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Crypto

Former CFTC chair says Clarity bill should not be overhyped, industry innovation to continue

Chris Giancarlo, a former chairman of the U.S. Commodity Futures Trading Commission, said technological innovation in the cryptocurrency industry will not stop even if the Clarity bill pending in Congress fails to pass. He urged the industry not to overestimate the bill and raised concerns about expanded surveillance, saying the bill could draw crypto transactions into Bank Secrecy Act monitoring. He also commented on political factors behind delays and federal regulation of prediction markets.

Crypto

Crypto card daily spending hits record high as Visa network and regulatory overhaul drive growth

Daily spending on cryptocurrency payment cards hit a record $36.82 million on July 20. Data showed usage has roughly tripled over the past year even as major crypto prices moved sideways. KAST led daily card payments with $13.64 million, briefly overtaking Hong Kong stablecoin payments firm RedotPay, though the lead flipped back within 24 hours. Market participants cited regulatory clarity and Visa network access as key drivers, while some attributed the spike to KAST incentives.

Crypto

Five factors Fidelity says could end the crypto bear market

With bitcoin trading around $60,000, Fidelity describes the current downturn as a typical “crypto winter” and set out five factors that could help end the bear market. It points to bitcoin’s four-year cycle and the post-halving supply cut, clearer U.S. regulation including the Clarity bill, and Federal Reserve policy as key drivers. Fidelity also cites new use cases such as RWA tokenisation, AI-related infrastructure and stablecoins, as well as renewed institutional adoption.