24H Trending Coins and News | Clarity Act Fails to Advance in U.S. Senate Cloture Vote; Senator John Kennedy Says It May Wait for Lame-Duck Session (September 16)
- Core View: The U.S. Senate procedural vote failed to advance the Clarity Act, dealing a setback to crypto regulatory legislation; the market faces short-term pressure, but offshore capital is still accumulating, and the push for a regulatory framework continues.
- Key Elements:
- Major coins on CEXes fell broadly, with XRP down 10.14% in 24 hours, BTC down 3.00%, and ETH down 4.89%.
- The Clarity Act failed to advance in the Senate procedural vote with 49 in favor and 50 against, and John Kennedy said it may wait for the lame-duck session.
- Analyst Willy Woo noted that after the failed vote, Coinbase CVD accelerated downward, reflecting selling by U.S. investors, while Binance CVD rebounded, showing that offshore markets are still accumulating, a bullish divergence.
- Wintermute reduced its short exposure from $102.1 million to $55.54 million, with cumulative profit reaching $179.89 million.
- The SEC chair plans to allow investment advisers to self-custody crypto assets under certain conditions and is considering state trust companies as custodians.
- A Bank of England official warned that U.S. dollar stablecoins may reinforce dollar dominance and increase demand for U.S. Treasuries, while total stablecoin circulation has exceeded $300 billion.
- Strive purchased 469 BTC, bringing its Bitcoin reserve to 25,000 coins and raising its amplification ratio to 53.5%.
1. Trending Coins on CEX
Top 10 CEX Trading Volume and 24-Hour Price Change:
- BTC: -3.00%
- ETH: -4.89%
- XRP: -10.14%
- SOL: -5.54%
- BNB: -1.52%
- ZEC: -5.15%
- DOGE: -4.96%
- UNI: -6.02%
- SUI: -5.05%
- TRX: -1.66%
24-Hour Top Gainers (Data Source: OKX):
- ARB: +12.26%
- G: +7.99%
- LSK: +7.06%
- NES: +6.46%
- xTWLO: +5.17%
- xQCOM: +4.17%
- xCIEN: +3.61%
- xOKTA: +2.60%
- xCRWD: +2.55%
- xAMD: +1.78%
24-Hour Top Tokenized Stock Gainers (Data Source: msx.com):
- CONI: +21.51%
- ETHD: +11.21%
- MSTZ: +10.44%
- TEM: +10%
- SBIT: +8.53%
- ALMU: +7.89%
- EOSE: +6.54%
- VAPE: +4.99%
- FFAI: +4.76%
- NCTY: +4.74%
2. Top 5 Trending On-Chain Meme Coins (Data Source: GMGN):
- Metapad
- SHOS
- DECIST
- WAIFU
- PONSHARE
Headlines
U.S. Senate Fails to Advance Clarity Act in Cloture Vote
According to Bitcoin Magazine, the U.S. Senate failed to advance the Clarity Act in a procedural cloture vote.
Clarity Act Vote Fails But May Not Be Dead, John Kennedy Says It Could Wait Until Lame-Duck Session
A Fox Business crypto reporter posted that U.S. Senator John Kennedy said he was "not surprised" by the Clarity Act vote failure but does not believe the bill is dead. John Kennedy stated that Democratic colleagues understand the need for a deliberately designed crypto market structure, but the work will have to wait until the lame-duck session.
U.S. Senator Ted Cruz, referencing the film The Princess Bride, said there is a big difference between the bill being "dead" and "mostly dead," and expressed hope that it could be revived. Ted Cruz blamed Democrats for the vote failure, saying they are "playing politics" and pushing crypto industry activity and jobs overseas.
U.S. Treasury Secretary Bessent: U.S. Earned Tens of Millions of Dollars from Yen Intervention
U.S. Treasury Secretary Bessent stated: If it becomes clear that congressional authorization is needed, he will meet with House Speaker Johnson. In the field of artificial intelligence, both innovation and safety need to be addressed simultaneously. We are fighting "the most important fight of our lives" for strategic industries. The Treasury's bond buyback intervention has been successful. The funding offset plan for the $5,000 check is "moving forward." Lawmakers are encouraged not to exempt AI from liability. AI companies should not be given a "blank check on liability." The U.S. earned tens of millions of dollars from past aid to Argentina. We have maintained continuous dialogue on Japan's intervention. The U.S. used "notional amounts" in the yen intervention. The U.S. earned tens of millions of dollars from the yen intervention.
Industry News
19 of 22 Wall Street Institutions Expect Fed Rate Hike in September, Most Anticipate 50 Basis Points
19 of 22 major Wall Street institutions expect the Federal Reserve to raise interest rates in September, with most anticipating a 50 basis point hike.
Specifically, Goldman Sachs expects a 25 basis point hike; Bank of America, Deutsche Bank, and RBC expect a 75 basis point hike; JPMorgan, Morgan Stanley, Barclays, Citi, HSBC, UBS, and most other institutions expect a 50 basis point hike. Additionally, Jefferies expects the next rate adjustment to be a 25 basis point cut in December, while Oxford Economics expects no rate cut until 2027.
Analyst: U.S. Investors Selling After CLARITY Act Vote Failure, Offshore Markets Still Accumulating
Bitcoin analyst Willy Woo posted that after the CLARITY Act Senate procedural vote failure, cumulative volume delta across exchanges shows Coinbase's CVD accelerating downward to approximately negative 6,659 BTC, reflecting U.S. investor selling; Binance's CVD rebounded from lows to approximately negative 5,841 BTC.
He believes the more dominant offshore market is still accumulating and describes this divergence as bullish. During the same period, Bitcoin retreated from a high of $80,560, dipping to $74,968; Bybit, OKX, and Bitstamp CVDs were approximately negative 582, negative 1,135, and negative 764 BTC, respectively.
Project News
Aave Labs recently published an ARFC proposal to deploy Aave V4 isolated Hub and Spoke, using institutional custodied assets as collateral for borrowing stablecoins. The first instance plans to use Anchorage-custodied BTC, with Anchorage holding the underlying collateral throughout the loan lifecycle.
Collateral ratios, liquidation penalties, supply and borrow caps, interest rate models, and oracle configurations will be proposed by DAO risk service providers in a subsequent AIP. The proposal must pass through ARFC feedback, Snapshot voting, and the AIP process in sequence.
According to Onchain Lens monitoring, after the CLARITY Act failed to advance, Wintermute (0xecb...2b00) began realizing short profits. Its short exposure decreased from $102.1 million to $55.54 million, unrealized profit increased from $928,000 to $2.28 million; ETH short position decreased from 15,330 ETH (approximately $38.47 million) to 7,810 ETH (approximately $18.72 million). Wintermute's cumulative profit reached $179.89 million.
Bitcoin Reserves Reach 25,000 BTC, Strive Purchases 469 BTC and Raises Leverage Ratio to 53.5%
Bitcoin News posted that Strive purchased another 469 Bitcoin for $36.6 million, bringing its Bitcoin reserves to 25,000 BTC. The purchase was entirely funded through SATA, and Strive also raised its leverage ratio to 53.5%.
Funding & Investment
OpenAI Plans Pre-IPO Funding Round, Targeting $1.2 Trillion Valuation
OpenAI is in preliminary discussions with investors for a new private funding round, targeting a valuation of approximately $1.2 trillion in preparation for a future IPO. According to people familiar with the matter, OpenAI reached an $852 billion valuation after completing a funding round in March this year. Recently, driven by renewed market demand from its latest AI models, the company has been discussing further funding plans with large investors. The negotiations are still at an early stage, and the final valuation and funding size may change.
OpenAI CEO Sam Altman previously stated that the company's IPO may not come before 2027, and believes that going public in the current environment of rising AI safety risk discussions is not the best timing.
The round was participated in by Visa Ventures, Circle Ventures, Haun Ventures, Ripple, Translink Capital, and Mirana Ventures. Velocity provides payment companies and banks with stablecoin-based settlement, liquidity management, and treasury operations backend systems without requiring replacement of existing infrastructure.
Fin.com Completes $20 Million Seed Round Led by Expa
The round was led by Expa with participation from Coinbase Ventures and others. Fin.com primarily provides global stablecoin infrastructure services.
Regulatory Developments
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated that he has directed staff to draft a proposal allowing investment advisers to directly custody client and regulated fund crypto assets under certain conditions, and is considering allowing state trust companies to serve as custodians.
Atkins noted that qualified third-party custodians do not yet exist for some crypto assets. The custody proposal is part of the SEC's crypto regulatory framework, following the SEC's crypto asset custody rule amendment entering White House review in August.
The other two components of the framework include the Crypto Asset Regulations proposed on August 18 and the transfer agent rule modernization plan, covering crypto asset issuance and transfer respectively. Atkins also urged Congress to advance the CLARITY Act, but the bill failed to advance in a Senate procedural vote on September 15 with 49 votes in favor and 50 against.
Voices
U.S. Senator Jake Chervinsky: Clarity Act Fails to Pass U.S. Senate, Better No Bill Than a Bad Bill
Jake Chervinsky posted on X that the U.S. Senate did not pass the crypto regulatory bill Clarity Act, but proponents did not compromise on principles during 18 months of research, negotiation, and revision, insisting on "better no bill than a bad bill." He said that due to political maneuvering in an election year, a good deal was difficult to reach, but the crypto industry can still function without the Clarity Act, and the SEC and CFTC have the authority and expertise needed to regulate crypto markets. Jake Chervinsky believes the crypto regulatory discussion is just beginning, and future policy prospects still have room.
Carolyn Wilkins, a member of the Bank of England's (BoE) Financial Policy Committee, stated that the growth of dollar stablecoins could reinforce the dollar's global dominance and increase demand for U.S. Treasuries. Speaking at Queen's University Belfast, she noted that dollar stablecoins can facilitate cross-border settlement and expand access to dollar assets outside the United States.
Stablecoin issuer Tether's USDT and fintech company Circle's USDC held nearly $150 billion in U.S. Treasuries as of the end of 2025 and purchased approximately $33 billion during that year. Wilkins noted that large-scale stablecoin redemptions could force issuers to sell Treasuries, amplifying volatility in stressed markets.
Total stablecoin circulation currently exceeds $300 billion, with 98% of the value pegged to the dollar. Wilkins stated that this gives the dollar a significant first-mover advantage, and the impact of stablecoin market development extends beyond the cryptocurrency sector.
