1466): Investment of $1000, Term: 10 days, Daily Yield: $13.4, Total Profit: $1000 + $134
LTC (Bitmain Antminer L7): Investment of $5000, Term: 20 days, Daily Yield: $73.5, Total Profit: $5000 + $1470
BTC (Bitmain S19K-Pro): Investment of $10,000, Term: 30 days, Daily Yield: $161, Total Profit: $10,000 + $4,830
For more details on popular contracts, visit the official website.
Conclusion
As the digital asset market continues to develop, the regulatory environment gradually improves, and institutional funds continue to flow in, more and more investors are beginning to focus on more diversified asset allocation methods. Whether it’s spot investment, ETFs, or Bitcoin mining, different participation methods bring more choices to the market.
In an environment where market opportunities and volatility coexist, EX DeFi stated that it will continue to strengthen platform infrastructure construction and security system protection, and provide more stable and efficient mining services to global users by continuously optimizing computing power contract services and intelligent operation capabilities.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Nasdaq, Cboe and the London Stock Exchange are among major exchanges moving toward longer trading hours.
Mirae Asset has completed its takeover of South Korean cryptocurrency exchange Korbit after securing regulatory approval, paving the way to raise its ownership stake to more than 97%.
Summary
- Mirae Asset has completed its acquisition of Korbit and plans to raise its ownership stake to more than 97%.
- Korbit said its services, customer assets, and personal data handling will remain unchanged following the ownership change.
- The deal adds to a wave of investments by financial firms and global crypto companies in South Korea’s regulated digital asset market.
According to an announcement from Korbit, Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, has become the exchange’s largest shareholder after completing the required regulatory reporting process for its acquisition of a controlling stake.
A revised regulatory filing submitted by Mirae Asset on Tuesday showed the firm also plans to acquire an additional 7.35 million Korbit shares worth about 7.2 billion won ($5.32 million), according to the Korea Herald. Once the purchase is completed, Mirae Asset’s ownership will increase from 92.06% to 97.15%. Yonhap News Agency reported that the additional transaction is scheduled to close on Friday.
Korbit told users that the ownership change will not affect its day-to-day operations. The exchange said the operating company, Korbit Co., Ltd., will remain unchanged, allowing customers to continue using login, trading, deposits, and withdrawals without interruption.
The exchange also said customer deposits and virtual assets will continue to be held separately from company assets under South Korea’s Virtual Asset User Protection Act. In the same notice, Korbit confirmed it will remain the controller of users’ personal information, with no changes to how personal data is processed or used, meaning customers do not need to take any action.
Earlier this month, South Korea’s Fair Trade Commission approved the acquisition, describing it as the country’s first case of an affiliate of a traditional financial group acquiring a cryptocurrency exchange, according to the Korea Herald.
Mirae Asset Consulting has previously said the acquisition is intended to secure future growth opportunities built around digital assets.
Traditional finance increases exposure to crypto
With the transaction now completed, one of South Korea’s largest financial groups has formally entered the country’s regulated cryptocurrency exchange sector as traditional financial institutions continue increasing investments in digital assets.
According to CoinGecko data, Korbit processed roughly $4.3 million in spot trading volume over the past 24 hours, making it South Korea’s fourth-largest cryptocurrency exchange. Market leader Upbit handled approximately $224.2 million during the same period.
The acquisition also follows a series of investments that have brought established financial institutions closer to the country’s crypto industry.
In May, OKX Ventures agreed to acquire a 19.6% stake in South Korean exchange Coinone through an 80 billion won ($53 million) investment, pending regulatory approval. Coinone said the investment, made alongside Korea Investment & Securities, would combine secondary share purchases with subscriptions for newly issued shares.
As part of that agreement, Coinone and OKX Ventures said they would exchange expertise in user protection, security systems, and risk management, while Korea Investment & Securities said it intends to pursue opportunities involving security tokens and stablecoins as South Korea continues discussions on digital asset legislation.
The Coinone investment came after Binance’s acquisition of rival exchange Gopax, adding to a growing list of global cryptocurrency firms expanding into South Korea’s regulated digital asset market.
Domestic financial institutions have also stepped up activity across the sector. Earlier this year, Samsung subsidiaries announced plans to acquire a combined 4% stake in Dunamu, the parent company of Upbit, while several major banks and payment companies, including KB Kookmin, Shinhan and NHN KCP, entered partnerships involving tokenized deposits and stablecoin payment infrastructure.
Korbit continues expanding partnerships
Before the ownership change, Korbit had already been expanding its blockchain partnerships.
In November 2024, the exchange partnered with Coinbase to integrate Base, Coinbase’s Ethereum layer-2 network, allowing users to deposit Ether on Ethereum and withdraw it through Base, or complete the process in reverse.
At the time, Coinbase said it would support Korbit through promotional campaigns, community events and initiatives tied to the Base ecosystem. The companies also said they planned to cooperate on developing on-chain technology in South Korea and expanding support for Base network functions.
Korbit Chief Executive Officer Oh Se-jin said the partnership with Coinbase would help the exchange develop services aligned with global industry trends and strengthen its competitiveness. Coinbase Vice President of Business Development Dan Kim said the company planned to work with Korbit on buildathons, hackathons, and educational community events designed to introduce more Korean users to the Base ecosystem.
Blockstream CEO Adam Back dismissed BIP-110 supporters as “idiocracy” on X. They had pushed a “flip the bit” plan to activate the proposal, which would restrict non-financial data on Bitcoin’s network.
BIP-110, or Bitcoin Improvement Proposal 110, needs majority miner signaling to lock in by early August 2026. Back said Bitcoin’s main chain faces no threat if that support never appears.
What the ‘Flip the Bit’ Plan Proposes
Bitcoin infrastructure firm Start9 framed the activation as risk-free reconnaissance. The firm argued that flipping the bit costs roughly 0.1% of a miner’s revenue over a year.
Refusing, it warned, risks a chain split, stranded Lightning Network (LN) counterparties, and lost fee-paying users.
The rule targets Ordinals, image and text files embedded directly inside Bitcoin transactions that critics say clutter the chain. However, Back rejected the Start9 framing outright.
He argued that the signal simply expires without broad backing. The clash extends an earlier Bitcoin Satoshi Nakamoto debate over BIP-110, where Back rejected claims that Satoshi Nakamoto would have supported it.
Back Says Technical Objections Cannot Be Overridden
Back called the pushback circular. He cited what he termed an IETF-like consensus. That practice, he explained, weighs only valid technical objections.
Therefore, he said, no process can accommodate sabotage attempts, regardless of intent. The disagreement follows Bitcoin Core’s earlier removal of default limits on OP_RETURN, a transaction field once capped to discourage large data uploads.
Meanwhile, MicroStrategy co-founder Michael Saylor raised similar concerns in a recent Bitcoin neutrality warning, cautioning that the change could sacrifice protocol neutrality.
Other developers, in contrast, frame the fight as part of a broader Bitcoin anti-spam debate over what the blockchain should carry.
BIP-110 Miner Support Stays Thin Before the August Deadline
Signaling for BIP-110 remains minimal. Major mining pools have largely stayed out of the effort so far. Exchanges and node operators are watching the deadline closely, wary that a contentious activation could split the chain they must support.
Back has previously downplayed a related Bitcoin miner fork claim, rejecting the idea that the network would forcibly exclude miners. He has pointed critics toward his own Bitcoin fork risk warning for further context.
The mandatory signaling window opens in early August 2026.
However, whether the flip-the-bit push fades quietly or drags into a real fork should become clear within weeks.
The post Adam Back Calls Bitcoin BIP-110 Idiocracy appeared first on BeInCrypto.
Elon Musk says OpenAI turned into an $800 billion closed-source company. That is the “exact opposite” of the nonprofit he funded, he told The Economist.
The remarks came in an interview with The Economist Editor-in-Chief Zanny Minton Beddoes, recorded on Monday before OpenAI disclosed that one of its frontier models went rogue.
Musk Says OpenAI Betrayed Its Founding Mission
Why is Musk not a fan of Sam Altman? His answer was about money and mission, not personality.
“If you started a non-profit that was meant to be an open source AI company owned by the world and it somehow got turned into an $800 billion for-profit company with closed source, I think you’d be like, well, wait a second, that’s the exact opposite of what I donated the money for. That’s my issue. I think it’s a legitimate one.”
The numbers behind the grievance are on record. Musk co-founded OpenAI in 2015 as “essentially a counterweight to Google.” By OpenAI’s own account, he donated less than $45 million before leaving in 2018. He is now suing the company over its shift.
The shift is complete. On October 28, 2025, OpenAI restructured into OpenAI Group PBC, a for-profit public benefit corporation, as announced by the company.
Microsoft took a 27% stake. The company’s reported valuation has since climbed past $850 billion as it weighs an IPO.
Musk Points to Anthropic’s Exit as Evidence
Musk argued the distrust runs deeper than his own feud. He pointed to the team that quit OpenAI to build Anthropic, which he called the current leader in AI.
“The reason the Anthropic team left OpenAI is because they didn’t trust Sam [Altman]. Otherwise, Anthropic wouldn’t exist. They would still be at OpenAI.”
He praised its chief executive in rare terms. Dario Amodei “is a very principled person, and he cares about things a lot,” Musk said. No one at Anthropic has “set off my evil detector.”
The timing stings for OpenAI. The company is courting advertisers and just won US approval for its GPT-5.6 rollout. Yet Musk insisted the rivals can still cooperate on safety.
“But at the end of the day, if we have to talk, we’ll talk. I mean, set aside our personal differences for the good of the world.”
The full interview airs at economist.com Thursday evening.
The post Elon Musk Blames OpenAI for Becoming an $800 Billion Closed-Source Company appeared first on BeInCrypto.
Swiss cantonal bank BancaStato has launched regulated cryptocurrency trading through a new integration with Sygnum and banking technology provider Avaloq.
Summary
- BancaStato clients can now trade Bitcoin, Ethereum, Litecoin and Solana directly through existing banking applications.
- Sygnum provides regulated trading and institutional custody while Avaloq keeps digital and traditional assets together.
- The integration makes BancaStato the first Avaloq SaaS bank to offer API-based crypto trading services.
Clients can now buy, hold and sell Bitcoin, Ethereum, Litecoin and Solana from the bank’s existing web and mobile applications.
The service connects Sygnum’s business-to-business digital asset infrastructure directly with BancaStato’s Avaloq core banking environment. Sygnum handles crypto execution and custody, while BancaStato keeps the customer experience inside its current banking channels. The launch makes BancaStato the first bank using Avaloq’s software-as-a-service environment to offer Sygnum-powered crypto trading through an API.
BancaStato adds four cryptocurrencies to banking apps
At launch, BancaStato customers can trade Bitcoin, Ethereum, Litecoin and Solana. They can place market orders based on the amount of cryptocurrency or the U.S. dollar value they want to trade. The bank has added the service to the same web and mobile platforms clients already use for traditional banking and investments.
The setup uses Sygnum’s B2B API without requiring BancaStato to operate a separate order management system. Sygnum said this structure reduces technical complexity and allows the bank to adjust trading features while using its existing Avaloq systems. BancaStato serves customers in Ticino and has operated as a Swiss cantonal bank since 1915.
Moreover, Sygnum provides the digital asset trading infrastructure behind the service and holds customer crypto in its institutional custody system. The company said it uses hardware and software controls, governance procedures and external audits. It also holds client digital assets off its own balance sheet under the applicable legal framework.
BancaStato said the integration lets clients manage traditional and digital assets through one banking relationship. Curzio De Gottardi, head of the bank’s Products and Services Division, said:
“We are proud to partner with Sygnum Bank on this strategic initiative,” noted Curzio De Gottardi.
The bank said it plans to use Sygnum’s crypto banking infrastructure as it expands its range of investment services.
BancaStato joins Sygnum’s growing banking network
BancaStato joins more than 25 banks and financial institutions using Sygnum’s B2B platform. The network includes PostFinance, Zuger Kantonalbank, SocGen FORGE, Bordier & Cie and other financial firms. Sygnum says its partner banks give more than one-third of Switzerland’s population access to digital asset services.
The network has expanded steadily. As crypto.news previously reported, Sygnum had already onboarded more than 20 financial institutions by June 2024 to provide crypto trading, custody and related services to customers.
Sygnum’s earlier rollout with PostFinance also showed demand from customers new to investing. The company said 61% of PostFinance customers who bought crypto after its 2024 launch had not previously invested in any asset class through the institution. That experience gave the B2B model an established presence inside Swiss retail banking channels.
PostFinance later expanded its Sygnum-backed services by adding Ethereum staking.Customers gained access to the staking service through the bank’s existing digital platforms.
Sygnum has also worked with traditional banks on blockchain settlement.UBS, PostFinance and Sygnum completed a legally binding interbank payment using tokenized bank deposits on a public blockchain in September 2025.
Sygnum expands regulated bank-to-bank crypto services
The BancaStato launch follows Sygnum’s latest regulatory expansion in Europe. On June 30, Sygnum Europe said it had moved into operation under a Crypto-Asset Service Provider license issued in Liechtenstein under the European Union’s Markets in Crypto-Assets Regulation. The authorization supports its plans to provide digital asset infrastructure to banks and other clients across the EU and European Economic Area.
Sygnum has positioned its bank-to-bank model as an option for financial institutions that do not want to build crypto trading and custody systems from scratch. Its infrastructure allows partner banks to keep their customer interfaces while connecting to Sygnum through APIs. The BancaStato deployment brings that model directly into an Avaloq SaaS setup.
For Avaloq, the project adds crypto trading to a core banking environment already used for conventional financial products. Christian Haux, Avaloq’s managing director for Switzerland and Liechtenstein, said the integration allows BancaStato customers to view and manage digital and traditional portfolios in one place.
BancaStato has not announced plans to add more cryptocurrencies or other digital asset products. The initial service covers BTC, ETH, LTC and SOL. However, the bank now has a direct technical connection to Sygnum’s platform, providing infrastructure that could support additional services if BancaStato later expands its offering.
Stablecoin supply reached approximately $309.7 billion in July 2026, while Visa’s on-chain analytics recorded a 58% increase in adjusted transaction volume over the preceding 12 months.
As stablecoins also process billions of dollars during weekends beyond conventional banking hours, Payment companies have started adding them to existing financial products.
Stripe completed its acquisition of Bridge in February 2025 and later introduced stablecoin accounts across 101 countries, enabling businesses to receive fiat and crypto payments while holding dollar-denominated tokens.
XDC Tech has now integrated Bridge, giving developers on XDC Network access to fiat conversion, virtual bank accounts, and multi-currency custody.
The partnership supports business payments and stablecoin settlement today, while XDC intends to apply the same capabilities to future transactions initiated by AI agents.
XDC Prepares for Payments Initiated by AI Agents
XDC also intends to support AI agents capable of initiating payments as part of automated commercial activity.
An agent could purchase access to data, pay for another software service, or settle a fee during an automated task. Such transactions require payment systems capable of completing transfers within the same digital session, without delays associated with traditional banking hours.
XDC presents its transaction speed and low fees as suitable for this model. The network reports finality of around two seconds, with transaction costs below one hundredth of a cent.
These characteristics become more important when software initiates frequent low-value payments. A human user may tolerate several minutes of settlement time, while an automated service may need to complete payment before continuing its task.
“Every layer of finance is being rebuilt for a world where software, not just people, initiates the payment,” said Atul Khekade, co-founder of XDC Network. “This partnership gives our ecosystem stablecoin infrastructure that already meets that bar.”
Bridge Adds Regulated Banking Access
Bridge contributes the regulated services connecting bank money with stablecoins. Its products cover fiat conversion, virtual accounts, custody, and payment access across the United States, Europe, and Latin America.
This coverage allows developers to enter supported markets through an established provider rather than seeking separate licences and banking relationships in each jurisdiction. XDC and Bridge expect the arrangement to reduce product launch periods from years to weeks in some cases.
“The networks that end up mattering most for stablecoin settlement will be the ones built for speed and finality from day one,” said Mai Leduc Blount, head of product at Bridge. “XDC’s infrastructure is exactly the kind of foundation this space needs as stablecoin volumes keep climbing.”
Bridge also connects traditional payment systems with blockchain settlement. Companies can retain access to established services such as SWIFT, SEPA, and FedNow while using stablecoins to transfer value on XDC.
Finance teams can continue receiving records associated with bank payments, while developers use blockchain settlement within the product. Compliance checks, custody controls, and transaction records become part of the payment setup from the beginning.
Current Payment Products Come Before the Agent Economy
The integration provides payment and settlement services available to developers today. XDC’s plans for a larger agent-focused product suite remain at an earlier stage.
Khekade described the Bridge partnership as one element within an upcoming initiative centred on the agentic economy, although XDC has yet to provide product details or a launch schedule.
The network reached seven years of mainnet operation in June. XDC also reported more than $1 billion in tokenized real-world assets during the same period, alongside the addition of institutional validators.
These existing activities give XDC an entry point into tokenized payments before autonomous software becomes a significant source of transaction volume. Trade finance, treasury transfers, and asset distributions already require faster settlement and access across currencies.
The Bridge partnership extends these capabilities through regulated fiat access and custody. XDC’s longer-term plans depend on growth in AI agents capable of making commercial decisions and completing payments independently.
Development of this market remains at an early stage, while the payment components required to support it are entering production.
XDC is using its current stablecoin products to prepare for a future in which software initiates a growing share of financial activity.
The post Stablecoin Supply Nears $310 Billion as XDC Integrates Stripe-Owned Bridge appeared first on BeInCrypto.
Chainlink whales have increased their activity as LINK attempts to recover from a broader market decline, with large holders reportedly accumulating more than 14 million tokens in less than a month.
Summary
- Chainlink whales accumulated over 14 million LINK as large transactions increased sharply during recent weeks.
- LINK trades near $8.54, with improving RSI and MACD signals supporting its latest recovery attempt.
- Falling exchange reserves reduce available selling supply, though LINK must reclaim $9–$10 for stronger momentum.
LINK traded near $8.54 at the time of writing, down about 0.6% over the past 24 hours. The token had a market capitalization of roughly $6.39 billion and daily trading volume of about $175.24 million. Its 24-hour trading range stood between $8.53 and $8.72, according to crypto.news market data.
Chainlink whale activity rises as large holders accumulate LINK
Onchain data shared by crypto analyst Ali Martinez showed that Chainlink whale activity had increased over the past two weeks. More than 20 transactions valued above $1 million each were recorded during one recent session, which Martinez described as evidence of “growing interest from large holders.”
Separate data shared by the analyst showed that large holders accumulated more than 14 million LINK in less than a month. Their combined holdings reportedly rose from below 170 million tokens to around 182 million to 183 million LINK during the period.
Whale accumulation can reduce available market supply when holders keep their tokens rather than moving them to exchanges, but it does not guarantee that prices will rise.
The latest activity follows earlier accumulation seen across the Chainlink network. Wallets holding more than 1,000 LINK recently reached their highest level of the year, while addresses controlling at least 100,000 LINK rose to a record 805, as previously reported.
LINK price shows short-term recovery signals
The daily chart shows LINK trading inside a broader downtrend after falling from earlier highs near $26–$28. The token has spent recent months largely moving within the $7–$10 region as buyers and sellers compete around the lower end of its longer-term range.
Short-term technical indicators have improved. The MACD line stood near 0.1866, above its signal line at about 0.1267, while the positive histogram pointed to improving momentum. The relative strength index was near 60.43, above both the neutral 50 level and its moving average of about 58.31.
The readings suggest buyers have gained some control without pushing LINK into overbought territory. However, price still faces resistance between $9 and $10. A sustained move above that area could strengthen the recovery structure, while another rejection may keep LINK inside its current consolidation range.
Recent price action has followed a similar setup. LINK rose after Mantle moved its $2.5 billion Super Portal to Chainlink’s Cross-Chain Interoperability Protocol.
Falling exchange reserves tighten available LINK supply
Chainlink exchange reserves have also moved lower, according to CryptoQuant data. The total has fallen to about 125.4 million LINK, compared with levels commonly ranging between roughly 165 million and 190 million during parts of 2024 and 2025.
Lower exchange balances can mean fewer tokens are immediately available for sale. However, declining reserves alone do not prove that demand will increase. LINK continues to trade near the lower part of its multi-year price range, so stronger buying pressure would still need to appear in the price structure.
Derivatives data also presents a mixed picture. CoinGlass data showed trading volume rising 1.95% to about $233.74 million, while open interest slipped 0.91% to roughly $445.28 million. The combination suggests more trading activity without a matching increase in outstanding leveraged positions.
Chainlink has seen similar periods of tightening supply before. Declining exchange reserves and whale purchases have repeatedly formed part of the bullish case for LINK, though price performance has not always followed immediately.
Chainlink ecosystem activity supports the broader market case
Chainlink continues to expand its role in blockchain infrastructure despite LINK’s weak longer-term price performance. Santiment has ranked the network among the leading real-world asset projects by development activity, placing it alongside Hedera at the top of the sector in recent rankings.
Institutional integrations have also continued. Mantle recently migrated its $2.5 billion Super Portal to Chainlink CCIP, while Aave selected Chainlink infrastructure for automated vault rebalancing. The number of Ethereum wallets holding LINK has also passed 900,000.
Meanwhile, U.S. investors now have regulated exchange-traded exposure to LINK. According to SoSoValue data, U.S. spot Chainlink ETFs recorded $2.68 million in net inflows on July 22, lifting cumulative net inflows to $127.83 million.
Total trading volume reached $2.99 million for the day, while total net assets stood at $114.78 million. The first U.S. Chainlink ETF received approval to trade on NYSE Arca in December 2025, expanding institutional access to the asset.
Some analysts have set much higher long-term targets. Crypto Patel has pointed to continued ETF demand and suggested LINK could eventually reach between $50 and $100 during another strong market cycle. Those targets remain analyst projections rather than confirmed price outcomes.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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