As the week wraps up, here’s a quick look at some of the top crypto stories that made headlines.
Anthony Scaramucci Claps Back Over CLARITY Act Delay
Anthony Scaramucci, founder of SkyBridge Capital, hit back at actor-turned-crypto-critic Ben McKenzie after McKenzie celebrated the CLARITY Act’s failure to get a Senate vote before the August recess, calling it a win against Donald Trump’s “crypto corruption.”
Scaramucci dismissed the criticism, insisting nothing can stop Bitcoin, while McKenzie argued the bill would weaken oversight by shifting regulation from the SEC to the CFTC without ethics provisions covering officials’ crypto holdings.
Read the full article here.
World Liberty Financial Wins Conditional Bank Charter
World Liberty Financial, the crypto platform co-founded by members of the Trump family, secured conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter through World Liberty Trust Co.
The charter would let the firm 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, while WLF CEO Zach Witkoff welcomed continued regulatory scrutiny.
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Bitcoin’s Quiet Summer Hides a Coiled Spring
Bitcoin has spent the summer hovering near $65,000, but thinning order books and collapsing volume mean the calm could break sharply in either direction.
Binance’s perpetual futures trading volume hit its sixth-lowest daily level in five years on Aug. 8. Spot trading volume, measured in BTC, also fell to its lowest level since 2019. Analysts say low liquidity has historically been followed by large market moves. A similar pattern occurred in January, when Bitcoin moved from a narrow trading range to $98,000 before falling back to around $60,000.
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Morgan Stanley, JPMorgan Load Up on Bitcoin, Ethereum ETFs
Morgan Stanley and JPMorgan boosted their crypto ETF holdings in the second quarter, according to new SEC filings, expanding exposure to Bitcoin and Ethereum despite market volatility.
JPMorgan raised its IBIT stake to about 10.4 million shares and more than quadrupled its Ethereum ETF position, while Morgan Stanley increased its IBIT holdings 23% and grew its Ethereum ETF stake roughly 202%. Both banks also added Solana exposure, with JPMorgan opening new XRP product positions.
Read the full article here.
Peter Thiel-Backed Bullish Bets Big on Tokenized Stocks
Bullish CEO Tom Farley said tokenized stocks could be a “giant growth opportunity” for the exchange, pointing to trades of its own tokenized BLSH stock settled against a dollar-pegged stablecoin.
Farley praised the SEC’s cautious rollout of an “innovation exemption” framework for tokenization, though the agency has delayed the plan’s release. Bullish posted second-quarter adjusted revenue of $92.6 million, up 62% year-over-year, beating analyst estimates.
Read the full article here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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