Clarity pushed to September

There ya have it. Senate Majority Leader John Thune confirmed the Senate will not take up the Clarity Act before the August recess, saying he plans to have it “queued up first thing” when lawmakers return in September. The delay gives negotiators several more weeks to find the 60 votes needed, but also pushes Clarity into an increasingly tight pre-election window. Crypto’s reaction is mixed – plenty of frustration, but some optimism that September could finally force a deal. Coinbase policy chief Faryar Shirzad put it simply: “September is the time to finish the job.” Read more →

MARA and CleanSpark both reported sharp revenue declines as tougher bitcoin mining economics continue to squeeze the business. MARA’s quarterly revenue fell 27% year over year, while CleanSpark’s dropped 31%, with both also posting sizable losses. Both are now betting heavily on AI data centers, but those projects largely haven’t started producing revenue yet. CleanSpark’s headline $6.6 billion data-center lease isn’t expected to begin deliveries until late 2027, while MARA is still building out sites and working toward tenants. For now, bitcoin mining is still paying the bills while investors wait to see if the AI pivot actually works. Read more →

Since launching a little over two years ago on BASE, lending platform Morpho now has more than $5 billion in deposits. As reminder, Morpho allows institutions to offer their users global liquidity through onchain credit solutions like loans, yield, etc. In partnership with Coinbase they popularized the “DeFi Mullet” in which a trusted fintech institution like Coinbase operated in the front while an open infrastructure like Morpho operated in the back. Now, with Morpho Midnight just recently launching exclusively on Coinbase we’d expect the deposit number to significantly increase as institutions get involved. Read more →

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