AGP Executive Report
Last update: 5 hours agoU.S. Crypto Regulation Stalls: The Trump-backed CLARITY Act failed a Senate procedural vote, 49-50, missing the 60-vote threshold—sparking a sharp selloff in Bitcoin (back near ~$75.9K) and major crypto stocks like Coinbase and Circle. Market Shock: The setback triggered a liquidation wave, with about $571M in leveraged long positions wiped out in a day, including roughly $190M each in BTC and ETH longs. Ripple Pushback: Ripple CEO Brad Garlinghouse said crypto’s progress won’t hinge on CLARITY, pointing to existing SEC/CFTC views on XRP. Insider-Trading Case: U.S. prosecutors charged former Robinhood engineers Hefu Chai and Jerry Xiang for allegedly trading Hyperliquid perpetuals using confidential listing info. Cybercrime & Scams: A Singapore case saw six men jailed over a S$4.9M crypto poker robbery; meanwhile, meme-coin traders are being hit by fake Cloudflare verification phishing pages. Sanctions Evasion: A Financial Times report says Iran is using crypto to settle cross-border payments as the central bank reportedly turns a blind eye. Tax Reporting: Argentina committed to the OECD crypto tax reporting framework, aiming for automatic data exchanges by Sept 2029.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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