Markets
July 12, 2026
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- President Donald Trump urged the Senate to pass the CLARITY Act, calling it essential to keeping the US competitive in crypto and AI
- The US government transferred nearly $288 million worth of seized Bitcoin and Ethereum to Coinbase Prime, according to Arkham Intelligence
- The developments come as lawmakers prepare for the CLARITY Act’s expected Senate push later this month
President Donald Trump has renewed his push for the CLARITY Act at a time when Washington is already looking for the crypto market’s attention. Amidst Trump’s call for lawmakers to act, blockchain data revealed that the US government transferred nearly $288 million worth of Bitcoin and Ethereum to Coinbase Prime. These developments point to US crypto policy and federal digital asset holdings back in focus just as the Senate prepares for a key vote.
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Trump Pushes Senate to Pass the CLARITY Act
In a post on Truth Social, Donald Trump urged the Senate to approve the CLARITY Act. He argued that the legislation is essential for maintaining the country’s leadership in both crypto and artificial intelligence. He warned that China is aggressively pursuing dominance in the two sectors and called on lawmakers to move the bill forward without delay.
Trump’s appeal comes as the CLARITY Act bill enters a critical phase. Patrick Witt, one of the White House’s lead negotiators on digital asset policy, is expected to leave Washington for military training before the Senate takes up the legislation. While the administration has said work on the bill will continue, his temporary departure has raised questions about whether negotiations could slow during a pivotal stage.
Prediction markets are also reflecting that uncertainty. On Polymarket, traders currently assign roughly a 37% probability that the CLARITY Act will become law this year. This suggested that investors remain cautious despite growing political support.
The legislation is designed to establish a clearer regulatory framework for digital assets by defining the responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Supporters have argued that the measure would reduce regulatory uncertainty, encourage innovation, and provide clearer rules for companies operating in the US.
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US Government’s $288M Crypto Transfer Draws Attention
While lawmakers debate the future of crypto legislation, on-chain activity involving the US government’s Bitcoin holdings also caught investors’ attention. According to blockchain intelligence platform Arkham Intelligence, the US government transferred approximately $288.3 million worth of Bitcoin and Ethereum to Coinbase Prime. The assets originated from cryptocurrencies seized in separate criminal investigations. This includes cases involving Brian Krewson, BTC-e, and Ryan Farace.
Although transfers to Coinbase Prime often spark speculation about potential sales, the movement does not confirm that the government intends to liquidate the assets. Federal agencies have previously used Coinbase Prime for custody and asset management services. This means such transfers can occur for operational reasons.
But the timing is what drew attention because it coincided with Trump’s renewed support for the CLARITY Act.
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