Clarity Act Ethics Battle Continues with Goldman Sachs CEO Support & DTCC TradFi Tokenization!
July 25, 2026
AI Summary
5 min readGoldman Sachs Backs the Clarity Act, DTCC Processes First Tokenized Trades, and Bitcoin Treasury Companies Falter
The crypto policy landscape shifted this week when Goldman Sachs CEO David Solomon publicly called for passage of the Clarity Act, putting the bank at odds with JPMorgan's Jamie Dimon and the American Bankers Association — and raising questions about where Dimon has been during the debate. Meanwhile, the DTCC processed its first live production trades of tokenized stocks, ETFs, and treasuries with JPMorgan, BlackRock, Goldman Sachs, and Vanguard, signaling that Wall Street's back-end infrastructure is now actively moving onto blockchain rails. But the news was not all positive: three Bitcoin treasury companies — Jack Mallers' 21.co, Mark Moss's Satsuma, and BitMEX Exchange — are shutting down or selling their Bitcoin holdings, casualties of a bear market that is thinning out copycat business models.
The Clarity Act: Ethics Disputes, Goldman's Endorsement, and a Narrowing Window
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What you'll learn
- 1 (01:00) **Goldman Sachs CEO Backs Clarity Act** - David Solomon's public support creates a major split from Jamie Dimon and community banks.
- 2 (03:35) **Clarity Act Ethics Battle Intensifies** - Democrats push for state-level enforcement, threatening the bill's August 7th deadline.
- 3 (08:37) **Elizabeth Warren Attacks Bill as Trump Enrichment** - Warren's emotional video frames the Clarity Act as benefiting Donald Trump personally.
- 4 (11:41) **Congressman Stell's Stock Trading Ban Passes House** - A bill banning members of Congress from trading stocks is a win for ethics reform.
- 5 (16:32) **August 7th Hard Deadline Looms** - The hosts assess the critical timeline for the Clarity Act.
- 6 (18:22) **Digital Chamber Sues Illinois Over Crypto Tax** - The lawsuit challenges a state-level digital asset tax the hosts blame on Elizabeth Warren's influence.
- 7 (22:26) **DTCC Processes First Tokenized Trades** - JP Morgan, BlackRock, Goldman Sachs, and Vanguard participate in live production trades of tokenized stocks, ETFs, and treasuries.
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Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
02:35 Clarity Act Ethics
06:25 Goldman Sachs CEO Clarity Act
10:42 Congressional ban on stock trading
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