Circle Internet

Bitcoin stayed near the $75,000 mark despite a Federal Reserve rate increase and the U.S. Senate’s failure to advance the Clarity Act. Traders now see the market caught between range-bound consolidation, regulatory uncertainty, and a possible breakout if price can clear $80,000.

The Senate’s failure to advance the Clarity Act has prolonged uncertainty over how digital assets will be regulated in the United States. Industry executives say the setback could push some capital, talent and innovation toward jurisdictions with clearer rules, though many still expect U.S. agencies to shape the near-term path forward.

Circle shares advanced in premarket trading after the stablecoin issuer topped profit expectations despite a slight revenue miss. The company also highlighted growing institutional support for Arc, its layer 1 blockchain network, alongside continued expansion in USDC activity.

Coinbase CEO Brian Armstrong pushed back on crypto companies that abandon blockchain branding to reposition around artificial intelligence. He argued that crypto infrastructure could become a key foundation for autonomous software agents, while critics warn that machine-speed money still needs stronger safeguards.

Stripe has offered to acquire PayPal in a $53 billion proposal backed by Advent International, setting up a potential blockbuster payments deal. The approach comes as both companies push deeper into stablecoins and blockchain-linked payment infrastructure.

JPMorgan lowered earnings forecasts for Circle and Coinbase after changes tied to Hyperliquid’s USDC arrangement, pointing to near-term revenue pressure and a longer-term challenge for stablecoin economics. The bank said the structure could push the two partners into competing for USDC distribution at the expense of each other’s returns.

Ark Invest added more than $75 million in crypto-linked stocks in June as the sector sold off, reinforcing its buy-the-dip strategy. Coinbase, Circle and Bullish were the main beneficiaries even as Circle suffered a steep monthly decline.