Clarity Act Senate Debacle! BlackRock New Tokenized Funds, BNY Crypto Staking, & BTC Coldcard Hack!
August 7, 2026
AI Summary
5 min readThe Clarity Act, the flagship U.S. crypto market structure bill, appears stalled in the Senate with just one day left before the August recess, while major institutions like BlackRock and BNY Mellon continue launching tokenized products and staking services as if the regulatory uncertainty barely matters. Meanwhile, a serious exploit of Coldcard hardware wallets has shaken confidence in self-custody, and Michael Saylor’s strategy of selling Bitcoin while insisting he hasn’t is drawing sharp criticism.
The Clarity Act hits a wall
The Senate has one day left before recess, and the Clarity Act is in serious trouble. Senator Josh Hawley has said he won’t vote for the bill until the bank stablecoin yield issue is resolved, and Senator Lummis, the bill’s biggest champion, has started pointing blame at Democrats. The hosts describe this as a “debacle” and note that even if the Senate stays an extra week to handle other bills, the Clarity Act faces too many headwinds to pass.
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What you'll learn
- 1 (00:49) **Russia Signs Crypto Law; U.S. Clarity Act Stalls** - President Putin signs crypto legislation into law while the U.S. Clarity Act faces a Senate deadlock with only one day left before recess.
- 2 (03:49) **The Clarity Act's Political Trap** - The hosts dissect how the bill got stuck, pointing to midterm election season and partisan blame-shifting between Senator Lummis and Democrats.
- 3 (10:42) **BlackRock Expands Tokenized Funds** - Despite the D.C. drama, BlackRock launches two new tokenized money market funds, one on Ethereum and one on multiple chains.
- 4 (11:10) **BNY Mellon Partners with Galaxy for Crypto Staking** - America's oldest bank now allows institutions to stake crypto assets like ETH and Solana, merging custody with yield.
- 5 (12:57) **MasterCard Partners for Stablecoin Pilots** - MasterCard teams up with Borderless.xyz to run stablecoin pilots in different countries, adding to the wave of TradFi adoption.
- 6 (15:15) **Coldcard Hardware Wallet Exploit** - A security flaw in the Coldcard wallet leads to a Bitcoin loss, undermining the "be your own bank" ethos.
- 7 (22:13) **Michael Saylor's PR Problem** - Strategy (formerly MicroStrategy) sells $105 million in Bitcoin, forcing Saylor on a PR campaign to address his past promises to "never sell."
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Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
03:13 Clarity Act senate update
09:49 BlackRock Tokenization & BNY Staking
14:25 Bitcoin Coldcard hack
20:28 Michael Saylor Strategy sells more BTC
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#ClarityAct #Crypto #BlackRock #CryptoNews #Cryptocurren
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