Scaramucci Fires Back at Crypto Critics as Bitcoin Volatility Looms

Crypto news this week includes Anthony Scaramucci's response to the CLARITY Act's delay, World Liberty Financial securing a conditional bank charter, and Bitcoin's low liquidity levels sparking market concerns.

Scaramucci, founder of SkyBridge Capital, clapped back at actor-turned-crypto-critic Ben McKenzie after McKenzie celebrated the bill's failure. Scaramucci insisted nothing can stop Bitcoin, while McKenzie argued that the bill would weaken oversight by shifting regulation from the SEC to the CFTC without ethics provisions covering officials' crypto holdings.

World Liberty Financial, co-founded by members of the Trump family, secured a conditional approval for a national trust bank charter through World Liberty Trust Co. The charter allows the firm to issue stablecoins directly instead of relying on third-party provider BitGo. Sen. Elizabeth Warren called the approval 'the most brazen act of self-dealing' she's seen and pledged legislation to curb it.

Binance's perpetual futures trading volume hit its sixth-lowest daily level in five years, while spot trading volume measured in BTC fell to its lowest level since 2019. Analysts say low liquidity has historically been followed by large market moves.