Key facts
- Bitcoin surged above $66,000, reaching a seven-week high.
- President Donald Trump reportedly agreed to an ethics provision for the U.S. Clarity Act.
- The White House has agreed to comprehensive ethics provisions in the crypto market structure bill.
- The CLARITY Act, previously passed by the House, aims to establish a regulatory framework for digital assets.
- Solana's tokenized asset volume reached a record $5.8 billion in the second quarter.
Bitcoin and other cryptocurrencies saw a significant rally, with Bitcoin surpassing $66,000 to a seven-week high. This surge is largely attributed to reports of an agreement between White House officials and Republican Senators Cynthia Lummis and Bernie Moreno on ethics provisions for the Digital Asset Market Clarity (CLARITY) Act. The deal aims to secure support from some Democratic lawmakers in the Senate, addressing concerns over President Donald Trump's ties to the crypto industry. The CLARITY Act, which passed the House in July 2025, seeks to establish a clearer regulatory framework for digital assets. Despite the positive price action, market indicators suggest ongoing hedging activity, with Bitcoin's implied volatility index showing a recent swing and put options trading at a premium.