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Sen. Lummis Seeks CLARITY Vote Before August Recess

The Senate’s window to pass a comprehensive cryptocurrency market-structure bill is narrowing fast, with the chamber scheduled to enter its August recess within days and lawmakers still not clearly signaling a vote date. The pending legislation is the Digital Asset Market Clarity (CLARITY) Act, a proposal that has already cleared the House and now requires the right combination of timing and votes in the Senate. Senator Cynthia Lummis said in an X post on Wednesday that she expects the Senate to hold a vote on CLARITY before it breaks for its month-long recess. With that deadline approaching, the central question for traders, platforms, and crypto-linked businesses is whether the bill can overcome a 60-vote procedural hurdle—without further amendments that could broaden political resistance. Key takeaways Sen. Cynthia Lummis said she expects a Senate vote on the CLARITY Act before the August recess begins. Senate Democrats’ public schedule showed no vote set for CLARITY as of Wedne...
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Western Union Adds Stablecoin Remittances on Visa via Stablecard

Western Union is taking a major step deeper into blockchain-based payments with the launch of Stablecard , a Visa-branded digital wallet and card that lets users hold, transfer, and spend a US dollar-backed stablecoin. In an announcement this week, Western Union said Stablecard will support USDPT , a US dollar-pegged stablecoin issued by Anchorage Digital Bank and deployed on the Solana blockchain. The service is designed for remittance recipients and users who want to park value in a dollar-denominated digital asset while still using everyday card payment rails. Key takeaways Western Union Stablecard enables users to hold, receive, transfer, and spend USDPT via a Visa-branded card. The wallet starts in 37 markets , with Western Union targeting expansion to more than 60 markets by year-end. Stablecard is positioned for cross-border users who face currency volatility, offering a way to save in dollars and spend through existing payment networks. The product supports on-ramp-...
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Michigan House incumbent falls in GOP primary after $2M PAC backing

Michigan’s 13th Congressional District Democratic primary delivered a high-profile rebuke of an incumbent widely seen as friendly to the cryptocurrency industry. State Rep. Donavan McKinney defeated two-term U.S. Rep. Shri Thanedar, winning 51.9% of the vote to Thanedar’s 48.1%, according to The New York Times . The race became a focal point for criticism that crypto-aligned political spending was aimed at rewarding incumbents. The campaign also underscored how crypto-backed political action committees (PACs) continue to invest heavily in state-level primaries ahead of the November general election. Key takeaways Donavan McKinney won Michigan’s 13th District Democratic primary over incumbent Shri Thanedar, 51.9% to 48.1%, per The New York Times . A crypto-backed PAC, spending over $2 million on media, supported Thanedar in an attempt to secure his re-election. McKinney’s campaign framed the contest as “payback” from the industry, citing Thanedar’s pro-crypto legislative record an...
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CryptoQuant: Whales Accumulate as Late-Stage Bear Market Looms

Large “smart money” holders are adding to their Bitcoin and Ether positions as crypto valuations drift toward levels commonly associated with late-stage bear markets, according to CryptoQuant’s latest Smart Money report, reviewed by Cointelegraph. The blockchain analytics firm argues that the key signal is not just that whales are holding more, but that their balances have continued to rise during price weakness—an accumulation pattern that, historically, can line up with market bottoms even though it does not guarantee an immediate reversal. Key takeaways CryptoQuant says Bitcoin whale balances (excluding exchanges and mining pools) rose to about 3.06 million BTC, up from roughly 2.87 million BTC in December 2025. The firm links the acceleration in Bitcoin accumulation to a period after BTC fell below $60,000 in June. For Ethereum, wallets holding 10,000–100,000 ETH collectively reached a record 19.6 million ETH, while very large holders added around 1.8 million ETH since mid-20...
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Gold Climbs to Six-Week Highs on China Demand as Bitcoin Lags S&P 500

Bitcoin traded largely unchanged near the $64,000 level at the start of the Wall Street session on Wednesday, showing little follow-through despite a broad risk-on push in traditional markets. The muted action stood in contrast to gold’s renewed strength, as the precious metal climbed to its highest levels in about six weeks. While US equities continued to build on recent record highs, investors appear to be treating Bitcoin more cautiously—at least for now—amid signals that have to line up before a durable rebound can take hold. Key takeaways BTC held steady around $64,000 as gold rose 2.8% to $4,213 per ounce, its highest since June 22. Gold’s strength has been linked to Chinese demand, including reported inflows into China-based gold-backed ETFs. US stocks maintained momentum, with the S&P 500 reaching 7,793 and a majority of constituents trading above their 50-day moving average. Bitcoin’s recovery still appears contingent on multiple factors, including spot Bitcoin ETF...
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Coldcard Attacks Prompt Questions Over Hardware Wallet Security

Coldcard has disclosed an entropy-generation flaw that affected multiple versions of its hardware wallets, prompting firmware updates and a fund-migration warning for users. The issue, first raised by Coinkite on July 31, has since been linked by Galaxy Digital researchers to thefts exceeding 1,596 BTC—reported as at least $100 million—via coordinated attacks. The incident is a reminder that even long-established hardware wallets can fail at the most foundational step of self-custody: producing the randomness used to generate private keys. It has also reignited a broader debate in the industry over how wallets prove to users—technically and practically—that their entropy sources remain secure in production. Key takeaways Coldcard attributed the problem to a specific fallback path in seed generation that could produce weak entropy on-device firmware, affecting certain firmware versions. Galaxy Digital researchers say attackers exploited the weakness to steal more than 1,596 BTC thr...
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Mastercard Trial Enables Identity Checks for Borderless Stablecoin Transfers

Mastercard and stablecoin orchestration network Borderless are launching a pilot focused on improving cross-border stablecoin payments using Mastercard’s Crypto Credential standards-based framework. The initiative, announced in coordination with Cointelegraph, will test whether Mastercard’s approach can generate assurance signals that market participants can plug into their own approval, compliance, and risk workflows—potentially reducing friction where verification responsibilities often become fragmented across counterparties. Key takeaways Mastercard and Borderless will trial how Crypto Credential standards can produce governance and verification signals for cross-border stablecoin payments. The pilot is designed to help participants incorporate assurance signals into their internal approval, compliance, and risk processes. Borderless frames compliance and trust between parties as the key bottleneck, comparing it to how correspondent banking historically handled assurance. M...
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