Trump Puts His Weight Behind the Clarity Act

• Trump urges Senate to pass the Clarity Act in honor of Sen. Graham
• Cap cuts its 'Stabledrop' airdrop to $4.2M as backlash mounts
• Bonzo Lend loses $9M on Hedera in a Supra oracle exploit
• Strategy sells $467M in MSTR shares
• Uniswap Auctions go live on Robinhood Chain

President Trump urged the Senate to pass the Clarity Act, the crypto market-structure bill, framing it as a way to beat China on AI and digital-asset competition. He pressed for a vote in honor of the late Senator Lindsey Graham, the Banking Committee chair who died days earlier, ahead of a targeted floor vote.

The Clarity Act is the bill that would split oversight of digital assets between the SEC and CFTC and define when a token is a security. Presidential pressure and a memorial framing raise the odds of a vote, though the Senate math and the exact division of regulatory turf are still where the fight lives.

Read more below!

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WATCH

Kaleo: 'If You're Bullish on Bitcoin, Buy Bitcoin' — Not MSTR

As Strategy sells stock to build cash while its bitcoin stack sits frozen, trader Kaleo makes the blunt case that bitcoin bulls are better off owning spot bitcoin over the leveraged MSTR proxy. Camila Russo hosts.

REGULATION

Trump Urges Senate to Pass Clarity Act for Lindsey Graham

President Trump urged the Senate to pass the Clarity Act, the crypto market-structure bill, in a Truth Social post that tied the legislation to staying ahead of China on AI and digital assets. He asked lawmakers to advance it in honor of the late Senator Lindsey Graham, the Banking Committee chair, days before a targeted floor vote.

Trump Urges Senate to Pass Clarity Act for Lindsey GrahamTrump posted on Truth Social urging the Senate to pass the Clarity Act in honor of the late Sen. Lindsey Graham, days before a targeted floor vote.thedefiant.io

Why this matters: The Clarity Act would settle the SEC-versus-CFTC turf question that has governed crypto through enforcement.

DEFI

Cap Cuts Its 'Stabledrop' Airdrop to $4.2M from $12M as Backlash Mounts

Cap, a Franklin Templeton-backed stablecoin protocol, cut its promised 'Stabledrop' reward to $4.2 million from the roughly $12 million it committed to in February. Founder Benjamin apologized for naming a figure "before the funding to back it was fully secured" and denied steering rewards to a wallet tied to his former employer.

HACKS

Bonzo Lend Loses $9M on Hedera in Supra Oracle Exploit

Bonzo Lend, Hedera's largest lending protocol, lost $9.05 million after an attacker exploited a verification flaw in a third-party Supra oracle contract. A single manipulated price feed turned 250 SAUCE tokens worth a few dollars into millions in borrowed USDC and wrapped HBAR in eight seconds.

Why this matters: The break was in a third-party oracle, a reminder that a protocol inherits the risk of every dependency it trusts. Hedera's DeFi push takes a visible hit.

CEFI

Strategy Sells $467M in MSTR Shares, Bitcoin Stack Steady

Strategy sold $466.7 million of MSTR shares to lift its cash reserve to $3 billion, while its 843,775 BTC stack stayed unchanged for a second straight week, per a July 13 SEC filing. The company is raising dollars through equity while holding its bitcoin position frozen.

Why this matters: Selling stock to build cash lets Strategy fund obligations while leaving the BTC untouched. It eases the pressure that a forced bitcoin sale would signal, at the cost of diluting shareholders.

DEFI

Uniswap Auctions Go Live on Robinhood Chain

Uniswap's Continuous Clearing Auctions went live on Robinhood Chain, letting teams run onchain token sales and bootstrap Uniswap v4 liquidity. Auction listings now surface directly in the Uniswap Web App, where users can launch, browse, bid, and claim tokens in one place.

Why this matters: Token launches have lacked a neutral, onchain venue. Folding auctions into Uniswap's front end turns the largest DEX into a launchpad and deepens its tie to Robinhood's new chain.

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