The Senate is set to advance Todd Blanche's nomination for attorney general after Senators John Cornyn and Thom Tillis reached a deal with the DOJ to formally terminate the 'anti-weaponization fund' and clarify its scope, addressing concerns that had stalled his confirmation.
Donald Trump's controversial $1.8 billion 'anti-weaponization fund,' intended for political allies and Jan 6 rioters, has been officially rescinded by Attorney General nominee Todd Blanche. This move secured the votes of Republican Senators Thom Tillis and John Cornyn, clearing Blanche's path to confirmation.
The Digital Asset Market Clarity Act (CLARITY) faces dwindling passage odds before the US Senate's summer recess, potentially triggering a negative market reaction for Bitcoin and broader crypto, according to Bernstein. However, this failure might also spur proactive regulatory support from the CFTC and SEC.
The U.S. Senate reconvenes with Todd Blanche's confirmation hearing on the agenda, as Blanche rescinded a controversial 'anti-weaponization fund' plan. Separately, President Trump announced a deal to cancel planned attacks on Iran, causing oil prices to drop, while the DOJ's use of a Civil War-era statute and Capital One's closure of Trump Organization accounts are also in focus.
The CLARITY Act faces an uncertain path in the Senate during its final week before the August recess, with ongoing disputes over government ethics and stablecoin rewards. Prediction markets indicate low odds of the bill becoming law this year, potentially pushing the legislative fight into September.
Acting Attorney General Todd Blanche officially terminated President Trump's "anti-weaponization fund" via a memo, ahead of his Senate confirmation vote. The fund, intended for those targeted by previous administrations, faced criticism from Republican senators who feared it would compensate January 6 assaulters, despite Trump's defense of the fund.
Coldcard users lost $90M in Bitcoin due to an exploit, driving small investors to exchanges. US crypto legislation faces hurdles over enforcement and Trump's profits. Major crypto firms reported losses, yet analysts predict market consolidation is bullish. Telegram founder Pavel Durov faces international legal action from Russia and Australia.
The Michigan Democratic Senate primary between Abdul El-Sayed and Haley Stevens is dominated by record spending from pro-Israel groups like AIPAC, exceeding $60M. El-Sayed, critical of Israeli policies, faces a significant financial challenge, highlighting the influence of dark money in US elections and potentially impacting the Democratic Party's stance on Israel.
The Senate's Monday schedule lacks action on the CLARITY Act, a crypto market-structure bill, leaving its path uncertain ahead of an August recess. Procedural hurdles like cloture votes and bipartisan petitions are discussed, with an unclear vote count among senators.
Rep. Jim Jordan evaded questions on CNN about Donald Trump's proposed $1.776 billion "weaponization fund" for DOJ-prosecuted individuals, despite Trump's intent to revive it. This puts Jordan at odds with Senate Republicans who view it as a "slush fund" and oppose Todd Blanche's confirmation until the fund is ruled out.
Michigan's Arab American community, deeply affected by events in Lebanon and Palestine, is rallying behind Abdul El-Sayed in the Democratic Senate primary. El-Sayed, who denounces US support for Israel, faces significant spending from pro-Israel groups like AIPAC, highlighting a growing rift within the Democratic Party.
Darline Graham made her political debut in South Carolina, seeking her late brother Lindsey Graham's Senate seat in an August 11 special primary. Backed by President Trump, she faces well-known GOP figures, emphasizing her real-world understanding and commitment to Trump's agenda.
Michigan's open Senate seat primary features two Democratic millennial candidates, Abdul El-Sayed and Haley Stevens, whose differing platforms on issues like healthcare and foreign policy highlight the party's internal struggle between progressive and moderate wings, with national implications for Senate control.
A Senate committee hearing reignited political divisions over the US response to COVID-19, with Republicans criticizing Anthony Fauci and reviving the Wuhan lab leak theory, despite no conclusive evidence.
US Treasury Secretary Scott Bessent urged the Senate to pass the Clarity Act, accusing Democrats of political delays and warning the US risks losing its digital asset leadership without clear regulation. The bill aims to establish a federal framework for crypto markets.
The Senate Judiciary Committee postponed voting on Todd Blanche's nomination as U.S. Attorney General due to concerns from Republican Senators John Cornyn and Thom Tillis over the DOJ's settlement with President Trump, which Blanche oversaw.
Jay Clayton, a former Wall Street lawyer and federal prosecutor with no traditional intelligence background, has been confirmed as the next US Director of National Intelligence (DNI) in a 51-47 Senate vote, prompting concerns over his approach to the role.
Dr. Anthony Fauci invoked his Fifth Amendment right against self-incrimination at a Senate hearing, refusing to answer questions from Senator Rand Paul regarding the COVID-19 pandemic response and alleged perjury, citing potential prosecution.
XRP's price hangs in the balance as the US Senate shelves the Clarity Act, crucial for its commodity classification, and the market awaits the Fed's rate decision under new Chair Kevin Warsh.
Anthony Fauci, były dyrektor NIAID, odmawia odpowiedzi na pytania senackiej komisji, korzystając z piątej poprawki do Konstytucji USA, odrzucając oskarżenia o finansowanie badań w Chinach, które mogły doprowadzić do pandemii COVID-19.
Senate negotiations on the CLARITY Act are stalled over ethics language limiting profits from digital assets for senior officials, including the President and Vice President, with Democrats seeking stronger restrictions to secure their votes.
Dr. Anthony Fauci invoked the Fifth Amendment during a Senate hearing led by Sen. Rand Paul, refusing to answer questions about his handling of the COVID-19 pandemic, citing potential self-incrimination. This move followed years of accusations by Paul that Fauci lied about the pandemic, which Fauci termed 'preposterous'. Meanwhile, the U.S. Postal Service faces scrutiny over its ability to deliver mail ballots on time ahead of the midterms.
SEC Chairman Paul Atkins warns the agency will establish its own crypto market rules if Congress fails to pass the Clarity Act, emphasizing the need for statutory certainty over administrative actions.
Dr. Anthony Fauci invoked the Fifth Amendment during a Senate hearing, refusing to answer questions about his role in the US COVID-19 response, citing legal advice. The hearing, led by Senator Rand Paul, focused on alleged misleading statements about the pandemic's origins and US-funded research in Wuhan, China.
