FlashFeed

Full text

Bitcoin Magazine

Coinbase Executive Says Clarity Act Has ‘Tremendous Momentum’ in the Senate

Coinbase Vice Chair Ryan VanGrack said the Clarity Act has gained “tremendous momentum” in the Senate, in a CNBC “Squawk Box” appearance that made the case for a federal crypto framework and touched on bitcoin, blockchain, and the industry’s uneasy truce with Wall Street.

VanGrack, a former SEC official, framed the Clarity Act as an overdue set of rules rather than a giveaway. “It’s not about no regulation,” he said. “This is about imposing regulation on the industry for the first time.” He described a “win-win-win” for American investors, innovators, and standards should the measure pass, and said a bipartisan group of senators has kept up work “even in the last few weeks and days.”

Clarity Act updates

The House passed its version of the Clarity Act last year, and attention has shifted to the Senate, where the path to 60 votes remains the central hurdle.

The Senate Banking Committee advanced the bill in a 15-9 vote this spring, with two Democrats crossing over, and House members have urged the Senate to act before the August recess. The measure sits in a narrow window as negotiators work out remaining terms.

President Trump added his voice last week, posting on Truth Social in support of Senator Lindsey Graham and calling on the Senate to pass the bill. Trump framed the stakes in terms of competition with China, a message he has repeated as he presses the chamber to move .

VanGrack said Democrats have won concessions that strengthen the bill’s consumer protections.

JUST IN: Coinbase Vice Chair talks CLARITY ACT on CNBC

"The Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill, THAT much stronger" pic.twitter.com/y3n04dKdRi

— Bitcoin Magazine (@BitcoinMagazine) July 20, 2026

He pointed to an illicit-finance framework, an “FTX loophole” that the text would close, insider-trading safeguards, and added disclosures.

“Across the board, the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that much stronger,” he said.

He said the bill would not change how crypto is classified as a commodity or a security in a fundamental sense, and would preserve the registration, examination, and surveillance structure from the House version.

Asked how the industry reconciles with skeptics like JPMorgan chief Jamie Dimon, VanGrack pointed to a wave of bank and institutional deals.

“Not a week goes by,” he said, where a firm fails to announce a new crypto project or investment. He predicted an “inevitable convergence,” a point at which the market stops separating traditional finance from crypto and treats each as a modern financial institution.

That convergence has played out in public, and in conflict. JPMorgan and Coinbase announced a partnership to widen crypto access, and the bank has moved to accept bitcoin as loan collateral and to let clients trade it .

Dimon, for his part, has declared war on the Clarity Act and aimed a crude insult at Coinbase CEO Brian Armstrong, a reminder that the détente carries friction.

Is bitcoin real?

The interview turned to a sharper question from CNBC’s Andrew Ross Sorkin: whether blockchain is real but bitcoin is not. VanGrack called it “a fair question” and said the technology’s benefits stand on their own — faster settlement, more transparency, and round-the-clock transactions.

He argued that no one building a financial system today would recreate the infrastructure of the past century. He cited Citadel Securities, which he said made another large investment in the crypto economy last week, as a sign that major institutions are trending the same course.

Sorkin pressed the harder edge of the design: the technology aims to remove the counterparty a customer might call when something goes wrong. VanGrack conceded the point as fair, then countered with the costs of the current system — days to reconcile trades and the counterparty risk that delay creates.

“I’m not here to tell you it’s the wrong technology,” he said. He acknowledged open questions, including whether crypto accounts should carry interest or loyalty rewards, a debate that bankers have raised and that the law will settle as “a blunt instrument.”

He closed on the case for Clarity Act passage. “In the absence of clarity, you do not have a federal oversight and framework,” he said. “So whether you love crypto or hate crypto, you should want” the Clarity Act.

This post Coinbase Executive Says Clarity Act Has ‘Tremendous Momentum’ in the Senate first appeared on Bitcoin Magazine and is written by Micah Zimmerman .

Full text

Spider-Man: Brand New Day director Destin Daniel Cretton says Insomniac's Spider-Man games inspired some of the stunts in the new movie.

"I am not a gamer, but I've played the game, but I surrounded myself with people who were obsessive gamers," Cretton told Polygon , when asked if he referenced Insomniac's Spider-Man video games while making the film. "So a lot of the people in our stunt department loved playing those video games. So they would do screen grabs of their play and bring it in and say like, 'Can we pull this move off?' So that was a great inspiration for things."

Marvel's Spider-Man is a video game franchise created by Insomniac Games and published by Sony Interactive for PlayStation and Windows. The incredibly popular and well-received games include Marvel's Spider-Man, Marvel's Spider-Man: Miles Morales, and Marvel's Spider-Man 2... and they're fun as heck, too.

It doesn't surprise me that some of the wildest shots from the games would serve as inspiration for the new film. In the games, Spidey can launch himself like a slingshot, nose-dive from a skyscraper before activating his web, slingshot between sections of a collapsing bridge, and launch himself through a glass window. Given that Peter has some new, uh, abilities in Spider-Man: Brand New Day, we're ready for some brand new moves.

The new movie sees a down-on-his-luck Peter Parker wrestle with his new abilities while taking on a new, seemingly invincible threat while still being forgotten by his best friends and the world at large.

Spider-Man: Brand New Day swings into cinemas on July 31 in the US and July 29 in the UK. For more, check out our guides to upcoming Marvel movies and how to watch the Marvel movies in order .