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Crypto

BitMEX to wind down operations after 11 years; Zhao says \'sad\'

Cryptocurrency exchange BitMEX will cease operations on Sept. 23 local time. Operator HDR Global Trading decided to permanently close the exchange after reviewing its business strategy and broader crypto market conditions. New sign-ups have been halted, and limits on new positions will begin on Aug. 26. Unclosed positions will be liquidated at shutdown. BitMEX said it is not responsible for losses from failure to close positions by deadlines.

Crypto

Seven U.S. Democratic senators oppose release of current CLARITY bill draft, call for fixes to key provisions

A U.S. Senate crypto market structure bill known as the CLARITY bill faces public opposition from seven Democratic senators, clouding prospects for passage this year. The senators said the current draft fails to adequately address key issues including ethics rules for elected officials, consumer protection, illicit finance prevention, conflicts of interest and market integrity. Republicans released a revised draft the same day, while party leaders said they plan to proceed with a vote soon.

Crypto

Clarity bill progress highlights regulatory clarity as U.S. institutional money moves into XRP

U.S. institutional money is moving into spot XRP exchange-traded funds, with daily net inflows of $5.66 million, while $698,040 left Hyperliquid-related funds, U.Today reported. The shift comes as U.S. Senate talks on the Clarity bill pick up pace. The bill would place oversight of digital commodities under the CFTC, leaving only securities-classified tokens to the SEC. Other altcoin spot ETF flows remain largely stalled.