News: Executives from Coinbase, a16z, Ripple & Chainlink plus Kalshi & Paradigm (a Kalshi backer) as well as Digital Chamber are among those expected to attend Wednesday's meeting at the WH, people familiar with it tell me. Trump plus Selig & Atkins are also expected to partake, some of the people said, but it's unclear whether all will. The people described Wednesday as a kick-off for the inaugural meeting of CFTC's 35-person Innovation Advisory Committee on Thursday, which organizers had initially hoped to host at the WH earlier in the summer.

🚨NEW: The @SECGov will hold an open meeting on Friday at 10AM ET to consider whether to issue a release proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets.

🚨NEW: Leader Thune’s office is telling crypto industry leaders today that the majority leader still intends to file cloture on the motion to proceed to the Clarity Act before lawmakers leave for August recess, per multiple sources. The move would tee up a vote on the Clarity Act in September and is being viewed as a positive signal that GOP leadership intends to make the bill a priority when the Senate returns. But there’s work to be done between now and then. Negotiators will need to find the votes that currently aren’t there, starting with finding a path forward to resolve the disagreements over yield, which has reemerged as a front-and-center issue following the WSJ op-eds and as banks have made significant inroads in persuading Republican members that the language needs to be changed. And, of course, securing a palatable bipartisan ethics agreement. Still no word from the White House, sources say, though there’s clearly less urgency to respond now than there was earlier in the week.

Leader Thune filed cloture on the motion to proceed to Cal. #423, H.R.3633, Clarity Act.

News: Sens. Cynthia Lummis (R-Wyo.) and Bernie Moreno (R-Ohio) became co-sponsors of the Credit Card Competition Act tonight, according to a filing we obtained Lummis and Moreno are infuriated with the banking industry for helping delay the Clarity Act / creating GOP problems

This morning, my role at Bitwise was impacted as part of a company-wide layoff. I’m incredibly grateful for the opportunity to help build one of the most respected brands in crypto alongside an exceptionally talented team. I’m proud of everything we accomplished together and wish the entire Bitwise team continued success. As for what’s next: I’m excited to find my next opportunity. I bring 10 years of experience leading communications for high-growth technology companies, along with 13 years of hands-on experience using, investing in, and following the crypto ecosystem. That combination has given me a deep understanding of both the technology and the communities that drive it. If you know of a team looking for a communications leader, I’d love to connect. Feel free to reach out or share this with your network.

🚨NEWS: The Senate has decided to punt a vote on the Clarity Act until September, per Politico.

NEWS: Thune just confirmed our scoop that Senate is punting clarity vote until September Said they would get it teed up for when they return

🚨NEW: Crypto policy folks remain in what one industry source described to me as a “weird limbo,” even as the White House has now started engaging on the Tillis-Gallego bipartisan ethics counteroffer. Behind the scenes, I’m told there’s been an intense effort this week from some of the President’s closest supporters to make the case for an ethics agreement. Meanwhile, negotiations continue on other outstanding issues, with the White House taking the lead on BRCA discussions in an effort to get remaining law enforcement holdouts to a better place.

Leader Thune filed cloture on the motion to proceed to Cal,. #449, S.4668, Protect College Sports Act of 2026.

Uh oh: Senate eyeing potential midnight-ish vote tonight amid impasse over a time agreement on the CR. GOP Sens. Budd, Ricketts & others are blocking fast-tracking the CR because they want a vote on their amendment to strip out the provision delaying the hemp ban. Tonight’s vote would be on the motion to proceed to the shell bill (simple majority) when the 30-hour post-cloture time expires.