[News Brief] Apr 22, morning | U.S. Senate Republicans Push for Floor Vote on the CLARITY Act This Week

U.S. Senate Republicans Push for Floor Vote on the CLARITY Act This Week

According to Odaily, Fox Business' crypto correspondent said on X that U.S. Senate Republicans plan to move the CLARITY Act to the floor for a vote this week and seek Democratic support.

The CLARITY Act is legislation designed to clarify U.S. crypto market structure and regulatory jurisdiction, and the industry is watching closely to see whether it will reduce regulatory uncertainty.

U.S. Senator Chris Murphy Expresses Opposition to the CLARITY Act

U.S. Senator Chris Murphy said he would vote against the CLARITY Act, a crypto regulatory bill.

According to Odaily, Bitcoin News reported on X that Murphy criticized President Trump, saying that being both a major participant in the crypto industry and the person regulating it is inherently corrupt.

The CLARITY Act is a bill intended to reorganize U.S. crypto market structure and regulatory authority, and it has drawn attention from both the industry and political circles.

BlackRock ETF Wallet Transfers $271 Million in Crypto to Coinbase Prime

Odaily reported, citing Onchain Lens monitoring, that a BlackRock ETF wallet transferred more than $271 million worth of crypto assets to Coinbase Prime.

The transferred assets included 3,310 BTC worth about $216 million and 28,400 ETH worth about $55.68 million. Onchain Lens suggested the transfer may indicate a potential sale.

Wall Street Giants Remain Cautious Despite Launch of Perpetual Futures in U.S. Regulated Market

According to Odaily, major Wall Street financial institutions are still taking a wait-and-see approach even after perpetual futures products were introduced in the U.S. regulated market.

Bank of America estimated annual global perpetual futures trading volume at about $90 trillion. Kalshi surpassed $1 billion in trading volume within one week of launching perpetual futures in June.

Perpetual futures are similar to standard futures but have no expiration date, eliminating the need for monthly or quarterly settlement and rollover. Instead, periodic funding rates keep contract prices close to underlying asset prices.

The U.S. Commodity Futures Trading Commission previously approved Kalshi's offering of the product on May 29. Coinbase has also received approval to list regulated perpetual futures in the United States.

Sources said proprietary trading firms, market makers, and emerging clearing firms are more likely to participate before major financial institutions. Large banks tend to wait for sufficient trading data, clear regulatory treatment, and stable infrastructure because of strict capital rules, client obligations, and reputational risk.

Industry participants say perpetual futures can be useful for managing weekend risk, but market depth remains a challenge. Regulatory disagreements have also emerged over whether some contracts should be treated as futures or swaps, and CME has objected to the CFTC's handling of Kalshi's bitcoin perpetual contracts.

U.S. Spot Bitcoin ETFs See $33.79 Million in Net Inflows Last Week

Bitcoin Magazine reported on July 27 that U.S. spot bitcoin ETFs recorded net inflows of $33.79 million last week.

Fund flow data for spot bitcoin ETFs is widely used as a key indicator of institutional investor demand for bitcoin.

Hyperliquid Generates $743,900 in Daily Fees, Burns 11,780 HYPE

According to Odaily, Onchain Lens said Hyperliquid generated $743,900 in fees over the past day and burned 11,780 HYPE.

The burned tokens were worth about $667,900. Cumulative HYPE burned has reached 47.3 million tokens, worth about $2.68 billion, or 4.73% of the maximum supply of 1 billion.

BitMEX Accused in Lawsuit of Seizing 622 BTC Through Server Freeze and Internal Trading

According to Odaily, a lawsuit alleges that BitMEX seized 622 BTC through a server freeze and internal trading before service termination.

Bitcoin News shared details of the lawsuit on X. BitMEX is a crypto derivatives exchange, and the matter appears to be a legal dispute related to the handling of user assets.

Uphold Cuts 17% of Global Workforce

According to Odaily, digital asset trading platform Uphold said it has cut 17% of its global staff and is reallocating resources to its growing business segment.

Uphold said no offices would be closed and that services for customers in the U.K., Europe, and enterprise clients would continue as normal. The company said slowing crypto trading activity among retail investors accelerated the restructuring, while demand for enterprise services from banks, fintechs, and broker-dealers continues to grow.

872 BTC Moved From Coinbase Institutional to New Unidentified Wallet

According to Whale Alert, 872 BTC was transferred from Coinbase Institutional to a new unidentified wallet.

The transfer was worth about $56.36 million. The owner of the receiving wallet and the purpose of the transfer have not been disclosed.

Large transfers from exchange-related wallets to external wallets can indicate a custody change or a possible over-the-counter trade, but the specific background of this transaction has not been confirmed.

Ondo Finance Launches New Execution Layer, Ondo Network

According to Odaily, Ondo Finance announced the launch of a new execution layer called Ondo Network. Ondo Network is an evolution of the previous Ondo Chain and will replace it rather than operate in parallel.

Ondo Finance said that while developing its perpetual futures exchange, Ondo Perps, it concluded that the main bottleneck was in execution rather than settlement. It therefore introduced an architecture in which high-speed, default-private trade execution is handled within a secure hardware environment, while a decentralized prover network verifies the execution code.

Asset transfer settlement currently takes place on Ethereum, and the company plans to support more public chains in the future and submit state data on-chain periodically.