- Bitcoin trades near $65,771 as the crypto market cap holds near recent levels.
- Senate’s 616-page Clarity Act text bans officials from issuing digital coins.
- South Korean crypto volumes fall 89% as capital rotates into a surging KOSPI.
Bitcoin traded near $65,771, down 0.82% over the past 24 hours but still up 1.88% for the week, while Ethereum held around $1,926, roughly flat on both counts. XRP traded near $1.13, Solana stood at $77.60, and Hyperliquid’s HYPE token fell 3.25% to $58.83.
Total crypto market capitalization stood essentially unchanged, with the Fear & Greed Index at 39, back in “fear” territory after briefly touching neutral, while the Altcoin Season Index eased to 51.
Trending Searches
Zama led trending searches with a 27.9% daily surge, followed by o1.exchange, up 20.7%, and Lorenzo Protocol, which jumped 41.4%. The sharp gains across all three trending names point to concentrated speculative rotation into smaller tokens even as majors traded in a narrow range.
Senate Releases Clarity Act Text
Senate Republicans published a 616-page version of the Clarity Act, adding an ethics provision that bars public officials and their spouses from issuing or sponsoring digital assets while still permitting personal investment, with mandatory disclosure of crypto sales above $1,000.
The provision includes a sunset clause expiring January 20, 2029, and designates the Department of Justice as sole enforcer, a point Democrats continue to contest. Senator Cynthia Lummis said the text remains under discussion over the weekend and is not final, while Elizabeth Warren argued the language barely touches Trump’s crypto holdings.
Senate Majority Leader John Thune said he plans to bring the bill to a vote as early as next week even without Democratic agreement.
Twin Exploits Hit DeFi Protocols
B² Network on BNB Chain was attacked, with roughly $3.86 million in tokens stolen, swapped to WBNB, and routed toward Zcash via NEAR Intents. Hours later, Arbitrum ecosystem protocol AFX suffered a cross-chain bridge exploit resulting in approximately $24.15 million in stolen USDC; Arbitrum co-founder Steven Goldfeder confirmed the native bridge itself was unaffected, with the breach isolated to the third-party protocol.
South Korean Capital Rotates Into Equities
Trading volumes across South Korea’s five major crypto exchanges have fallen 89% year-over-year as the KOSPI index rallied 114%, pulling retail investors toward the booming stock market. The shift underscores how strongly domestic capital has favored equities, particularly AI-linked chipmakers, over crypto in recent months.
Institutional Activity Continues
BNY Mellon said it plans to support 24/7 US Treasury settlement by 2027, with a tokenization pilot on its private blockchain launching by year-end. Revolut’s valuation climbed to $115 billion in an employee share sale, making it Europe’s most valuable private company, while Alphabet reported Q2 revenue of $119.8 billion, with Google Cloud revenue surging 82% amid heavy AI infrastructure investment.
Tesla kept its Bitcoin holdings unchanged at 11,509 BTC for a fourth straight year, recording a $112 million impairment loss tied to the quarter’s price decline.
Security and Legal Developments
CertiK reported 52 confirmed violent “wrench attacks” against crypto holders in the first half of 2026, a 33% year-over-year rise, with associated losses totaling roughly $124 million. Separately, the SEC and Coinbase settled a years-long records dispute stemming from former Chair Gary Gensler’s tenure, with the agency agreeing to release previously undisclosed documents.
Related: White House Accuses Chinese AI Firm Moonshot AI of Distilling Anthropic Models to Build Kimi K3
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
