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Bitcoin pauses as Middle East tensions lift oil; CLARITY bill, FOMC to set direction

Bitcoin rebounded to around $65,700 but struggled to extend gains as international oil prices and U.S. Treasury yields rose. Markets are watching next week’s U.S. congressional debate on the CLARITY bill and the Federal Open Market Committee meeting as key drivers of near-term direction. Expectations over the bill’s ethics provisions initially lifted prices, but momentum faded amid worsening U.S.-Iran tensions and profit-taking. The Fed’s signals on potential further rate hikes are also in focus.

Crypto

Bitcoin Security Consortium launches with BlackRock, Strategy among nine members

Nine companies including BlackRock, Strategy and Coinbase announced the creation of the Bitcoin Security Consortium to strengthen long-term security. The group said it will invest $15 million over the next three years. It said it will not take part in Bitcoin protocol development or change specifications, focusing instead on funding and information sharing to improve security and resilience, including preparations for post-quantum cryptography.

Crypto

Goldman Sachs CEO publicly backs U.S. Clarity Act, diverging from banking industry

Goldman Sachs CEO David Solomon has formally voiced support for the U.S. Clarity Act, saying it can help create fair competition and promote market stability and development. The bill aims to clarify oversight between the SEC and CFTC and reshape digital asset regulation. Major banking and finance groups, including the American Bankers Association, warned stablecoin provisions could shift insured deposits to digital asset platforms and reduce community banks’ lending capacity. Opposition has also spread beyond banks.