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The crypto industry's top legislative priority, the Digital Asset Market Clarity Act, doesn't appear to be high on the Senate's to-do list, even as what many see as its best window for passing this year inches to a close. Majority Leader John Thune is steering floor time toward federal nominations, government funding and a Russia sanctions bill with recess less than two weeks away, according to multiple reports.

Senate rules generally allow only one contested bill at a time, so Clarity likely won't reach a vote before next week, the last stretch before the August 8 summer recess.

If Clarity misses this window, its next real shot slips to September, narrowing the odds it becomes law this year. Negotiators still haven't closed the fight over barring senior officials, including President Trump, from crypto ventures. Trump agreed last week to accept limits, but Democrats say they don't go far enough.

Bitcoin dropped to roughly $63,000 early on Tuesday dragging ether, XRP, and solana down with it. The drop coincided with South Korea's Kospi catering nearly 11% to its lowest level since April on heavy selling in chip giants Samsung and SK Hynix.

The jitters set up a tense week: the Federal Reserve decides interest rates Wednesday, with key inflation and growth data landing Thursday. Declining odds of the Clarity Act passing have also added to the cautious mood.

Strategy has now gone five straight weeks without buying bitcoin. Instead of adding to its 843,775 BTC, the company sold $544.5 million of MSTR stock last week and funneled the cash into its dollar reserve, which now sits at $3.75 billion.

Saylor says that reserve covers about 2.1 years of dividends on Strategy's preferred shares. The pivot follows the company's largest-ever bitcoin sale between late June and early July and a June overhaul of its financing playbook. With bitcoin near $63,000, well below Strategy's $75,476 average cost, the firm is playing defense ahead of Thursday's second-quarter earnings.

Circle has acquired nearly 1,000 blockchain patents from IBM, a deal the stablecoin issuer says makes it the largest holder of such patents in the United States. The portfolio spans more than 680 patent families covering blockchain, banking, insurance, supply-chain verification, and cloud security, the company said. Terms were not disclosed.

Circle plans to use the IP to reinforce USDC, its Arc blockchain, and payment tools built for AI agents, and the two companies said they may pursue further deals. The purchase comes after Circle won federal approval for a national trust bank, extending a fast regulatory and strategic build-out.

Wall Street and crypto both want to put real-world assets onchain. So who writes the rules?

Salman Banaei, General Counsel of Plume and a veteran of the CFTC, SEC, and Uniswap Labs, joins the DEX in the City crew  to dig into the legal machinery behind tokenizing everything from solar farms to mineral rights.

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