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Crypto

Galaxy Research cuts odds of U.S. CLARITY bill passing in 2026; July vote seen as turning point

Galaxy Digital's research unit cut its estimate for the U.S. CLARITY bill becoming law this year to 50 percent from 60 percent, citing delays in the Senate calendar and legislative procedures. It said the assessment of the bill itself had not changed. The bill cleared the Senate Banking Committee in May but has no floor vote scheduled. Work is under way to merge drafts involving the Banking and Agriculture committees, and time is limited ahead of the Senate’s late July to August recess.

Crypto

XRP futures open interest rises amid price weakness, possible retest of $0.95

XRP is showing recent price weakness even as derivatives positions increase. XRP futures open interest rose 1.13 percent in a day to $2.37 billion, while the token traded at $1.03, up 1.52 percent over 24 hours. Options activity was mixed, with open interest down 67 percent to $21.66 million but volume up 16 percent to $5.4 million. Some analysts flagged negative funding and a potential retest of $0.95.

Crypto

BIS warns stablecoin spread can undermine monetary sovereignty, urges deposit tokenisation

The Bank for International Settlements warned that the spread of stablecoins could fragment the global monetary system and weaken countries' monetary sovereignty. In its annual economic report, it said private digital tokens lack the institutional requirements to serve as safe and reliable money at scale. The BIS highlighted structural vulnerabilities in reserve asset management and risks to bank funding and credit supply if deposits move into private tokens. It urged faster tokenisation of central and commercial bank money and proposed a regulated infrastructure combining both.