Block Tao

The stalling of the Clarity Act has triggered a sell-off, sending XRP down over 9% and increasing the likelihood of a retest of the $1 level.

The procedural vote on the Clarity Act failed, sending Bitcoin below $75,000 and causing crypto stocks to plunge across the board.

Modest gains in Samsung Electronics and SK Hynix supported the KOSPI to hold the 6,600 level, while SoftBank and Kioxia tumbled over 3%, dragging the Nikkei lower.

The KOSPI narrowly held the 6,600 mark while the Nikkei 225 showed resilience. SoftBank surged over 7%, whereas SK Hynix and Samsung came under pressure.

Nokia plunged more than 13%, falling back below the key $10 mark. Has this round of rally come to an end?

Ahead of the vote on the Clarity Act, Cathie Wood heavily offloaded crypto stocks, cashing out over $60 million.

As procedural voting on the CLARITY Act gets underway, cryptocurrencies generally rebounded and strengthened, with XRP surging over 5%.

Japanese and South Korean stock markets diverged, with South Korean stocks opening lower and falling 0.76%, while the Nikkei bucked the trend to turn higher. SoftBank Group surged nearly 5%, whereas Samsung Electronics and SK Hynix came under pressure and moved lower.

Japanese and South Korean stock markets tumbled across the board, with the KOSPI plummeting over 3%. SoftBank plunged 11%, while SK Hynix and Kioxia dropped 6%.

OpenAI will not go public in 2026, causing SoftBank's stock price to plunge 12% and completely erasing last week's gains.

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Geopolitical risks resurface in the Strait of Hormuz and the Red Sea, driving global market volatility amid surging oil prices and rate hike expectations.

XRP is the native token of the XRPL blockchain, specializing in efficient cross-border payments. If the CLARITY Act passes, it will formally establish XRP's status as a digital commodity under CFTC regulation, eliminating institutional compliance barriers and unlocking massive institutional capital. Conversely, if the bill is delayed or fails to pass, XRP will remain dependent on protection from judicial precedents, which could delay institutional adoption and exert downside pressure toward the $1 mark.

SpaceX employs a phased, rolling share unlock mechanism. Although frequent share releases create potential selling pressure, strong earnings results and buying interest have successfully absorbed the market supply. As the lockup expirations conclude by mid-2027, this selling overhang will dissipate, giving SpaceX the potential to reclaim its $225 high. However, sustained momentum will still require fundamental catalysts such as Starlink profitability and the commercialization of Starship.

Higher-than-expected U.S. PPI data sparked fears of interest rate hikes, driving the KOSPI and Nikkei 225 down by about 2%. Kioxia plummeted nearly 7%, while Samsung Electronics and SK Hynix both followed the decline.

Rate hike expectations weigh on the crypto market as XRP tests key support at $1.3, where a breakdown could trigger a 23% decline.

Micron's Taiwan employees are receiving a major benefits package, offering salary incentives of up to 68 months' pay and a minimum cash compensation of NT$1.7 million (approximately US$53,000).

The U.S. August PPI surged dramatically, reigniting expectations of consecutive rate hikes by the Federal Reserve, triggering a bloodbath in the crypto market as BTC plunged below $77,000.

Japanese and South Korean stock markets plunged at the open, with the KOSPI tumbling 3.3% to fall below 6,900 points, while chip stocks plunged across the board.

The Nikkei 225 rallied late in the session to close up 0.2%, while South Korean stocks held firmly above the 7,000 mark, and Kioxia, Samsung, and SK Hynix narrowed their losses.