Crypto Market Update: Senate Republicans Release Updated CLARITY Act

Bitcoin price update

Bitcoin (BTC) was priced at US$65,826.33, down by 0.4 percent over the past 24 hours.

Bitcoin price chart

In their latest analysis, Bitfinex researchers maintain that Bitcoin's recovery to the US$66,990 level was driven by a lack of sellers and derivatives positioning rather than fresh capital.

“A market that climbs on thin participation can travel quickly in either direction, because there is little resting liquidity to absorb a shift in flow,” analysts said in an emailed statement.

“The 30-year bond is still above five percent, telling us the market’s inflation concerns haven’t gone away even after last week’s soft print. Bitcoin rose alongside a firmer long end rather than in response to falling yields, which tells us the advance is positioning-led and crypto-internal rather than a bet on easier policy.”

Ether and altcoin price update

• Ether (ETH) was priced at US$1,924.38, trading 0.7 percent higher over the last 24 hours.

• XRP (XRP) was priced at US$1.14, trading 1.1 percent lower over the past 24 hours.

• Solana (SOL) was trading at US$77.50, trading 0.1 percent lower over the past 24 hours.

Today's crypto news to know

Read on for a round-up of the biggest crypto market news:

• Republicans release new draft of CLARITY Act
• Satsuma shareholders vote to liquidate Bitcoin treasury and delist
• Mallers departs Twenty One Capital
• Augustus secures US$180 million Series B to construct clearing bank
• Talos brings prediction markets onto institutional trading infrastructure

Republicans release new draft of CLARITY Act

Senate Republicans released an updated CLARITY Act after stakeholder briefing calls on Wednesday morning, potentially clearing a major obstacle to Senate consideration of the crypto market-structure bill.

This development follows multiple reports on Tuesday (July 21) that said President Trump agreed to an ethics package tied to the Act that would restrict federal officials from profiting from digital assets while in office. The exact final language was not publicly released.

However, according to Terrett, the latest draft, which also includes 25 new sections addressing law-enforcement concerns and a safe harbor for non-custodial developers, adds a White House-backed ethics package with DOJ-only enforcement - rather than state attorneys general - and a sunset on January 20, 2029.

The package would bar federal officials, including presidents, vice presidents and members of Congress, as well as their spouses, from issuing or sponsoring digital assets for consideration while in office,

The draft also prohibits exchanges from listing assets tied to those violations.

That agreement may give the bill its last chance to move before the Senate’s summer calendar runs out.

Satsuma shareholders vote to liquidate Bitcoin treasury and delist

Shareholders of UK-based Satsuma Technology voted to liquidate the company's entire US$43.5 million Bitcoin treasury and shut down operations, sources told BitcoinTreasuries.NET.

Over 90 percent of voting shareholders backed resolutions to sell 668 BTC and cancel the firm's London Stock Exchange listing, overruling four of six board members.

The firm originally began as an AI startup named TAO Alpha before rebranding in August 2025 and hiring Bitcoin commentator Mark Moss as Chief Bitcoin Strategist. That same month, Satsuma raised US$218 million through convertible notes from institutional investors.

Following a steep decline in Bitcoin prices from the October 2025 peak of $126,000, Satsuma's stock crashed over 99 percent by April 2026, prompting Pantera Capital to demand full liquidation.

The company previously sold 579 BTC for £40 million in December 2025 to cover debt repayments after its CFO and CEO both departed in early 2026. Satsuma will distribute between £26.8 million and £30 million in remaining cash to shareholders through a UK legal mechanism called a "B Share Scheme."

Estimated termination costs of £2.7 million for legal fees, severance, and delisting charges will further shrink total recovered capital to around £66–£70 million against the US$218 million originally raised.

UK High Court hearings will review the capital return in August and September 2026 ahead of a mid-September delisting.

Mallers departs Twenty One Capital

Jack Mallers announced he is stepping down as CEO of Twenty One Capital, triggering a 15 percent single-day stock plunge for the NYSE-listed Bitcoin treasury firm.

Mallers co-founded the firm alongside stablecoin issuer Tether and took the company public via a SPAC merger in December 2025. The leadership exit accompanied news that Tether's proposed mega-merger uniting Twenty One, payments platform Strike, and mining firm Elektron Energy officially collapsed.

Tether originally pitched the consolidation in April 2026 to create a single publicly traded entity spanning mining, payments, and corporate treasury management. Strike will now remain an independent standalone company, while Twenty One and Elektron Energy continue early talks regarding a potential two-way deal.

Twenty One currently holds 43,514 BTC worth over US$4 billion on its balance sheet, ranking second among public corporate Bitcoin holders behind Strategy.

Elektron Energy founder and former Wall Street executive Raphael Zagury replaced Mallers as CEO of Twenty One Capital.

Augustus secures US$180 million Series B to construct clearing bank

Financial technology startup Augustus raised US$180 million in a Series B funding round at a US$1 billion valuation to construct a stablecoin-ready clearing bank.

The capital injection brings total funding for Augustus to us$210 million as the startup targets traditional cross-border correspondent banking infrastructure.

Instead of issuing a proprietary stablecoin, Augustus builds API-first software that settles transactions across traditional rails like Swift, ACH, and SEPA alongside public blockchain networks.

The startup operates its proprietary core banking system called Marble, deploying artificial intelligence across back-office operations to deliver 24/7 settlement capabilities.

The Office of the Comptroller of the Currency granted Augustus conditional approval for a US national bank charter in May 2026.

Talos brings prediction markets onto institutional trading infrastructure

Trading platform Talos is integrating with Kalshi to provide institutional-grade capabilities, such as algorithmic and block trading, to regulated prediction markets, satisfying the growing demand for 24/7 tools to manage risk and express macro views.

“Prediction markets and US-onshore perpetuals are emerging as important institutional markets and require institutional-grade tools to support participation. Kalshi’s regulated clearing structure gives institutions a similar framework they use in traditional options and futures markets. Talos is launching two major capabilities to bring familiar tooling to their workflows,” the company said in a press release sent to INN.

The partnership leverages Kalshi’s status as a CFTC-regulated exchange to provide a secure venue for institutions. Talos intends to expand these services by enabling brokers and trading platforms to offer Kalshi event contracts to end customers and by providing a harmonized market data feed for prediction markets via their existing API.