Debasement Trade Unwinds, Solana Comeback, and The CRCL Short: Part 2

Under Exposed is our Weekly Macro & Crypto News Show! From 12pm ET, every Tuesday Powered by https://myriad.markets/markets Kick: https://kick.com/DecryptMedia X: https://x.com/DecryptMedia Crypto majors are mixed with HYPE leading; BTC -1.5% at $59k; ETH even at $1,570; SOL +1% at $73.3; HYPE +3% at $65.50. LIT (+10%), KAS (+8%) and SKY (+6%) led top movers. Oil even at $70; Gold even at $4,040. Stock futures are slightly green ahead of the quarter close; DOW +0.1%, Nasdaq +0.2%. The Supreme Court ruled that Trump can fire SEC and CFTC commissioners at will, overturning a 91-year precedent and handing the president direct control over the two agencies that regulate crypto at a crucial moment for legislation. The White House is talking to law enforcement about concerns with the CLARITY Act, according to a report, as worries persist that the bill’s developer protections could be exploited for illicit finance. JPMorgan backed the Clarity Act in a major pivot, but warned that new rules should close regulatory gaps. Galaxy Digital lowered its odds of the CLARITY Act passing in 2026 to 50%, citing the narrowing legislative window and mounting opposition to the crypto market-structure bill. BNY added USDC to its custody platform, expanding the bank’s digital-asset services to meet growing institutional demand for stablecoin custody. A JPMorgan report highlighted low institutional interest in crypto perpetual futures, finding big players have largely stayed on the sidelines of the product at the center of the CME-CFTC fight. Vitalik Buterin highlighted the importance of obfuscation in crypto, pointing to it as a foundational tool that could unlock powerful new privacy and functionality for onchain applications.