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XRP opened Monday around $1.41. Then the short sellers got squeezed, and by early Wednesday it had run all the way to $1.66. It ends the week at $1.53, up 9%. The mood across crypto is greedy, and people are FOMOing back in. Midweek, US bond yields jumped to their highest since 2007 and took some of the heat out of the move. For all that, XRP is still 58% below its all-time high.
In Washington, the CLARITY Act is still stuck after failing in the Senate earlier this month. So is it dead? Not quite. There is no second vote on the calendar, and the SEC and the CFTC have started writing crypto rules without it. The lead story takes the questions everyone has been asking, one at a time.
Then there’s Bitget. Hackers walked off with a pile of the exchange’s XRP, and nobody can freeze it, Ripple included. Meanwhile, the spot XRP funds started taking money again after a flat Monday.
The Consensus
⚖️ The CLARITY Act is stalled, with no second vote scheduled and the SEC and CFTC writing crypto rules without it.
🔓 A hack at Bitget took about 103 million XRP, and no company can freeze the stolen coins on the ledger.
💰 The XRP funds took $75.6 million from Tuesday to Friday, and all of it went to Bitwise and Franklin.
The Numbers
The Chart Watch
The Ripple Effect
⚖️ The CLARITY Act Is Stalled, So the SEC and CFTC Are Writing the Rules
The CLARITY Act needed 60 votes in the Senate on Tuesday 15 September. It got 49. Every Democrat who voted said no, including the 7 who had spent months negotiating the text. Republicans added 4 more no votes. Thom Tillis cast one of them on purpose. Senate rules only let a senator on the winning side ask to reconsider a vote, and Tillis wanted that door kept open (Senate Daily Press).
The fight to the end was over ethics. The final text barred federally elected officials, judges and their spouses from issuing or sponsoring digital assets. Democrats wanted it to reach officials’ wider families. Their last counter-offer was turned down before the vote (Senator Lummis, Crypto Times).