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Crypto News
Bitcoin Near $70,000, Ethereum, XRP, Dogecoin Pop as Crypto Hits 'Greed' Mode
Leading cryptocurrencies jumped to their multi-month highs as investors parsed CLARITY Act optimism and other macro developments.
Bitcoin surged nearly 8% to touch $70,000, reaching its highest level since early June. Trading volume erupted 161% over the last 24 hours, indicating high buying pressure.
Ethereum soared to levels not seen since May 12, while trading volume exploded by 346%. XRP and Dogecoin also recorded sharp spikes.
Cryptocurrency-related stocks also soared, with Strategy Inc. and Bitmine Immersion Technologies Inc. closing up 12.68% and 10.72%, respectively.
Growing optimism around a September passage of the CLARITY Act lifted the market and cryptocurrency-adjacent equities.
Trump Calls for Congress to Pass Crypto Bill at White House Event
U.S. President Donald Trump on Wednesday called on Congress to pass a bill that would bring clearer definitions to the growing cryptocurrency sector, a top priority for industry executives who had gathered for an event at the White House with the president.
Trump, who has earned more than $1.4 billion from his family's crypto ventures, urged lawmakers to pass a "fair version of the Clarity Act," a bill that crypto companies say would put them on solid legal ground, but has stalled in the Senate with little time left on the congressional calendar.
Trump Opens Door to Hyperliquid as US Pulls Crypto Trade Onshore
President Donald Trump said US regulators are working to bring Hyperliquid, a fast-growing crypto platform, into the country, offering one of the clearest signals yet that the White House wants to pull a major piece of the industry’s offshore market infrastructure onshore.
“I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion. Working very hard on that,” Trump said at a White House event, referring to Commodity Futures Trading Commission Chairman Michael Selig.
SEC Unveils Crypto Plan as Agency Moves Ahead on Digital Assets
The Securities and Exchange Commission unveiled a proposal to exempt certain digital asset offerings from securities registration statements, as the regulator moves ahead with crypto plans after landmark legislation stalled in Congress.
Offerings up to $5 million would be exempted for four years and offerings up to $75 million would be exempt for 12 months, according to an agency release. Issuers under the second exemption would be required to provide financial statements and meet ongoing reporting requirements, according to the more than 400-page proposed rule.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Wednesday was $517.19 million. The total net asset value of Bitcoin spot ETFs is $84.31 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.08%.
The Bitcoin spot ETF with the highest net inflow on Aug 19 was iShares Bitcoin Trust, with a net inflow of $284.74 million, according to SoSoValue.