Crypto Daily｜Bitcoin Rallies After Bessent Says Clarity Act at ‘1-Yard Line’; Pavel Durov Wants to Give a Billion Telegram Users a Crypto Wallet

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Bitcoin Rallies After Bessent Says Clarity Act at ‘1-Yard Line’

Crypto markets are stirring after months of listless trading on signs that Washington is moving toward a clearer rulebook for digital assets.

Bitcoin rose 2.5% at one point on Tuesday, inching toward $67,000, while shares of Coinbase Global Inc. climbed as much as 13% after Treasury Secretary Scott Bessent *BESSENT: THINK WE'RE AT 1-YARD LINE ON CLARITY ACT IN SENATE lawmakers were at the “1-yard line” on the Clarity Act. He urged Congress to pass the long-awaited bill before leaving for recess. Ether added as much as 2.5% to trade around $1,950, and smaller tokens also rallied.

Pavel Durov Wants to Give a Billion Telegram Users a Crypto Wallet

Pavel Durov has a big promise to keep before summer ends. Telegram's founder announced on Tuesday that the messaging app—think WhatsApp but larger, with over 1 billion monthly active users—will roll out a native non-custodial cryptocurrency wallet across every version of the app, offering instant, zero-fee crypto transactions to all of them.

The crypto wallet is being built to support Telegram’s native crypto, Gram—formerly known as Toncoin. A non-custodial wallet.

The existing Wallet bot inside Telegram (@wallet)—which already has over 150 million registered users—runs partly in custodial mode, meaning a company holds the keys on your behalf. Durov's new wallet would change that.

Crypto Clarity Act still at mercy of ethics section as Democrats balk at Trump deal

U.S. Senate Democrats are said to be unhappy with some of the details emerging about the crypto market structure bill's most contentious section: the language that will ban government officials from significant crypto ties.

The deepest current point of disagreement is who will enforce the ban, according to people familiar with a crypto industry briefing delivered Tuesday from a White House official. The industry insiders were told that the Democrats have held tight to their preference that state attorneys general be able to enforce the ethics restrictions on federal officials, while the White House and Republicans behind the bill are insisting on the U.S. attorney general as the top authority.

The Digital Asset Market Clarity Act's advancement has come to depend on a compromise on this ethics restriction for government officials, which sources say would include the president, vice president and all members of Congress. If they can work out a compromise on that point, the rest of the bill is expected to move forward, despite a few loose ends in other areas, such as the treatment of developers in the bill's illicit-finance safeguards.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Thursday was $39.25 million. The total net asset value of Bitcoin spot ETFs is $79.82 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.38%.

The Bitcoin spot ETF with the highest net inflow on July 21 was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $23.11 million, according to SoSoValue.

Source: SoSoValue