Crypto Daily｜Coinbase Targets All-in-One Platform for Stocks, Crypto, Prediction Markets in Canada; Kraken Parent Company Makes Moves to Offer XStocks from Global Markets

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New draft of Clarity Act is out, and it would impose limits on Trump's crypto empire

A would-be final version of the Digital Asset Market Clarity Act is circulating as the U.S. Senate sets up for its last major effort to get the crypto industry's long-awaited market structure bill into law, and it finally includes a contentious section banning crypto conflicts for the president, though that may only be a temporary measure.

The final working draft of the Clarity Act has emerged days after talks with President Donald Trump had led to a deal on how Republicans would press the effort's biggest remaining hurdle: that section to limit the president and other senior government officials from direct crypto ties, which is currently set to conclude in 2029 and leaves the Department of Justice in the role of policing related ethics complaints, according to sources’ descriptions of the draft circulating on Wednesday.

Coinbase Wants to Be Canada's One-Stop Shop for Stocks, Crypto and Prediction Markets

Coinbase has a new pitch for Canada: stop thinking of the company as just a crypto exchange, and start seeing it as the only financial app the country needs.

Eric Richmond, CEO of Coinbase Canada, told BNN Bloomberg this week that the company is pushing its "Everything Exchange" north of the border—a single platform where crypto, stocks, ETFs (funds that track a basket of assets like the S&P 500), and prediction markets (platforms where users bet real money on the outcome of real-world events, like elections or sports results) all trade from one account.

Kraken Parent Company Makes Moves to Offer xStocks From Global Markets

Payward, the parent company of crypto exchange Kraken, teamed up with global fintech GTN on Wednesday to push xStocks outside the U.S. market for the first time.

At the moment, xStocks only come in the form of U.S. equities, but are only available for trading to investors outside the United States. This move would expand the offering to equities from other markets around the world.

Kraken’s xStocks are blockchain-based tokens, each backed one-to-one by a real company share held in regulated custody. Extending their reach beyond U.S. equities is a move to take tokenized stocks, a buzzy sector in the crypto market, to the next step.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Thursday was $30.21 million. The total net asset value of Bitcoin spot ETFs is $80.72 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 22 was Grayscale Bitcoin Mini Trust, with a net inflow of $37.88 million, according to SoSoValue.

Source: SoSoValue