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BREAKING:
The U.S. Senate confirms Kevin Warsh to the Federal Reserve Board, returning the ex-Fed governor to the central bank. Warsh 100% chance of being Fed Chair by Friday.
JUST IN: The Senate Banking Committee has released the new 309-page draft of the Clarity Act it’s been working on since January.
Committee members now have until close of business tomorrow to file amendments ahead of Thursday’s markup.
Fred Krueger @dotkrueger
My take on the Clarity Act:
1. For Bitcoin. Very Bullish. Self Custody explicitly protected. Clear legal framework for lending, wrappers etc.. Banks can go nuts.
2. For DeFi. Generally Bullish. Protocols are intact as long as they are decentralized. Front ends need to do more Geo Blocking / SAR / potentially KYC.
3. For Stablecoins. Bullish, but yield bearing coins get heavily restricted. Banks win.
4. For “Crypto/Bitcoin Companies”.
Very Bullish. US Companies building truly decentralized protocols are fine. Products can start out more centralized and decentralize to comply.
This would start being enforcable in summer 2027 according to Claude.
Buried on page 230 of the CLARITY Act
is arguably the biggest win for the digital asset industry in the entire 309-page bill.
Section 604: The Blockchain Regulatory Certainty Act.
If you build open-source blockchain software and don’t have unilateral control over users’ funds, you are not a money transmitter. Not under FinCEN rules. Not under federal criminal law. Not under state registration requirements.
Writing code ≠ money transmission.
Building self-custody tools ≠ money transmission.
Running node infrastructure ≠ money transmission.
For years, developers have operated under the threat that publishing code could expose them to money transmission charges. Section 604 eliminates that ambiguity entirely. It establishes a clear, codified legal protection for the people who actually build the open-source infrastructure this industry runs on.
Senate Banking markup is Thursday. Read the bill.
Q: Why has Bitcoin gone up so much?
A: Because the govt has printed so much money.
Q: Is that going to stop?
A: Not a chance in hell.
Bermuda begins moving national payment and financial services onchain via the @StellarOrg network, the first operational step toward its goal of becoming the world’s first fully onchain national economy.
NYC opened a pop up The Donald J. Trump and Jeffrey Epstein Memorial Reading Room displaying 3.5 million pages of released and partially redacted Epstein files, printed into 3,437 bound volumes.
World Health Organization confirmed new case of Hantavirus in the US. Health experts warn hantavirus may be “more contagious than thought.
The White House is reportedly testing novelty glasses with Kash Patel’s eyes printed on the lenses after Trump keeps falling asleep during press conferences. NOT
Idea: An anonymous “vote to end meeting” button on Teams where if 50% of people press it, the meeting ends immediately.
China and Russia plan to sign Petro-Yaun deals with Iran to buy its oil.
Judge Colleen McMahon just handed the Trump regime a massive, humiliating defeat. She caught DOGE using a chatbot to illegally cancel $100M in grants, called it unconstitutional, and ordered every one reinstated. Hit ❤️ for this brilliant judge! Read the story:
https://www.dworkinsubstack.com/p/a-federal-judge-humiliates-the-regime
A Racist Remark About Jeffries Sets Off Democratic Anger in Virginia
Representative Jen Kiggans, a Republican in a tough re-election fight, faced criticism after she agreed with comments by a local radio host that included a racist line about Hakeem
@Sen_JoeManchin and @kyrstensinema will go down in history as two assholes who stood at the doorway and blocked the passage of the John Lewis Voting Rights Advancement Act when democracy and Black political power were under assault. The Hayes Tilden Compromise ended Reconstruction and unleashed nearly a century of disenfranchisement, terror, and the systematic destruction of Black political power across the South. Different era. Different names. Same devastating consequences.
When people ask how we got here, their failure to lead and act in that moment will be part of the answer.
Elon Musk wants to destroy Social Security.
Elon Musk called us the “parasite class” for building a system that guarantees a life of dignity after retirement, disability, or loss.
Elon Musk is the parasite.
Who’s going to China with Trump? A lot of donors to his inauguration, pro-Trump groups and pet projects:
Blackstone, Boeing, Citi, Goldman Sachs, Qualcomm and Visa all donated to his inauguration.
Blackrock and Micron donated to both his inauguration and WH ballroom.
tobyben1472
Brad Watson, a 3rd generation dairy farmer, proudly voted for Donald Trump three times. This week, the bank foreclosed on the farm his family has operated for more than 140 years because of Donald Trump’s tariffs. They loaded up the last of his dairy cattle on to trailers and hauled them away on Monday.
We warned you. We warned all of you who Trump is and what he would do. None of you listened. Now you’re finding out.
EXPLOSIVE: Rep. Robert Garcia just announced Democrats are releasing a NEW Epstein report tying the scandal directly back to Trump ally Alex Acosta and the infamous “sweetheart deal” that protected Epstein.
Garcia said they uncovered bank records, emails, photos, videos, and testimony showing how Acosta’s deal allowed Epstein to “build a global network” of enablers who helped recruit and exploit women.
And here’s the kicker: Garcia says this is ONLY the beginning. More reports are coming. Republicans spent years screaming “release everything,” now Democrats are dropping hearings and investigations practically in Trump’s backyard.
BREAKING: Jeffrey Epstein survivor Maria Farmer just released this video message to Congress, telling them how Ghislaine Maxwell has threatened her life, and the Trump DOJ has not released all of the evidence she supplied to them about Epstein and multiple Co-conspirators.
Everyone needs to hear this! What are they hiding?
@GeorgeBTonks
I truly believe that J. Stanley Pottinger’s initial goal was on the right track when he set out to expose Mossad, Leslie Wexner, and a few others, but the plan ultimately spiraled out of control.
American Horror Story https://x.com/GeorgeBTonks/status/2053955349325988323
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