Crypto
Crypto Sentiment Turns Cautious as Senate Delays Clarity Act Vote
The US Senate has pushed back its vote on the CLARITY Act to mid-September. Meanwhile, spot Bitcoin ETFs have experienced a sharp outflow of $144 million.
Cryptocurrency sentiment has turned cautious across the board, with most major coins experiencing significant declines in value over both weekly and yearly timeframes. Bitcoin is down 27% on the year, while Ethereum is down 36%. Solana and XRP have seen even steeper declines of around 40-45%.
On a more positive note, several institutions are making moves into the crypto space. BNY Mellon has announced a crypto staking partnership with Galaxy Digital, while Tether has launched its Hadron platform to tokenize institutional real estate in Saudi Arabia.