--- title: 'Crypto Holders: The Final Hour' source: 'https://youtube.com/watch?v=IGoggj4ZA0Q' video_id: 'IGoggj4ZA0Q' date: 2026-08-06 duration_sec: 570 --- # Crypto Holders: The Final Hour > Source: [Crypto Holders: The Final Hour](https://youtube.com/watch?v=IGoggj4ZA0Q) ## Summary The video discusses the urgent timeline for the Crypto Clarity Act to pass in the US Senate before the August recess, highlighting the political negotiations and consumer protection concessions. It also covers Bitcoin's rise to a one-month high, Cardano's Van Rossum hard fork, and other crypto market updates. ### Key Points - **Crypto Clarity Act Urgency** [00:01] — The Crypto Clarity Act has 14 working days left to become law; must reach Senate floor next week before August recess on August 7th. Ethics provisions unresolved, no vote scheduled, bill text unreleased. - **Former SEC Official's Support** [00:46] — Former SEC official argues the bill creates a comprehensive federal framework for crypto, imposing regulation for the first time, benefiting investors, innovators, and the US. - **Senate Bill Details** [01:28] — Senate hasn't released its version; whoever writes the first draft sets the tone. Democrats have obtained concessions: illicit finance framework, closing FTX loophole, insider trading safeguards, more disclosure. - **Crypto Classification** [03:08] — No fundamental change in classification; registration, examination, surveillance infrastructure from House bill remains, with added teeth for customer protection. - **Bitcoin Price Movement** [03:52] — Bitcoin rises to one-month high of $65,400, indicating seller exhaustion; buyers may pick up. Andrew Cuomo joins OKX board to educate mainstream on tokenization. - **Cuomo on Crypto Misconceptions** [04:35] — Cuomo says biggest misconception is crypto as tokens/memes; real contribution is financial infrastructure and technology, faster and cheaper, enabling 24/7 trading and fractional ownership. - **Cardano Van Rossum Hard Fork** [06:04] — Cardano moved to version 11 via Van Rossum hard fork, first upgrade approved by community, not IOHK. Lowers smart contract costs, lays groundwork for scalability. - **Hyperliquid Prediction Markets** [07:34] — Hyperliquid plans decentralized prediction markets via HIP-4, first on testnet then mainnet. Regulatory acceptance in US uncertain. - **Bitmain Slows ETH Purchases** [08:03] — Bitmain (BMNR) added only 7,000 ETH ($14M) last week, slowing purchases as it buys back $86M of own stock. Stock up 2.4% pre-market; potential bottoming signal. ### Conclusion The Crypto Clarity Act faces a critical deadline, with potential to reshape crypto regulation. Market signals suggest a possible bottom, but regulatory clarity is essential for long-term growth. ## Transcript bill is not whether everyone gets what they want. It's whether ultimately Americans will be better protected >> Justin, the Crypto Clarity Act has just >> Justin, the Crypto Clarity Act has just 14 working days left to become law. The bill must reach the Senate floor next week before lawmakers leave for the August recess. That's August 7th, they go on to break. As it stands today, ethics provisions remain unsolved while no vote has been scheduled and updated bill text remains unreleased. Without a vote next week, the path to Trump signing Clarity into law could close. Listen to former SEC official on CNBC react. >> Americans will be better protected compared to the status quo and there's actually no meaningful debate in that space. This is going to create a for the first time a comprehensive federal framework and oversight over the crypto space and Joe, I think it's important to remember it's not about no regulation. This is about imposing regulation on the industry for the first time and so you have a unique opportunity for the trifecta win-win-win. American investors, American innovators, and get this bill passed. >> What will be in the Senate bill that Democrats want? >> And of course, we know that it's all in the details. The Senate still hasn't dropped their version. Whoever writes the first draft basically sets the tone of the whole fight. >> What will be in the Senate bill that that was not in the House bill that >> Well, interestingly, in the last few weeks and months, we've seen the Democrats obtain meaningful concessions to strengthen the consumer protection provisions of this bill. You have an illicit finance framework that's been created. You have an FTX loophole that's being closed to prevent things like FTX from happening again. You have insider trading safeguards and more disclosure. So, really across the board the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that >> And while I do want to discuss the latest news involving Bitcoin, involving Cardano, involving altcoins, and more, watch today's full video. Let's take 30 seconds and thank exchange partner Kalshi, a CFTC regulated way to trade perpetuals. Kalshi is CFTC regulated, the first US company to offer perps, and for a limited time, use code altcoin and trade $25 for the chance to earn up to $500. Subscribers will remember that I actually shared with you a video how to start trading perps as a beginner in 2026 in under 12 minutes. Highly recommend, link below. And with so many coin options, Kalshi is one of the best places, I believe, to trade perpetuals in a regulated way. Again, use code altcoin, link down below to earn up to $500. Because as you're trading, keep in mind, summer recess begins August 10th through September 11th. So, everything comes down to the next 14 working days. >> Will there be a change to how crypto is is classified in terms of commodities, >> Not not fundamentally. I mean, first and foremost, you're still going to have the registration, examination, and and surveillance infrastructure that was part of the House bill. But, when the Democrats what they have done in in these additional negotiations is make sure that you have more teeth ultimately better protected cuz at the end of the day, this is about customer protections. The status quo lacks this infrastructure, lacks these protections, and the Democrats used this opportunity wisely to make sure that customers were >> And it's interesting because even in this uncertainty of yes or no for the Clarity Act, Bitcoin rises to one month high of $65,400. This tells me that sellers, most of them are exhausted. Sellers have have stepped out of the market. We're still waiting to see if the buyers can pick up from here, and nobody makes a better case, I believe, than former New York Governor Andrew Cuomo, who just announced he's joining the OKX crypto exchange board of directors, and he's starting to educate the mainstream why tokenization, crypto as a technology, that's undeniable. That's only getting >> I think the biggest misconception was uh that crypto was seen as tokens, memes. It sort of got a bad name. There were certain bad actors in the crypto space, uh which is true. There wasn't enough regulation, uh and when there's no regulation, uh and when there's no regulation, uh people will create fouls. People will play outside the lines, and that happened. But the real contributions of crypto is not is not that. It's the financial infrastructure, the technology that they developed. It is faster. It is cheaper. Just imagine a world, Maria, where you can trade stocks 24/7 >> Um and literally trillions of dollars literally trillions of dollars internationally could be invested into internationally could be invested into the US economy, into our exchange. Uh now tokenization says you can have fractional ownership. You you can have fractional ownership. You can have a digital uh representation of that asset. So you can buy a tenth of one stock. You can buy half of one stock. Um and the transactions digitally are >> Mhm. >> Uh, and again, the technology advancements are the way to keep our financial system safe, and it will also be growth for the US economy. >> And speaking of growth, this is positive news for Cardano holders. Inside Cardano's Van Rossum hard fork and what it means for users. So, the Van Rossum hard fork moved Cardano to version 11 on Saturday. So, it happened. And for the first time, Cardano's community voted in the upgrade, not the company that built it. So, the people made this happen, not a development foundation or a company behind it. Cardano activated its Van Rossum hard fork on Saturday, moving the mainnet protocol to version 11. The technical changes lower smart contract costs and lays groundwork for work for an upcoming scalability overhaul. So, Cardano more scalable. But, a more consequential change is who directed the upgrade. For the first time in Cardano's history, it was not IOHK or Input Output, the engineering firm that designed and built the blockchain. Instead, it is the first Cardano upgrade approved end-to-end by the network's own participants, rather than its creator. I think showing a bit of a differentiator between what Cardano is aiming its value proposition to be versus maybe in Ethereum, which is still largely controlled not all the way, but largely controlled by the Ethereum Foundation and Vitalik Buterin. What Vitalik says the industry Ethereum uh, ecosystem industry tends to move towards. And if you like Hyperliquid, you like this. Hyperliquid plans to add decentralized prediction markets in their upgrade HIP, Hyperliquid Improvement Proposal 4. Permissionless prediction markets will become available first on testnet and later on mainnet, Hyperliquid said. Which is all around positive. The only underlying question is, how will regulators deal with this? Will they be accepted in the United States? Or will they be pushed offshore? Time will tell. I think there's a place in crypto for both, the regulated permissionless more and more will have to live in the shadows. And in a bit of a bottoming signal, Tom Lee's Bitmain have slowed their ether purchases as it buys back $86 million in their own stock. So, the company added just 7,000 plus Ethereum worth around $14 million last week as it nears its goal of corner cornering 5% of ETH supply. Now, the market liked this. The market liked that they were building up or I'm sorry, they were buying more of their own stock, BM and R. Of course, they liked it. BM and R was 2.4% higher in pre-market trading because if you buy back the stock, stock tends to tick up. That makes sense. And the reason I say potential bottoming signal is because if their stock is so low cuz the way Tom Lee's Bitmain was able to buy Ethereum is cuz he was sell he would sell down the common stock, I The market wasn't having it. So, when the stock gets too low, the obvious decision is to buy it back. Tends to start be a start of a bottoming signal Saylor eventually have to sell some Bitcoin. Now, Tom Lee may never get there. He He didn't have to sell any Ethereum. He just bought at a slower pace or is buying at a slower pace. But, these sort of things happen more towards the bottom than towards the top, I believe, in my 9-plus years of crypto. I will keep you updated. Click subscribe to Altcoin Daily for one video per day to Altcoin Daily for one video per day keeping you informed.