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XRP 15-Week Low, Dimon vs CLARITY Act & Paxos Clears US Securities
Audio is available on Spreaker — see link below.
XRP slid to a 15-week low at $1.32 as Jamie Dimon's opposition to the CLARITY Act stablecoin framework threatens Senate floor passage — and institutional ETF inflows still aren't stopping the slide. Plus: Paxos becomes the first SEC-registered blockchain clearing agency, a $1B Iranian crypto seizure, and Japan moves on crypto ETFs.
Audio is available on Spreaker — see link below.
The CLARITY Act cleared the Senate Banking Committee last week. That should be good news.
While that legislative fight plays out, XRP hit a fifteen-week low at one dollar thirty-two on meaningful volume. The key support at one dollar thirty-three broke.
On the infrastructure side, the SEC just registered Paxos as a clearing agency for US securities. That's a first.
Elsewhere, the SEC charged Nathan Fuller, founder of a platform called Privvy, for running a twelve-point-three million dollar crypto Ponzi scheme across nine states affecting more than one hundred fifty victims. The fraud was marketed around an AI trading bot.
The US Treasury disclosed a one-billion-dollar seizure of Iranian cryptocurrency under Operation Economic Fury. Some wallet owners reportedly don't yet know their holdings were confiscated.
Japan's Liberal Democratic Party proposed a framework for crypto ETF trading and yen-denominated stablecoins. That's Asia's second-largest economy moving toward regulated tokenized finance while the US Senate is still working out whether banking groups will let a stablecoin bill survive.
The real test over the next few weeks is whether a stablecoin compromise emerges that can hold the bipartisan coalition together without losing the banking sector entirely. If Dimon's opposition firms up and moderate Senate votes shift, the bill's floor path gets very narrow, very fast.
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