$250,000. Per violation. Per day. That’s the fine in the new Clarity Act draft for any exchange that keeps trading a token issued by a sitting federal official, the President included. The official himself has to hand the profits back. Trump agreed to it.
On Monday I wrote that one clause decides crypto’s decade: the presidential ethics provision was the biggest thing standing between the bill and 60 votes.
On Wednesday the Senate released a draft with that clause written in. By Thursday, Goldman’s CEO was publicly backing the bill:
"I'm very supportive of moving the CLARITY Act forward, so we can get some market structure in place and start to move the innovation process along."
— David Solomon, CEO of Goldman Sachs, to Politico
enjoy this weeks issue! – Marc & the 51 team,
This week’s signals at a glance:
And 12+ more signals below.
This ad could belong to you. 🚀 Build credibility. Drive pipeline and revenue. We position you among 100,000+ digital asset decision-makers.
Market hours are a leftover from the era when settlement meant moving paper between buildings in lower Manhattan.
The paper is gone. The hours survived, because everything downstream, collateral calls, margin models, FX cutoffs, was built around them. Nobody wanted to break the convention alone.
