Ripple Labs

Jay Clayton is reportedly close to becoming the Trump administration’s artificial intelligence czar, a role expected to focus on domestic AI development rather than crypto policy. His record as SEC chairman, including the Ripple case and a broad digital asset enforcement push, is drawing renewed attention from crypto market participants.

The Digital Asset Market Clarity Act has stalled after bipartisan opposition derailed a key procedural vote in the Senate. Ethics disputes, election timing, industry strategy and competing House and Senate approaches all weighed on the crypto market structure push.

Crypto super PAC Fairshake is committing $30 million to oppose Sherrod Brown’s Senate comeback bid in Ohio. The move revives a high-stakes political fight after the group spent $40 million against Brown in 2024.

CFTC Chair Mike Selig said the agency is preparing to use existing authority to shape crypto market rules if Congress does not pass the Digital Asset Market Clarity Act. The move could put the derivatives regulator at the center of U.S. digital asset oversight as Senate negotiations remain unresolved.

Bitcoin rallied to its highest level since June 2 as ETF demand, lower long-term bond yields and renewed crypto policy discussions supported risk appetite. Technical traders are watching 65,000 as the key support level and 72,000 as the next upside target.

Bitcoin advanced overnight, with BTC/USD trading around 64,600 after recovering from this week’s low of 62,357. Traders are watching a White House crypto meeting, renewed spot Bitcoin ETF inflows, rising long-term bond yields, and technical resistance near 66,875.

XRP rebounds after Ripple unveils a $1B treasury plan to stabilize supply, but ETF delays and U.S. policy uncertainty weigh on sentiment. Explore price forecasts and key resistance levels for XRP.

The SEC's petition for a $1.95 billion fine against Ripple Labs marks a significant escalation in the long-running legal battle between the regulatory agency and the cryptocurrency firm. Stuart Alderoty, Ripple Labs' chief legal officer, has criticized the SEC's move, vowing to mount a robust defense against what he perceives as an unjust penalty.