Clarity Act Crypto Legislation Nears Senate Vote as Major Financial Giants Offer Support

Legislating always comes down to some sort of emergency. We are in that emergency deadline period. The walls are closing in on crypto as the industry enters its final hours for Senate to take up the Clarity Act on the floor and eventually pass Clarity Act before midterms. Yet, time is running out. Will Congress be able to pass the Clarity Act in time? We've been keeping you updated on this all week and there is more to the story today. As in a surprising move, a last-ditch effort of sorts, some of the biggest names in global finance managing a combined 50 trillion all coming out of the woodwork, all coming together to support the Clarity Act. And really quick, before we continue, just 30 seconds, I need to make you aware of three huge promotions from channel

partner OKX. Use my link below and start trading on OKX and you can be eligible for these three promotions. Number one, new user bonus, $500 in Bitcoin for new users. Number two, RLUSD deposit match. Deposit any crypto or cash and get a 5% match paid in RLUSD. And number three, RLUSD earn savings offer. Hold RLUSD on OKX and earn 3.5% APY automatically. No staking, no opt-in, no lock-up. Rewards hit your account every week in either RLUSD or XRP. You choose your reward. Make an account on OKX today and start trading. Use my link below to be eligible for all special promotions. Fidelity urging Senate to pass the Clarity Act writing, "The time is now for clear rules of the

road that are essential to strengthening investor confidence, providing certainty for market participants, and reinforcing US leadership in the global digital asset markets. Charles Schwab, much like BlackRock, much like Goldman Sachs, used to be a huge skeptic, now competing for market share, launching some of the biggest crypto products in the US. 13 trillion assets under management, Charles Schwab says the Clarity Act is a, quote, really important fundamental catalyst that needs to pass. So, perhaps the biggest piece of irony is that the reason the Crypto Clarity Act isn't going to pass seems to be directly related to the crypto president himself.

Bitcoin is going to the moon, as we say. It's going to the moon. I want America to be the nation that leads the way, and that's what's going to happen. No, you're going to be very happy with me. It is common knowledge at this point, many people are reporting, it seems to be that President Trump's crypto ventures are the biggest obstacle to passing the Clarity Act. Crypto OG Travis Kling characterizes the irony of this whole situation very well, writing six points. Number one, Trump was elected as the crypto president. Number two, Trump pulls in 1.4 billion in crypto profits in 25 from what he characterizes as grifts, scams, and

bribes. Three, crypto legislator gets literally to the one-yard line in Senate, so close to passing. Four, Dems are so pissed at how egregious the Trump grift, scam, bribes are that they want real teeth in the ethics provision of the bill. Five, Trump refuses, only agrees to super light ethics provisions. Six, the bill can't pass. Crypto legislature dies on the floor. The crypto president clears 1.4 billion in crypto grifts, scams, bribes in one year and doesn't pass a crypto bill, honestly exactly what the crypto industry deserves. The night is always darkest before the dawn. Before we get to this bullish news, let me share with you my final thoughts at the moment for if Clarity Act passes.

And don't take my word for it, take it from two people who know, representatives of the Solana Policy Institute and DeFi Education Fund, two crypto lobbying groups who want to get pro crypto legislation passed. Now, it surprises me in this clip, they say an emergency last-minute thing could still happen in literally the final hour that pushes it to the Senate floor to get voted on. They're still bullish in this clip. However, they admit if it fails to get to the Senate floor and pass in the next couple weeks, the next realistic chance is sometime in 2030. So, either some emergency situation happens in the next week, which is 100% possible, or US crypto holders wait until 2030s.

I am more optimistic than Adrian because I think legislating always comes down to some sort of emergency. And we are in that emergency deadline period and I completely agree with Adrian. I think that there will be changes particularly to the act title between now and a floor vote to earn Democrats' support. But I think that wasn't going to happen without the time pressure of floor deadline. So, I think you know, the bill text released on Wednesday to a certain extent was a starting gun, not the finish line. And I think right now the negotiations between Senate Republicans and Democrats are ongoing to secure their support going into the floor. So, I am more hopeful and um I perhaps have a bit of opium because uh

to answer one of your questions from the top, I think if it doesn't pass out of the Senate in the next few weeks, then uh the next realistic I suppose I don't know when the next realistic chance we'll have is, but uh certainly will be sometime in the 2030s. Yeah, I agree with that. Um I think that uh there is no legislation without compromise. We have actually made a lot of compromises along the way. If you think about what the September banking draft looked like of this bill for uh from then to now, there have been 25 provisions added to make sure that we address illicit finance and law enforcement concerns on the Senate banking side.

Um I you know, I take Adrian's point on the Senate agriculture side, but as Miller said, um I think the time is now to make compromises if we're going to make any, but um I really do think that there are things in this bill that should make any person who wants to see good regulation in the digital asset space happy. Um I don't think that there is I don't think that the Senate Ag um has some partisan bill that no Dem should support. Like I don't think that's where we are. I think that Dems should support the text that's in the Senate Ag side of this bill because it is representing compromises that have already taken place in the past. So, I think the time is short for sure. Everybody's got

to be working really hard in the next week and a half, but I do think that we're on the right path toward having a final bill. The night is always darkest before the dawn. Bottom signals everywhere. Let me show you why you should still be bullish. This is going largely unreported. Bullish. The S&P Dow Jones Indices is launching a new crypto index. Top digital assets include Ethereum, BNB, Solana, TRX, Hype, but 18 crypto coins will be a part of this index in total. Understand this is a huge deal.

An S&P Dow Jones Indices CEO, Catherine Clay, goes on CNBC and explains why their company is expanding deeper into crypto. This is a big deal. Here's why. Am I overplaying this? I mean, to me, you guys don't have that many indices. It's kind of a big deal if there's a crypto one now, right? Uh that's actually right. We think about the investing nature of digital assets, the appetite to bring some sort of trusted investable benchmark into the space. And so, we've been very intentional about working with the right

partners to bring a digital asset index that we think is more uh corollary to something like the S&P 500. And so, working with Pantera Capital has been an amazing experience for us to bring this new index to life. There's 18 constituents total. The largest five are Ether, Binance Coin, Solana, Tron, and Hyper Liquid. So, what are the requirements? How much turnover do you expect? And what do these choices represent? What we're trying to bring are the same sort of principles that we have in our equity indices into digital assets. So, when you think about uh the seasoning period, the revenue generation, the listing requirement, the liquidity

behind these different protocols for these tokens, these are the things that we think matter for serious investors and asset managers in the digital asset space. And so, we think because there's this likeness between what we deliver in equity indices and into this new benchmark for digital assets, we think it'll make sense uh for the investing uh public. But Bitcoin's not in here? Bitcoin is not in there because it's really not one of those revenue-generating protocols that we think belongs in this index. Now, this index, just like our uh other equity indices, will rebalance on a quarterly basis. Uh the top uh token is capped at

the 35% and no other token can receive more than 20% of the balance in this market cap weighted benchmark. So, we really think that people will find the synergies between equity indices and crypto benchmarks in this new index quite compelling. And obviously, a lot of crypto fund managers will now use this as a benchmark for their performance and people can kind of use this as a shorthand for its performance relative to and I think it's interesting as you emphasize the revenue generating aspect of some of these things. Is all of that legal? In other words, as we wait for the clarity act and all of this to pass, um just explain once again, how do they generate that revenue um for holders? Where is that revenue coming from?

Yeah, so these are really utilitarian driven revenues. They're not yield bearing instruments. Uh and so these protocols actually real you know, have revenue that are coming from the actual usage of the protocols that we're measuring. And we really work closely with Dan Morehead of Pantera Capital. Now, Pantera Capital, as I'm sure you know, Kelly, is one of the leading investor firms into the digital asset space. And so our methodology really looks into how are these protocols generating revenue outside of yield based uh investing. And that's really how we decide what the constituents are in this new benchmark. Bitcoin is much more likely, given enough time, to hit 1 million than it is to hit zero. Michael Saylor explained this to us on our podcast just a couple

years ago as all this was starting to happen. If it's not going to zero, it's going to a million. It's either nothing, right? If it's nothing, then it's getting scrubbed out and banned. And of course, we now know that it's not getting banned, right? There's no way that Fidelity said it all, BlackRock, Charles Schwab, Deutsche Bank, Credit Agricole, Banco Santander, all decide they're interested in this, right? They're they're not endorsing a tulip bulb. I'm bullish on Bitcoin. I'm bullish on crypto. I'm especially bullish on Ethereum. Let me show you why. No one is unstaking their Ethereum. In fact, over 2.5 million ETH is waiting to be staked.

This is bullish. Bitwise CIO Matt Hogan, you know he's a big crypto bull, Bitcoin bull, in particular Solana bull. Well, in this clip on the One River Happens podcast, he admits, "Besides their crypto index, which gives them exposure to the whole market, Ethereum is by far their biggest holding. If you see what's going on with stable coins, if you see what's going on with tokenization, if you understand that tokenization is going to be a much even bigger market than stable coins, most people are missing the bull case." And he believes a big uptick for Ethereum and crypto is coming in the future. Here's why.

Look, Ethereum is the leading play on stable coins and tokenization, which are huge markets. The community had gone somewhat astray and was in like a depths of despair earlier this year with a super long technical road map and like accusations of being ivory tower. And now they're much more tasked on the market. I think they're shipping better. I think the community is focused on investors. I think it's their market to lose on stable coins and tokenization. So, I'm very bullish on ETH. And own a lot of it. It's the second largest position, obviously, in our largest our crypto index fund.

Mhm. Um very, very bullish. The market is particularly on tokenization. Um I think skeptical of the degree to which Wall Street is turning towards tokenization as the future. I mean, you do have the chair of the SEC saying the entire market will move on blockchain based rails. And you have the CEO of the largest asset manager saying every asset will be tokenized. And yet, people still talk more about stable coins than they do about tokenization. Tokenization's a bigger market. There's a hundred trillion dollars of equities. There's more of that of bonds. There's even more of that in real estate. Those are enormous markets. And you know, the New York Stock Exchange, Nasdaq, CBOE, BlackRock,

Goldman Sachs, JP Morgan, they're all focused on this space. I just think it will happen faster than people think. You know, I as mentioned come from the ETF industry. People were hugely skeptical of that uh as uh an evolution in financial markets. And I see the same sort of like grassroots level adoption there that I'm seeing in tokenization. So, I think I think people are underestimating the uptick. Bitcoin is bottoming. This chart is exactly what people claim they dream about until it actually happens. Don't you wish you could go back to this time or this time and buy during these times in the bear market when supply in loss reaches this point. And

many people are, according to Fidelity, Bitcoin supply held by long-term holders has reached a new all-time high. Of course, the bear case is this. This red line is Bitcoin's current bear market versus its other bear markets which turned into bull markets. And if you're a believer in the four-year cycle, one more low is probably to come later this year. Then we're going to have 6 to 12 months of consolidation just to get Bitcoin's price back up to where we are now. And then maybe a year or two later we have a raging bull market. This is the bear case. This is the plays out the same as every bear cycle case. Tell me what you think in the comments below. If you're interested in making money in

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