Coach JV

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[Twenty One @twentyone]

Twenty One Capital Appoints Raphael Zagury as Chief Executive Officer

Mr. Zagury to Lead Company's Next Phase of Building a Bitcoin-Native Operating Company

XXI Unveils Refreshed Strategic Priorities Focused on Cash Flow Generation and Disciplined Capital Allocation

Full release: https://t.co/SNvYe9i9H9

[CoinMarketCap @CoinMarketCap]

JUST IN: 🏦 JPMorgan, Goldman Sachs, BlackRock, Vanguard, and the NYSE are among nearly 40 firms joining DTCC in a trial to tokenize stocks and Treasurys, per WSJ.

[Watcher.Guru @WatcherGuru]

US National Debt

2011: $14.79T
2012: $16.06T
2013: $16.73T
2014: $17.82T
2015: $18.15T
2016: $19.57T
2017: $20.24T
2018: $21.51T
2019: $22.71T
2020: $26.94T
2021: $28.43T
2022: $30.93T
2023: $33.17T
2024: $35.46T
2025: $37.64T​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​
2026: $39.50T (currently)

That's an increase of 167% since 2011

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 President Trump says the stock market is "setting record after record because investors know America is winning."

"This is the Golden Age of America"

[Polymarket @Polymarket]

JUST IN: Fed names Marc Andreessen to Kevin Warsh’s new reform task force.

[The Kobeissi Letter @KobeissiLetter]

The richest Americans have never controlled this much wealth:

The wealth of the top 0.00001% of Americans is up to a record ~12% of US national income.

National income measures the total income earned across the economy, including wages, business profits, and investment income.

This percentage has more than quadrupled since the 2008 Financial Crisis.

By comparison, this metric never exceeded 1% between the 1950s and the 1990s.

The surge has been fueled by record gains in the equity market and rising real estate prices.

Asset owners are the only winners.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Total US federal debt is now up to a record $39.4 trillion, rising +$3.2 trillion over the last 12 months.

Since 2020, US federal debt is now up a massive +$16.3 trillion.

This marks a +$2.5 trillion average annual increase, or +$209 billion per month.

At this pace, total US debt will surge to $50.0 trillion before 2030.

The US debt crisis has no end in sight.

[Treasury Secretary Scott Bessent @SecScottBessent]

More than a year ago, the House passed the Clarity Act.

There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote.

It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts.

These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it.

The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank?

America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best:

“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

[Eleanor Terrett @EleanorTerrett]

This week will be a busy one for economic data, Fed speeches and, likely, further clarity (🫠) on the status of the Clarity Act.

Top things to watch:

📌CPI & PPI: Fresh inflation data that could shape expectations for the Fed’s next interest rate decision.

📌Fed Chair Kevin Warsh delivers the semiannual monetary policy report to Congress, and will likely be quizzed by lawmakers on a variety of topics relating to the Fed. Other speeches are expected from Michelle Bowman, Chris Waller, Michael Barr, Lisa Cook and several regional Fed presidents.

📌An updated version of the Clarity Act that merges the Senate Banking and Senate Agriculture Committee texts. While stakeholders are anticipating text, some industry sources tell me key provisions are still being “actively negotiated” and that an ethics deal is “not done.” It’s unclear, as of now, what that means for the timing of a Senate floor vote, which many are hoping could be scheduled as soon as the week of the 20th.

[Brad Garlinghouse @bgarlinghouse]

No August doldrums in DC this week! It was great to join the inaugural @CFTC Innovation Advisory Committee (a group I've called "the Olympic roster of crypto.") But for a “crypto” gathering, there were a LOT of TradFi players in the room like @NASDAQ, @CMEGroup, @CBOE, @OptionsClearing, @NYSE, @The_DTCC (alphabet soup!)

Everyone was in agreement. Rules written for a different era aren’t good enough. Not for consumers. Not for business. Not for innovation.

I made this case in an open letter to Congress back in 2019. Seven years later, we STILL need clear rules…. Thanks to the Trump administration, appointees like @ChairmanSelig, and a myriad of bold leaders in Congress, we’ve never been closer.

https://t.co/PS1W516Xk5

[Cointelegraph @Cointelegraph]

🇺🇸 UPDATE: The odds of the Clarity Act becoming law in 2026 have fallen to 16% on Polymarket.

[Cointelegraph @Cointelegraph]

⚡️ JUST IN: Strategy bought no Bitcoin last week, holding 843,775 BTC.

It raised $263.5M through $MSTR share sales.

[Bitcoin Magazine @BitcoinMagazine]

NEW: 🇺🇸 $13 trillion Charles Schwab says the CLARITY ACT is a "really important fundamental catalyst" and "needs to pass" 👀

[Cointelegraph @Cointelegraph]

🇺🇸🇮🇷 JUST IN: US forces have started strikes on Iran in response to attacks on three commercial vessels transiting the Strait of Hormuz.

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: 🇷🇺 Russia passes law that "regulates the circulation of digital currencies and digital rights in Russia for the first time," TASS reports 🚀

[Cointelegraph @Cointelegraph]

🇺🇸 TODAY: President Trump says oil prices are going down but “we may have to send it up again.”

[CoinDesk @CoinDesk]

Patrick Witt says the CLARITY Act is "not a giveaway" to the crypto industry, arguing the bill places new burdens and responsibilities on crypto companies rather than easing regulation. He adds opponents of the bill are effectively arguing to keep crypto markets less regulated.

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: 🇺🇸 Sen. Rick Scott says Sen. Lummis has "Worked her butt off with the Clarity Act" and urges the Senate to stay and pass the bill:

"We’ve got to figure out how do we get these things done…We’ve got to stay here and start talking to each other.”

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 US national debt officially reaches all-time high of $39.5 trillion.

[Senator Cynthia Lummis @SenLummis]

We both want bad actors held accountable. The difference is I’m working on solutions, you’re shouting into the void hoping the status quo fixes itself.

Sec. 303 enables new crypto sanctions on Iran.

Sec. 305 lets exchanges stop illicit funds before they reach North Korea.