Secretary Scott Bessent warned that failing to pass the CLARITY Act would send a “troubling signal” about America’s leadership in the digital asset industry. US Treasury Secretary Scott Bessent urged lawmakers to pass the Digital Asset Market Clarity (CLARITY) Act when the Senate returns from its August recess next week. “I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process,” wrote Bessent in a Wednesday X post, warning that failing to pass the bill would send a “troubling signal” about America’s leadership in the digital asset industry. The Senate is scheduled to return from its August recess next Monday, according to its legislative schedule. The CLARITY Act seeks to establish the first comprehensive regulatory framework for digital assets in the US. Read more
Nansen found a $117,800 unrealized loss in one wallet as the team announced liquidity incentives and Bubblemaps flagged fresh top holders. Hunter Biden has denied profiting from his LAPTOP memecoin after its launch-day price crash, adding that neither he nor his team had sold tokens. Several X users accused the LAPTOP project of a “rug pull” after the memecoin lost more than 95% of its value in the first hour of trading on Wednesday. At the time of writing, the new token traded at $0.8562, according to CoinGecko data. “The team’s allocation is locked. Nobody on our side sold, and nobody could have,” Biden said in an X post Wednesday. “I, personally, have not made a single dollar.” Read more
ARKB led Wednesday’s Bitcoin ETF outflows as Ether and Solana funds returned to net inflows. US-listed spot Bitcoin exchange-traded funds (ETFs) recorded $120.2 million in net outflows on Wednesday, bringing withdrawals across the first two sessions of the holiday-shortened week to $166.8 million, according to Farside Investors data. The ARK 21Shares Bitcoin ETF (ARKB) led Wednesday’s withdrawals with $78 million, followed by Grayscale’s Bitcoin Trust ETF (GBTC) with $27.2 million and BlackRock’s iShares Bitcoin Trust ETF (IBIT) with $19.5 million. Morgan Stanley’s Bitcoin Trust (MSBT) was the only fund to record inflows, adding $4.5 million. Wednesday’s withdrawals followed $46.6 million in net outflows on Tuesday, marking the category’s first back-to-back outflow days since a three-day run ended on Aug. 14. Across the two sessions, GBTC lost $92.7 million, while ARKB and IBIT recorded net redemptions of $69.9 million and $8.8 million, respectively. Read more
Bitcoin investors showed little sign of panic selling as BTC held most of its August gains and sell-side risk fell to rare lows, data showed. Bitcoin (BTC) sell-side risk remains near historic lows as August profit-taking cools, new data shows. Key points: In the latest edition of Glassnode’s The Week Onchain newsletter, the crypto analytics platform said Bitcoin’s sell-side risk ratio (SSRR) had reset lower. Read more
The system will combine farmer, grain, warehouse, insurance and loan data for lenders, though no launch date or initial deployment size was disclosed. Indian agricultural warehousing and lending company Arya.ag is testing a system to tokenize warehouse receipts for stored grain on a dedicated Avalanche layer-1 blockchain. Arya.ag is working with Finternet to connect grain deposits, warehouse receipts, collateral commitments and loan status through the network. Devika Mittal, Ava Labs’ head of India, told Cointelegraph that testing was underway and said each tokenized receipt would represent ownership of the stored commodity. The companies did not disclose an expected launch date or how much grain or lending the initial deployment would cover. Read more
The complaint says Uniswap’s counsel sent three letters before Unicoin’s Sept. 28 launch and seeks declarations on its marks and domains. TransparentBusiness Inc., which does business as Unicoin, sued Universal Navigation Inc., which does business as Uniswap Labs, in the Southern District of New York, seeking declarations that its UNICOIN mark does not infringe or dilute Uniswap’s claimed marks. TransparentBusiness argued in a complaint filed Tuesday that its UNICOIN mark does not infringe or dilute Uniswap’s claimed UNI, UNISWAP and UNICHAIN marks. It also asked the court to cancel US trademark registration for UNI. The complaint says Uniswap’s counsel sent three demand letters on June 3, July 17 and Aug. 14, accusing Unicoin of trademark infringement, dilution, cybersquatting and unfair competition, and threatening further legal action. The letters demanded that Unicoin stop using UNICOIN and other UNI-formative marks, transfer its unicoin.com and unicoin.org domains, provide an accounting of revenue and pr...