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Crypto

U.S. police union backs Clarity Act revision, Coinbase urges Senate to take position

A large U.S. law enforcement organisation has publicly backed the latest revision to the Clarity Act, prompting Coinbase to press the Senate to clearly state whether it supports the amendment. Coinbase Chief Legal Officer Paul Grewal called for a public position after the Fraternal Order of Police declared support. The group said the revised bill reflects its concerns while preserving enforcement powers to investigate crypto-related crime.

Crypto

Hashdex ETF introduces staking rewards, investors paid only above threshold

Asset manager Hashdex has introduced a staking structure for the Nasdaq CME Crypto Index ETF, NCIQ, under which the firm keeps all net staking income up to a threshold. Investors in the fund’s common shares receive a share only once annual net staking income exceeds a dollar amount equal to 0.25 percent of common-share net asset value. Above that level, income is split 40 percent to Hashdex and 60 percent to the trust for common shareholders.

Crypto

XRP spot buying rises as Binance perpetual futures turn more bearish

Buying in XRP’s spot market has climbed to its strongest level since June, while bearish positioning has grown in Binance’s perpetual futures market. Centralised exchange spot cumulative volume delta reached about $388.6 million on July 23, the highest since June 1. In contrast, Binance perpetual futures CVD fell to about -$547.4 million. Binance XRP open interest rose about 9 percent from July 8 to July 23, suggesting new leveraged flows.