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The CLARITY Act has passed the U.S. Senate Banking Committee.
Beijing News reports that on Thursday, the U.S. Senate Banking Committee passed the Clarity Act by a vote of 15 to 9, marking the first large-scale regulatory legislation targeting the cryptocurrency industry. The bill received support from all Republican members and Democratic Senator Ruben Gallego on the committee. The bill still needs to pass a full Senate vote and House consideration before being signed into law by U.S. President Trump.
Committee Chair Tim Scott said the bill aims to provide clear regulatory guidance and standards for the crypto industry, reducing uncertainty for developers and investors. Institutions such as Coinbase, Circle, Ripple, and Andreessen Horowitz have expressed support for the bill. Banks, law enforcement agencies, and labor organizations have opposed it, expressing concerns that it could undermine financial system stability or lead to an increase in illicit financial activity. The White House has also been actively involved in negotiations between banks and crypto groups.
Trump's hundreds of millions of dollars in securities trading records exposed; purchases include NVIDIA and Apple-related securities
Beijing News reports that two newly released financial disclosure documents published by the U.S. Office of Government Ethics on Thursday local time show that Trump disclosed financial transactions worth at least $220 million earlier this year, involving securities from multiple major U.S. companies. The newly disclosed filings cover the first quarter of 2026, with aggregate transaction values ranging broadly between $220 million and approximately $750 million. Major purchases with individual values between $1 million and $5 million include S&P 500 index funds, NVIDIA, and Apple. Major sales with individual values between $5 million and $25 million include Microsoft, Amazon, and Meta.
The filings do not always specify the exact type of securities involved, such as whether they are stocks or corporate bonds, nor do they indicate which accounts the transactions occurred in or who placed the trade orders. These disclosure documents are mandatory but only partially reflect officials' financial activities, as they list only transactions exceeding $1,000 and present them in broad dollar ranges, without disclosing specific execution prices, profits, or whether assets were purchased directly or held through custodial accounts. Trump’s assets are held in trusts controlled by his children, and some of the transactions in the new filings show that brokers acted as agents.
The Bitwise Hyperliquid ETF will list on the New York Stock Exchange this Friday.
Bitwise’s Hyperliquid ETF will begin trading on the New York Stock Exchange this Friday under the ticker BHYP. Previously, 21Shares’ Hyperliquid ETF (THYP) launched on Tuesday, recording approximately $1.8 million in trading volume on its first day. BHYP will be the first U.S. fund to offer Hyperliquid staking yields, with staking operations conducted through Bitwise’s subsidiary, Bitwise Onchain Solutions. 21Shares also stated plans to stake the majority of its HYPE holdings. Hyperliquid is currently the leading on-chain perpetuals exchange and is expanding into tokenized commodities and spot crypto trading. Its native token, HYPE, is used for platform fee payments and has consistently ranked among the top 15 crypto assets by trading volume.
JPMorgan: If on-chain activity remains weak, ETH and altcoins may continue to underperform Bitcoin
Beijing News reports that JPMorgan analysts say that despite a general recovery in the crypto market following the Iran conflict, Ethereum and other altcoins continue to underperform Bitcoin. This trend, which has persisted since 2023, is unlikely to reverse in the short term unless there is a noticeable improvement in network activity, DeFi, and real-world applications.
The report indicates that, based on spot ETF fund flows and institutional futures positioning, Bitcoin's recovery has been stronger than Ethereum's. Spot Bitcoin ETFs have recovered about two-thirds of their previous outflows, while spot Ethereum ETFs have only regained about one-third.
Meanwhile, CME futures data shows that institutional investors are more aggressively rebuilding their exposure to Bitcoin, with Bitcoin futures open interest nearing full recovery, while Ethereum futures open interest remains below previous levels. J.P. Morgan believes that ETH and altcoins may continue to underperform Bitcoin due to a lack of stronger on-chain fundamentals and real-world use cases.
AI chipmaker Cerebras Systems saw its stock nearly double on its first day of trading, surpassing a $100 billion market capitalization.
Beats News: On its first day of trading on Nasdaq Thursday, AI chipmaker Cerebras Systems saw its stock price surge, opening at $350—far above the company’s previously expected offering price range of $185 per share—pushing its market capitalization above $100 billion.
The company issued 30 million shares on Wednesday evening, raising $5.55 billion, the largest IPO by a U.S. tech company since Uber's listing. The company went public in 2019, and if underwriters exercise their option to purchase an additional 4.5 million shares, total proceeds could reach $6.38 billion.
OpenAI is collaborating with a law firm to prepare a lawsuit against Apple.
BitPush News, Market Update: Apple (AAPL.O)’s partnership with OpenAI has become strained, potentially leading to legal conflict. OpenAI is working with law firms to prepare action against Apple.
This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
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