The regulatory machinery advanced on multiple fronts over the week. Trump pressed Congress on the CLARITY Act and touted a CFTC effort to onshore Hyperliquid, while the SEC's proposed Reg Crypto and Selig's three-part roadmap sketched out concrete token-issuance and market-structure paths. Against that backdrop, Bitcoin surged as high as $79,400 — its strongest week since March 2023 — catalyzed by a Treasury buyback announcement, as Visa, Swift, and major banks quietly wired stablecoins and tokenized deposits into mainstream settlement.

Trump Presses Congress to Pass Crypto Clarity Act at White House Event
Key Takeaways:
Presidential push for CLARITY Act
Bill stalled in Senate
Industry executives at White House
Summary:
U.S. President Donald Trump called on Congress to pass a "fair version of the Clarity Act," legislation intended to bring clearer definitions to the cryptocurrency sector, during a White House gathering of industry executives. The bill, viewed by the industry as a foundation for legal certainty, has stalled in the Senate with limited time left on the congressional calendar. The event highlighted the administration's alignment with crypto firms on market-structure rules. It signals continued political momentum for federal crypto legislation despite legislative hurdles.
 

Trump Says CFTC Is Working To Bring Hyperliquid Into The US
Key Takeaways:
CFTC-led compliance effort
HYPE up over 6%
Selig details expected Thursday
Summary:
President Donald Trump said regulators are working to bring Hyperliquid into the U.S. in a fully compliant manner, crediting CFTC Chairman Michael Selig with leading the effort at a White House gathering on August 19. HYPE rose more than 6% within hours, trading near $68.19 with a market cap of roughly $15.1 billion. Selig indicated he would share further details the following day. The remarks underscore growing regulatory engagement with onshore access for offshore-origin perpetual futures venues.

Bessent Says Treasury Buybacks Could Exceed $4 Billion Per Issue
Key Takeaways:
Buybacks above $4B per issue
Signaling on yield fundamentals
Short-lived market impact
Summary:
U.S. Treasury Secretary Scott Bessent said increased buybacks of Treasury securities announced this week could exceed $4 billion per issue, speaking on CNBC. He described the move partly as signaling a belief that yields do not reflect underlying fundamentals, noting "we have a big toolkit." The comments followed the Treasury's statement that it would at least double buybacks for longer-dated securities. The market impact proved short-lived, with 30-year bonds erasing gains, highlighting the limits of the intervention.
 

SEC Proposes Regulation Crypto Assets to Create Legal Path for Token Issuance
Key Takeaways:
Reg Crypto four-stage framework
$5M startup exemption
Applies to non-security tokens
Summary:
The U.S. Securities and Exchange Commission has proposed Regulation Crypto Assets, or Reg Crypto, to create a legal path for certain tokens to be issued to the U.S. public and to establish a mechanism for ending investment contracts. The proposal applies only to crypto assets that are not securities themselves but were issued as part of an investment contract. The framework spans four stages — fundraising, disclosure, building, and exit — and would allow a one-time startup exemption to raise up to $5 million. It marks a structural step toward defining U.S. token-issuance rules.

CFTC Chair Michael Selig Unveils Roadmap for Crypto, AI Compute, and Prediction Markets
Key Takeaways:
Three-priority regulatory roadmap
Fallback to existing authority
Spot exchange designation studied
Summary:
CFTC Chair Michael Selig outlined a regulatory roadmap at an Innovation Advisory Committee meeting, focusing on crypto assets, AI compute markets, and prediction markets. On crypto, the agency will continue pushing Congress to pass market-structure legislation such as the CLARITY Act, while preparing to use existing authority if that effort stalls, including possibly designating some exchanges as spot venues. The plan signals the CFTC intends to advance a crypto framework regardless of legislative progress. It reinforces the agency's expanding role in U.S. crypto oversight.
 

Crypto News: Bitcoin Hits $79,400 — Best Week Since March 2023, $76,000 Target Cleared
Key Takeaways:
Bitcoin high near $79,400
Strongest week since March 2023
Treasury buyback catalyst
Summary:
Bitcoin climbed as high as $79,400 on Friday before pulling back near $76,900, up roughly 24% since Monday in its strongest weekly advance since March 2023. The rally was kicked off by a U.S. Treasury bond buyback announcement on Wednesday that extended earlier gains. Bitcoin surpassed the $76,000 level implied by an inverse head-and-shoulders pattern forming since June's $57,750 lows. The move reflects a sharp shift in momentum, though elevated derivatives positioning points to potential volatility ahead.
 

Visa Seeks New Stablecoin Settlement Partner After BVNK Sale To Mastercard
Key Takeaways:
New licensed settlement partner sought
Multi-jurisdiction, multi-stablecoin scope
Open USD project support
Summary:
Visa is seeking a new settlement and OTC partner holding cryptocurrency exchange licenses across the U.S., Canada, the UK, and Singapore, following BVNK's sale to Mastercard. The request also calls for support of multiple stablecoins and settlement for the Open USD stablecoin project fronted by Stripe, Visa, and Mastercard. The move underscores intensifying competition among payment networks to embed stablecoin settlement. It signals stablecoins moving deeper into mainstream payment infrastructure.
 

Standard Chartered and HSBC Complete First Real-Time Cross-Border Transaction on Swift Blockchain Ledger
Key Takeaways:
First real-time cross-border settlement
Tokenized deposit interoperability
Swift ledger as orchestration layer
Summary:
Standard Chartered and HSBC said they achieved interoperability for interbank tokenized deposits and completed the first real-time cross-border transaction on Swift's blockchain ledger. The transaction exchanged payment messages on the Swift ledger, with liabilities recorded in each bank's tokenized deposit infrastructure and net settled before final settlement. Swift's ledger acted as a secure orchestration layer between the institutions. The pilot marks a step toward keeping traditional bank settlement competitive with stablecoins and tokenized deposits.
 

Strategy Holds 840,447 Bitcoin With $63.36 Billion Cost Basis
Key Takeaways:
840,447 BTC held
$75,385 average cost
$1.72B unrealized gain
Summary:
Strategy currently holds 840,447 Bitcoin with a total cost basis of $63.36 billion and an average purchase price of $75,385. Based on Bitcoin's price of $77,430, the position is up approximately $1.72 billion. The disclosure reflects how the week's rally improved the math for corporate bitcoin treasuries. It highlights the sensitivity of large treasury positions to price swings around their cost basis.

Bitmine Holds 5.82 Million ETH as Unrealized Loss Narrows to $5.41 Billion
Key Takeaways:
5.82 million ETH held
$3,366 average cost
Unrealized loss narrows to $5.41B
Summary:
Bitmine's treasury holdings total 5,815,164 ETH at an average cost of $3,366 per token. Based on an ETH price of $2,436, the company's unrealized loss has narrowed to $5.41 billion, after previously exceeding $10 billion. The improvement reflects ether's outperformance during the week's rally. It underscores both the scale of the position and the significant price recovery still needed to reach breakeven.

Coinkite Releases Coldcard Firmware Update to Fix Seed Phrase Security Issue
Key Takeaways:
Firmware fixes seed phrase flaw
Exposed seeds remain unsafe
Replacement recommended
Summary:
Coinkite has released a new Coldcard firmware update to fix a seed phrase security issue affecting its hardware wallets. Seed phrases previously exposed by the vulnerability remain unsafe and should be replaced, as the software update alone does not secure already-compromised keys. The advisory highlights ongoing risks around hardware-wallet security. It signals the need for affected users to migrate funds to new, uncompromised seeds.