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Bitcoin Surges on Trump's Call for Clarity Act Passage

Guavy AI Editorial Team
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Bitcoin's price surged on Thursday after US President Donald Trump called for Congress to pass the Clarity Act, a regulatory bill aimed at establishing a broad framework for cryptocurrencies in the United States.

The move sparked a recovery rally in cryptocurrencies, with Bitcoin rising by 7.9% to $69,387.7. The world's largest cryptocurrency also hit a near-three-month high of $69,861.4 before falling short of breaking above $70,000.

Trump's call for the Clarity Act comes amid growing scrutiny over how his family's crypto ventures have profited from pro-crypto regulation under his second term. Filings in July showed Trump received more than $1.4 billion from his family's crypto ventures.

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