Cryptocurrency exchange Coinbase (COIN) recently retracted its support for the 
latest iteration of the crypto market structure bill, known as the CLARITY 
Act, just 24 hours before a crucial markup was scheduled. This signals 
significant concerns about the bill’s alignment with the interests of 
cryptocurrency firms compared to traditional banking institutions, not only 
for the exchange but also for broader market participants. Coinbase CEO’s 
Concerns Over Fair Competition On Friday, Coinbase CEO Brian Armstrong 
elaborated on the rationale behind the exchange&#8217;s withdrawal in an appearance 
on FOX Business, expressing his frustration with the notion that banks could 
use regulatory means to stifle competition in their favor. &#8220;It just felt 
deeply unfair to me that one industry [banks] would come in and get to do 
regulatory capture to ban their competition,&#8221; Armstrong stated. He also 
underscored the importance of a level playing field, asserting that 
competition should thrive without undue interference from powerful financial 
entities. Related Reading: Crypto Market Bill Draft Criticized For Allowing 
Continued Developer Prosecution Coinbase CEO emphasized that his concerns 
resonate with &#8220;much of the industry,&#8221; highlighting his obligation to advocate 
for customers who he believes are being shortchanged by the provisions of the 
proposed market legislation. &#8220;I declined to opine on the exact—whether the 
hearing, the markup should happen or not… But I did feel like I had to speak 
up on behalf of our customers and all Americans here,&#8221; he articulated. Debate 
Heats Over CLARITY Act Central to the ongoing debate surrounding the CLARITY 
Act is a critical disagreement between banks and crypto firms regarding the 
fate of stablecoin holders and whether they should be entitled to receive 
reward payments. Armstrong has previously raised alarms that the bill might 
prohibit tokenized equities, impose restrictions on decentralized finance 
(DeFi), and expand governmental access to financial data, thereby compromising 
individual privacy. Furthermore, he warned that the legislation could shift 
regulatory authority away from the Commodity Futures Trading Commission (CFTC) 
and towards the Securities and Exchange Commission (SEC), sidelining 
competition within the crypto space. Armstrong Critiques Banking Lobbying 
Tactics Armstrong noted the irony in the current situation, pointing out that 
while banks are indeed leveraging the advantages of cryptocurrency, their 
lobbying efforts seem aimed at restricting competing firms. &#8220;Many of these 
banks are actually very smart,&#8221; he acknowledged, referencing the commercial 
side of banking that is increasingly engaging with crypto. &#8220;They&#8217;re actually 
doing deals with Coinbase. We&#8217;re powering a lot of crypto and stablecoin 
infrastructure for them on the commercial side.&#8221; Related Reading: Bitcoin And 
Crypto ETFs Set To Attract $130 Billion-Plus Inflows This Year, JPMorgan 
Predicts Despite his criticisms of the banking sector&#8217;s lobbying tactics, 
Armstrong expressed optimism that legislators could ultimately resolve the 
outstanding issues within the crypto market structure bill: And then their 
lobbying arm comes to D.C. and thinks of it as very zero-sum and is trying to 
kill the competition. So, I suspect, like many things, if we get the 
principles in the room, we can actually get this figured out and make a good 
deal. Featured image from DALL-E, chart from TradingView.com

Coinbase CEO Claims Big Banks Are Aiming To ‘Kill Competition’ With Latest Crypto Market Bill Draft

Strive’s acquisition of Semler vaults the firm into the top tier of corporate 
bitcoin holders, amassing nearly 12,800 bitcoin as it accelerates an 
aggressive treasury strategy alongside a growing healthcare business. 
Strive–Semler Deal Creates 12,798 Bitcoin Balance Sheet, Signals Aggressive 
Treasury Expansion A major corporate transaction has reshaped a bitcoin- 
focused balance sheet. Strive Inc. (Nasdaq: […]

Deal Done: Strive Closes Semler Acquisition, Expands Treasury to 12,798 Bitcoin

The case highlights potential conflicts between nonprofit missions and 
financial ambitions, impacting trust in tech organizations&#8217; integrity.
The post Kalshi odds of Elon Musk winning his case against OpenAI surge after 
private notes reveal for-profit intent appeared first on Crypto Briefing.

Kalshi odds of Elon Musk winning his case against OpenAI surge after private notes reveal for-profit intent

XRP could be approaching an inflection point as a closely watched chart 
pattern tightens into its apex and broader “risk-on” signals in equities flash 
green, according to XRPL developer Bird (@Bird_XRPL). In a series of posts on 
X, Bird, the developer behind XRPL meme coin DROP, pointed to XRP’s hourly 
structure as setting up for a decisive move “before the end of the week,” 
arguing that a technical breakout could accelerate quickly toward a nearby 
upside objective. “Take a look at XRP on the hourly. A move is about to happen 
before the end of the week,” Bird wrote alongside a chart showing a 
contracting triangle with price compressing into the tip. “A measured move if 
we send upwards could push us straight to that $2.69 mark which finally gets 
us into ‘bull run’ mode.” Russell 2000 Breakout Puts XRP on Alert Beyond the 
short-term pattern, Bird anchored his thesis to US small caps, arguing that 
the Russell 2000’s behavior has historically mattered for XRP and the broader 
altcoin complex. Related Reading: XRP In A ‘Super Cycle’? SuperTrend Suggests 
Another Story “The Russell 2000 is about to close its highest weekly close in 
history. That matters ALOT for XRP,” Bird said. “Historically, XRP and 
altcoins have always tracked the Russell 2000 extremely closely. It’s the true 
risk on index for mid caps (not mega caps like the S&amp;P or MAG7 where most 
capital has been parked).” Bird’s argument is that XRP still trades more like 
a mid-cap risk asset than a mega-cap “store of value” proxy, making the 
Russell’s breakout a useful macro tell for when speculative capital rotates 
back into higher beta exposures. He described the current backdrop as “capital 
rotating” and “risk … back on,” suggesting that the market may be entering a 
window where positioning can change quickly if narratives align. In a longer 
follow-up thread, Bird described XRP’s extended consolidation as increasingly 
out of sync with what he views as constructive macro conditions across risk 
assets. “We’re at a genuinely clinical moment for XRP. We’ve gone sideways for 
over a year, yet the Russell 2000 is now in full price discovery, other stock 
markets have been at all time highs for a long time, metals are elevated, and 
Bitcoin dominance is chopping at levels that historically dumps at,” he wrote. 
Related Reading: Ripple Builds XRP ‘Wall Street Kit’: Developer Claims 
‘Billions Incoming’ Bird also pointed to a prior episode as a reference point: 
“In November ’24, the Russell turned green and XRP went parabolic roughly 10 
days later,” he said, arguing that this time the Russell has gone further by 
reclaiming highs and holding strength across timeframes. In his view, the 
remaining constraint is rotation, not necessarily a sharp drawdown in metals 
or other assets, but simply a pause that allows risk appetite to re-price. On 
XRP and Ripple specific context, Bird said “acquisitions done, partnerships 
rolling out, NDAs lifting, legal clarity forming,” and argued that the market 
is nearing a point where “a single narrative, catalyst, or push can ignite XRP 
fast.” The key near-term test is whether the tightening technical structure 
resolves upward as Bird expects and whether cross-asset risk appetite 
continues to support alt beta. If both align, Bird’s framework suggests 
traders will be watching for a momentum break that could carry XRP toward the 
$2.69 objective and, in his view, potentially open the door to a faster path 
toward fresh cycle highs. At press time, XRP traded at $2.06. Featured image 
created with DALL.E, chart from TradingView.com

XRP Breakout Possible Before The Weekend, Expert Says

The withdrawal of White House support could destabilize crypto market 
regulations, impacting industry trust and future legislative efforts.
The post White House threatens to withdraw support for crypto bill after 
Coinbase move, calling it a rug pull on the industry appeared first on Crypto 
Briefing.

Cryptocurrency price in INR