Senate Majority Leader John Thune says a vote on the Clarity Act could come before lawmakers leave for the August recess, while Cathie Wood's ARK Invest adds to its Coinbase and Circle stakes. Polymarket traders now put the odds of the bill becoming law this year at 27%, down from a February peak. Bitcoin miners split sharply on Q2 earnings, with Cipher Digital and Hut 8 both missing estimates.
Senate Majority Leader John Thune said Monday he expects an initial vote on the Clarity Act before this week is out. Cathie Wood's ARK Invest added $8.02 million of Coinbase stock and $1.39 million of Circle shares to its funds the same day. Bitcoin traded near $63,800 early Tuesday, paring its 24-hour advance to less than 1%.
Clarity Act Faces Recess Deadline
The Senate breaks for recess on Aug. 7, and proponents of the bill, formally marked as H.R. 3633, have warned it is unlikely to gather enough support once lawmakers return after the November midterms. Republicans still need roughly 10 Democratic senators to end debate and avoid a filibuster once Thune files a cloture motion. According to Bloomberg, Thune told reporters: "I think market structure we'll get a vote on."
Yet the bill was not on the Senate's floor calendar as of Tuesday, and traders on Polymarket now price the odds of the Clarity Act becoming law this year at 27%, down from a peak of 82% in February. Crypto analyst Ted Pillows said that if Senate leadership seeks cloture Wednesday, the earliest vote would likely come Friday. If the bill clears the Senate, it must still pass the House or be reconciled with the House's version before reaching President Trump's desk.
ARK Invest Deepens Its Coinbase and Circle Bets
Wood's ARK Innovation, ARK Next Generation Internet and ARK Blockchain & Fintech Innovation ETFs together bought 54,776 Coinbase shares for $8.02 million, based on Monday's $146.50 close. ARK Innovation and ARK Blockchain & Fintech Innovation also added 23,070 shares of stablecoin issuer Circle, worth $1.39 million at Monday's $60.35 close. Coinbase is now ARK Innovation's sixth-largest holding at 4.15% of the fund, while Circle ranks ninth at 3.67%.
Bitcoin Miners Split On Earnings
Cipher Digital tumbled almost 12% after missing Q2 estimates, posting an adjusted loss of 16 cents a share against forecasts for an 11-cent loss as revenue fell 43% to $24.8 million. Hut 8 fell almost 8% after posting a loss of $1.27 a share, even though revenue jumped 81% to $74.9 million.
By contrast, Bitdeer jumped almost 8% after announcing a 16-year data-center lease worth $4.7 billion in contracted revenue that could expand to $8 billion. IREN climbed nearly 3%, while MARA Holdings reversed from an early gain to slide nearly 2%.
Bitcoin itself is down about 27% so far this year, leaving it well below its October record near $126,200.
Sources: Investor's Business Daily, CoinGape
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