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State AGs vs. CLARITY Act, Strategy's Capital Pivot & Binance ADGM | Sep 14-15
Audio is available on Spreaker — see link below.
Eighteen state attorneys general united to block the CLARITY Act's Senate vote as crypto fraud losses hit $11.4B — while Strategy paused Bitcoin buying and Binance signalled institutional credibility from Abu Dhabi. Today's briefing covers five market-moving developments across regulation, corporate treasury, and exchange licensing.
Audio is available on Spreaker — see link below.
Eighteen state attorneys general sent a coordinated letter to Congress on September fourteenth telling senators, in plain terms, that the CLARITY Act could gut their ability to protect investors from crypto fraud. That letter landed one day before a scheduled Senate Banking Committee procedural vote.
Away from the legislative calendar, Strategy Inc. made a notable capital allocation move on the same day. The company, formerly MicroStrategy, repurchased one hundred and thirty-nine million dollars of its variable-rate preferred stock, known as STRC.
Compare Strategy's approach with Capital B, which raised two hundred and forty-nine thousand, six hundred and fifty-one euros through new share issuance on September fourteenth and used it to acquire four Bitcoin, bringing total holdings to three thousand, five hundred and twenty-five coins at an average cost of eighty-seven thousand, eight hundred and fifty-four euros per coin. Small increment.
One more development from September fourteenth. Binance confirmed it operates under an Abu Dhabi Global Market regulatory license and highlighted its Proof of Reserves verification and SAFU emergency fund for user protection.
The narrow focus for the next twenty-four hours is the Senate procedural vote. If it clears, the CLARITY Act moves forward and the state preemption question becomes more urgent.
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