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Crypto

Bitcoin $500,000 outlook resurfaces as investors weigh feasibility

A forecast that bitcoin could reach $500,000 by 2028 has resurfaced. Cole Kennelly, founder and CEO of Volmex Labs, projected bitcoin could surge to $500,000 within two years. That would require a sixfold, 540 percent rise from about $84,269. The call drew attention because Volmex focuses on volatility metrics, including an implied volatility index used to gauge expectations. Similar $500,000 projections have appeared before, with target dates repeatedly delayed.

Crypto

JPMorgan says Clarity Act unlikely to pass this year, focus turns to SEC and CFTC

Prospects for passing the Clarity Act, a bill addressing the structure of the U.S. cryptocurrency market, have fallen sharply this year, JPMorgan analysts said. They pointed to limited legislative time after a Senate procedural vote failed 49-50, far short of the 60 votes needed. Some Democrats and Republican Senator Thom Tillis opposed the motion. Analysts and market participants increasingly expect attention to shift to rule and guidance updates from the SEC and CFTC.

Crypto

U.S. Senate Democrats hold emergency meeting ahead of Clarity Act vote, test of 60 votes

U.S. Senate Democrats are moving to coordinate internally ahead of a key vote on the Clarity Act, a cryptocurrency market-structure bill. Senate Democratic leader Chuck Schumer is set to convene a caucus meeting on Sept. 14 to discuss issues before a procedural vote planned for Sept. 15. The vote will determine whether the bill advances to full Senate consideration, with 60 votes needed and conflict-of-interest restrictions still a major sticking point.