Trump presses Senate on crypto bill as market rallies
Regulation & Gov ·
President met crypto executives at the White House to push the CLARITY Act, and Bitcoin, Ethereum and XRP all climbed afterward.
President Donald Trump held a White House sitdown with leaders from Coinbase, Ripple, Gemini and other digital-asset firms, using the meeting to urge Congress toward what he called "a fair version" of the Digital Asset Market Clarity Act, framing the legislation as a way to keep the country ahead of China, according to cryptopotato.com. The bill cleared the House in July 2025 but has since stalled in the Senate amid disputes over tokenized equities, stablecoin rewards, and questions about possible conflicts of interest tied to the Trump family's crypto ties.
Coinbase's Brian Armstrong argued the bill would give US crypto policy staying power "for decades and decades to come" and said he anticipates it clearing "more than 60 votes" when the Senate holds a cloture vote on September 15. Trump echoed that outlook, calling the effort "very bipartisan" and noting significant Democratic backing. He also said the administration has discussed acquiring "sizable" holdings of Bitcoin and other cryptocurrencies, and pledged that the US would remain the top player not just in crypto but in prediction markets and artificial intelligence.
Hyperliquid also came up in discussion: Trump said CFTC Chair Michael Selig is working to bring the trading platform into US oversight in a compliant manner, a remark that sent HYPE up more than 20% to $71.
Following the meeting, digital-asset prices jumped broadly — Bitcoin rose 7% to touch $70,000, Ethereum surged nearly 18% to $2,327, and XRP moved up to $1.14. The rally reflected optimism that regulatory clarity is drawing closer, even as the bill's Senate path remains uncertain.
That uncertainty was underscored separately at the SALT Wyoming Blockchain Symposium, where Democratic Senator Ruben Gallego cautioned against rushing a vote, warning that speed could produce an outcome lawmakers don't actually want. He pointed to unresolved friction over ethics provisions — including Democratic demands for language barring public officials, the president included, from selling digital currencies — and said attempts to negotiate that language with the White House have stalled.
The cluster of coverage around the meeting, corroborated by separate reports of Trump's public calls for Congress to act, points to renewed momentum for the CLARITY Act. Whether that translates into Senate passage by mid-September, and whether ethics language satisfies Democratic holdouts, remains unsettled.