SEC Proposes Crypto Rule Changes Amid Wait for CLARITY Act
The SEC recently added three cryptocurrency items to its 2026 regulatory agenda, shifting toward formal rulemaking for tokenized securities, exchange definitions, and digital asset custody. This pivot seeks to establish clear compliance pathways while the industry awaits the U.S. Senate vote on the comprehensive market structure known as the CLARITY Act.
The newly outlined SEC 2026 Regulatory Agenda marks a significant departure from the previous commission’s enforcement-heavy strategy under Gary Gensler.
TAC Token Crashes Over 90% Minutes After Sharp Selloff
TAC, a Binance Alpha token backed by TON Ventures and Hack VC, plunged more than 90% within about 15 minutes, falling to around $0.0063 in a sudden market crash.
The token was first listed on Binance Alpha and Binance Futures in July 2025. TAC is linked to a project building an EVM-compatible blockchain for the TON and Telegram ecosystem.
The project has also drawn backing from investors including Animoca Ventures, Symbolic Capital, and Spartan Group. The sharp fall has raised fresh concerns over liquidity, volatility, and risk in newly listed or low-liquidity tokens, especially those trading on high-volume platforms.
Nigel Farage Quits as UK MP Over Crypto Gift From Christopher Harborne
Reform UK leader Nigel Farage has resigned as the Member of Parliament for Clacton to trigger a “people versus the establishment” by-election. He stepped down amid intense scrutiny and ongoing parliamentary investigations into undeclared financial benefits from crypto billionaire Christopher Harborne and convicted fraudster George Cottrell.
The rapid timeline and details of the controversies surrounding his resignation include:
- Convicted Fraudster Funding: A separate, newly expanded standards probe is investigating undeclared benefits and financial support provided by aristocratic businessman George Cottrell. Reports indicate Cottrell funded Farage’s staff, security, and London office space.
- The By-election: Farage announced his resignation to force a contest in his coastal constituency of Clacton-on-Sea. He claimed the move is his way of “sticking two fingers up” to the political establishment and will allow voters to directly judge his actions.
- The £5m Crypto Gift Probe: He is currently under investigation by the parliamentary standards commissioner regarding an undeclared £5 million gift given by British-Thai cryptocurrency investor Christopher Harborne shortly before the 2024 general election. Farage maintains the money was a private gift used for his personal security and did not need to be declared.
BlackRock’s IBIT Leads Bitcoin ETF Rebound With $209M Inflow
U.S. spot Bitcoin ETFs extended their recovery as BlackRock’s iShares Bitcoin Trust led the market with $209.4 million in fresh inflows on July 6. Total daily net inflows across spot Bitcoin ETFs reached $265.7 million, marking the second straight positive session after recent weakness.
ARK 21Shares’ ARKB added $33 million, Grayscale’s Mini Bitcoin ETF saw $42.3 million in inflows, while Fidelity’s FBTC and Bitwise’s BITB also posted smaller gains. However, Grayscale’s GBTC remained under pressure with $44.5 million in outflows.
The rebound came as Bitcoin traded near $63,500, with daily volume rising to about $33.5 billion. Ethereum ETFs also saw $29.1 million in inflows, but Bitcoin funds attracted nearly nine times more capital, showing that investors still preferred BTC exposure during the latest ETF recovery.
Wintermute: Crypto Relief Rally Fueled by Soft Payrolls and Dovish Fed Signals
Crypto markets surged last week, driven by softer US economic data and dovish market interpretations of Fed signals. In its latest market update, Wintermute noted that nonfarm payrolls came in at just 57k versus a 110k consensus — the weakest reading in four months — with downward revisions to prior months. Unemployment edged lower to 4.2%, though largely due to a drop in labor participation.
This data, combined with Kevin Warsh’s mixed but non-confrontational remarks at Sintra, fueled expectations that the odds of further rate hikes before year-end have fallen to around 25%. Wintermute highlighted that risk assets broadly rallied, but crypto led the charge with ETH jumping 13.54% and BTC rising 6.75%, outpacing the S&P 500 (+2.17%) and Nasdaq (+0.86%). Gold gained modestly while long-dated Treasuries sold off.
Wintermute observed that Bitcoin’s advance appeared more fundamentally supported than Ethereum’s. BTC recovered into the low $60,000 range backed by whale accumulation of over 270k coins near the 200-week moving average and a shift in options flow toward 60-70k calls. In contrast, ETH’s sharper gains were largely catalyst-driven following the July 1 launch of Ethereum Institutional, positioned as a gateway for banks into tokenization and stablecoins.
However, Wintermute pointed out this enthusiasm arrived alongside Ethereum Foundation staff and budget cuts plus continued ETF outflows. Stablecoin news also moved markets, as a major consortium including Visa, Mastercard, Stripe, and Coinbase launched Open USD, pressuring incumbent Circle. Select altcoins like Lighter (LIT) spiked over 20% on Robinhood Wallet integration news, but broader altcoin sentiment remained cautious with profit-taking evident.
Wintermute described the move as a classic relief rally rather than the start of a structural bull market. According to the firm, positive inputs — easing macro data, slightly more dovish Fed signals, Middle East de-escalation, and institutional Ethereum developments — lifted sentiment in thin summer liquidity after a tough first half of 2026. A one-day BTC ETF inflow of $221.7m on July 2 ended a streak of outflows, but year-to-date figures remain deeply negative and BlackRock’s IBIT continued bleeding.
Wintermute analysts caution that sustained inflows are needed before declaring a trend reversal, keeping the firm somewhat guarded on the broader capital-flow picture despite room for near-term upside.
Crypto Market Live: Bitcoin Price Tops $64K After Trump’s Crypto Praise and Renewed Optimism
Bitcoin recently climbed above $64,000 in the past 24 hours—spiking to a daily high of $64,597—marking a notable short-term rebound amid broader market volatility.
This move represented a relief rally after recent pressures, with trading volume spiking and over $100–450 million in short liquidations helping propel the price upward through key resistance levels.
A primary catalyst was weaker-than-expected U.S. jobs data, which eased fears of aggressive Federal Reserve rate hikes. The economy added only about 57,000 jobs in June against forecasts near 113,000, with prior months revised downward. This softer labor market outlook weakened the dollar and Treasury yields, making risk assets like Bitcoin more attractive as expectations for monetary easing grew.
President Trump’s positive comments, describing himself as a “big crypto guy” and expressing support for the sector, further boosted sentiment and helped offset news of corporate Bitcoin sales by major holders like Strategy.
Despite the breakout, Bitcoin’s position remains dynamic, with the asset trading around the $63,000 level shortly after the surge and facing resistance near $64,500–$65,000. Spot ETF flows have shown mixed signals with recent outflows, and analysts note that while short squeezes drive quick gains, sustained upward momentum will likely depend on upcoming inflation data, Fed communications, and broader institutional demand.
