Jiang Zhuoer: The CLARITY Act has only a 10% to 20% chance of passing, with major disagreements on ethical provisions persisting between the two parties.
Jiang Zhuoer, founder of BTC.TOP, stated in a post that the Clarity Act has only a 10% to 20% chance of passing, with major disagreements persisting solely on its ethics provisions. The proposal agreed by Trump only restricts the president and their spouse from engaging in crypto asset issuance, while Democrats demand including other family members and family entities in the restrictions. The two sides also failed to reach an agreement on law enforcement authority: Trump supports the U.S. Department of Justice (DOJ) being responsible for prosecuting violations, but Democrats argue the Attorney General is appointed by the president and demand granting state attorneys general the right to prosecute as well. Jiang believes that fully accepting the Democrats’ proposed restrictions would leave Trump with little incentive to sign the bill. Apart from the ethics provisions, multiple disagreements also exist in other parts of the legislation. The U.S. Congress will adjourn on August 7, with only around 10 working days remaining, leaving the procedural timeline extremely tight and making it difficult to bridge major divides before adjournment. He added that Congress’s session from September 14 to October 5 falls near the midterm elections, and lawmakers must also handle budget and appropriations agendas, with even a potential government shutdown risk. Democrats also lack the political incentive to push the bill through before the elections.
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Bitget has completed dividend distributions for 63 stocks including Micron Technology and TSMC.
According to an official announcement, Bitget has completed the dividend distribution for 63 US stocks and ETFs, including rMU (Micron Technology), rQQQ (Nasdaq 100 Index ETF), and rTSM (Taiwan Semiconductor Manufacturing Company, TSMC). The platform has settled USDT dividends proportionally for users who held the relevant assets at the snapshot time, with the entire process automated—no user action is required. This distribution covers multiple asset categories including technology, semiconductors, communications, and index ETFs. Users can check specific details via: in the App, navigate to "Assets" → "Financial Records" → "Spot" → "Other" → "Dividends"; or on the Web, go to "Asset Overview" → "Spot Orders" → "Fund Flow" → "Other" → "Dividends". The final credited amount and timing shall be subject to the platform’s actual credit and page display.
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Analyst: If ETH holds the $1,850 support level, it may rebound to $2,060.
Crypto analyst Ali Charts posted that Ethereum rebounded after testing the lower boundary of its price channel. The current key support level stands at $1,850; as long as this level holds, Ethereum could rally back toward the channel’s upper boundary, around $2,060.
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CXMT is 3 days away from its IPO, as newly opened whale positions partially cut their CXMT long positions.
According to Hyperinsight monitoring, CXMT on Hyperliquid is currently trading at $6.4658, down roughly 0.8% over 24 hours, equivalent to ~￥43.93. This is 5.07 times the ￥8.66 IPO price of Changxin Technology, representing a ~407% premium. Changxin Technology is set to list on the STAR Market on July 27 (next Monday), with stock code 688825. Its total post-IPO share count is ~668.81 billion, of which ~45.03 billion shares will be tradable from the first day of listing. Calculated at CXMT’s current price, its implied market cap is ~￥2.94 trillion, ~￥2.36 trillion higher than the IPO valuation of ￥579.188 billion. CXMT futures launched on July 15, hitting a high of $8.64 (~￥58.70) from $6 on its first day, at one point trading at a 577.8% premium to the IPO price, with its implied market cap once approaching ￥3.93 trillion. The current price has fallen 25.2% from that peak, but remains 7.8% higher than its launch price. Open interest for CXMT on the platform stands at ~$50.1 million, with 24-hour trading volume of ~$11.566 million. On the address front, the largest existing position is held by address 0xf29, which is short $8.53 million worth of CXMT at 1x leverage, with an average entry price of $6.6, unrealized profit of $170,000, and liquidation price of $15. Meanwhile, the largest recent million-dollar position (a whale address starting with 0x8e09) has started reducing its long positions; after 13:00 today, it sold a small portion of 30,000 units. As of press time, this address still holds 204,100 CXMT long positions in isolated mode at 5x leverage, with a position value of ~$1.19 million, average entry price of $6.57, unrealized loss of ~$17,000, and a return of ~-7.9%. Although this position is marked as 5x leverage, it has posted ~$1.196 million in isolated margin, resulting in an effective leverage of only ~1.1x; it is currently labeled "Hanba Xiaolong" on Hyperliquid.
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