13th August 2025 > > CLARITY & ETH.

tl;dr

The CLARITY Act faces one annoying obstacle. ETH is still on a tear.

Market Snap 

Market Wrap

That glorious start to the week came to a sudden halt probably due to profit-taking from investors who took advantage of those brief dips towards $100k in June. I say investors, but unleveraged speculators would be a better description. The market is always healthier following their exit.

Curious Cryptos’ Commentary – CLARITY Act

We covered this on 30^th May 2025, and other days. I will simply repeat myself, for those of you who may not remember in detail what this bill is about:

“The CLARITY act aims to address one of the central issues that has plagued the (non) regulation of the crypto industry in the US, namely clarifying the role of the SEC and the CFTC on the subject of crypto oversight. It also introduces TradFi developed safeguards for investors in the form of disclosures, segregation of funds, and a registration system, a real one this time, not a fake one as implemented under the previous administration.”

This act gets to the heart of the previous regulatory and political opposition to cryptos in the US. It was passed with overwhelming bipartisan support in the House. It is due for debate and a vote in the Senate once the summer recess has passed, after September 2^nd.

The digital asset task force, created by Trump, gives its full-throated backing to this ground-breaking piece of legislation:

“Without a clear and comprehensive classification system, market participants have had to navigate a patchwork of interpretations and guidance—a proverbial minefield for honest actors trying to lead the industry forward. A clearer, agreed-upon taxonomy is essential to ensure both the healthy development of the digital asset ecosystem and consumer and investor protection.” 

The CLARITY Act will turbocharge the pro-crypto pivot currently underway.

…

There is always a villain in the mix, and now that Gensler need detain us no longer, that villain is Senator Elizabeth Warren, who is trying desperately to marshal the remnants of her anti-freedom and anti-liberty army:

“We need crypto regulation. But we don’t need regulation written by the crypto industry that supercharges this kind of corruption. We need regulation that limits the corruption and the ability of elected officials to trade in it, that also limits the ability to blow up the economy with crypto.”

I know “Politician Lies” ceased being headline news long ago, but Warren is pushing the boundaries of good taste.

The only regulation she has ever countenanced has been a total ban on all cryptos, a physical impossibility. Let us hope that overwhelming bipartisan support in the Senate for CLARITY may finally teach her to go away, sit down, and just shut up, once and for all.

All together now:

“Sit down, shut up. Sit down, shut up.”

Curious Cryptos’ Commentary – Ethereum

It has been nearly four years since ETH posted its ATH at $4,900 which is now within touching distance.

The spot ETH ETFs have seen inflows of a mammoth $1.5bn over just the last two days. Meanwhile the ETH DATs seem to be just getting started. BitMine Immersion Technology has accumulated $5bn of ETH with a publicly stated aim of owning 5% of the total ETH supply. At today’s prices that’s just shy of $30bn of ETH. Peter Thiel has a 9.1% stake in BitMine.

Yesterday, he declared a stake of 7.5% in ETHZilla, a company that used to research inflammatory diseases but has pivoted to stockpiling ETH. The share price tripled on this news, surely putting a smile on Peter’s face.

ETH has significantly underperformed BTC over the last few years, raising the tantalising prospect of some material gains from here, all other things being equal, which they never are of course. Now is not the time to fumble your bags, but it looks like others are: