Bitcoin Magazine

President Trump To Meet Senators On Clarity Act’s Ethics Fight: Report

President Donald Trump plans to meet with a group of senators at the White House on Thursday afternoon to address the last major obstacle to the crypto market structure bill, according to people familiar with the plans that spoke to Politico and lawmakers involved in the talks.

The sticking point is the ethics section of the Digital Asset Market Clarity Act, which would restrict senior government officials from holding personal business interests in the crypto sector. Democrats have made such limits a condition of their support, in large part to address Trump’s own ties to the industry. 

Negotiators have not reached a compromise, and the Senate calendar leaves a narrow window.

Senator Bernie Moreno, an Ohio Republican in the negotiations, said the senators will brief the president on the bill and its “path to success.”

“We’ll be talking about the entirety of the bill. I mean, obviously the president’s been very engaged in this bill,” Moreno said. “He’s the one who’s really driven the innovation that I think will pay dividends.”

Trump’s crypto disclosures as the Clarity Act teeters

Clarity’s fate may hinge on what Trump will accept, and on whether he will support a bill that restricts his own businesses. He has pressed the Senate to pass the legislation, though he has not stated which conflict-of-interest terms he will sign into law. His disclosure that he made more than $1 billion from crypto involvement in 2025 gave critics fresh ammunition.

The bill cleared the Senate Banking Committee in a 15-9 vote, with Democrats Ruben Gallego and Angela Alsobrooks joining Republicans to advance it. Both said in May they would not back final passage without an ethics provision. During the committee markup, an amendment from Senator Chris Van Hollen to bar the president, vice president and members of Congress from crypto business ties failed 11-13.

On Tuesday, a group of Democratic senators held a press conference to call for opposition to Clarity if it does not sever what they term Trump’s “corrupt” ties to the sector. Gallego, who has led the ethics negotiation for months, was not among them.

Timing on the revised text remains open. Senator Cynthia Lummis, a Wyoming Republican and a chief architect of the bill, said a draft could circulate as soon as Wednesday, but that senators were weighing whether to include the ethics language or bracket it for later.

Senate Majority Leader John Thune said he hopes to bring the bill to the floor before the work period ends August 7. Asked whether he would hold a vote absent a deal with Democrats, Thune said, “at some point, we’ll vote on it, yeah.”

The chamber breaks for its summer recess after the first week of August, which opens a narrow stretch to finish Clarity before members turn to the November midterms. Galaxy Research put the odds of passage at 50-50 as the clock runs down.

This post President Trump To Meet Senators On Clarity Act’s Ethics Fight: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

‘Don’t Let China Win’: President Trump Presses Senate on Clarity Act in Final Stretch

The Senate returns to Washington on July 13, with the clock running down on the most consequential piece of crypto legislation in years. Lawmakers now have roughly four weeks to schedule, debate, and pass the CLARITY Act before the August recess. 

President Trump weighed in directly on Monday, posting on Truth Social that “in honor of Senator Lindsey Graham, a big supporter, the U.S. Senate should pass the Clarity Act” and warning that China and other countries “would like to take complete and total control of this major financial ‘happening,'” as well as A.I. 

White House crypto adviser Patrick Witt amplified the urgency, noting the critical week coincides with the one-year anniversary of the GENIUS Act and cautioning, “We cannot afford to delay any longer.”

This is a window many policy watchers see as the last realistic chance to enact comprehensive digital-asset market structure legislation this Congress.

The CLARITY Act would draw a firm regulatory line between the SEC and the CFTC, granting the commodities regulator exclusive jurisdiction over spot markets for “digital commodities” while leaving the SEC to oversee investment-contract assets. 

It cleared the House in July 2025 by a bipartisan 294–134 vote and advanced out of the Senate Banking Committee in May by a 15-9 margin, with two Democrats joining all Republicans. 

Those committee votes, however, came with warnings that floor support was not guaranteed.

This week’s milestone is the release of updated text merging the Senate Banking and Agriculture Committee versions, the clearest signal yet of what survived negotiations and what remains unsettled. 

JUST IN: President Trump says "The U.S. Senate should pass the Clarity Act." pic.twitter.com/9Y7VxKZ3ck

— Bitcoin Magazine (@BitcoinMagazine) July 13, 2026

Clarity Act issues remain 

The bill missed the July 4 signing ceremony that White House crypto adviser Patrick Witt had targeted, and while meetings ran through the recess, the thorniest issues remain unresolved, according to Crypto in America. Getting to 60 votes may prove harder than getting this far, and with the Republican conference shrinking, Democratic buy-in matters more than ever.

Chief among them is the Blockchain Regulatory Certainty Act, folded into the CLARITY Act as Section 604, which would shield non-custodial software developers from being treated as money transmitters. 

Law enforcement groups argue the language, as written, would hamper investigations into on-chain crime, and Democratic support may hinge on revisions.

An ethics standoff

The more explosive fight is over ethics. Negotiators have yet to reach a CLARITY Act deal with the White House on guardrails around conflicts of interest tied to President Trump’s crypto ventures, after disclosures showed he earned more than $1 billion from crypto-related businesses last year. 

House members have pressed the Senate to act while addressing those concerns, and a coalition of more than 200 companies has urged leadership to bring the bill to the floor. The coalition argued that the bill would establish a clear federal framework for digital assets and help keep innovation in the U.S.

Complicating the math, the death of Senator Lindsey Graham (R-SC) and the continued absence of Mitch McConnell (R-KY) leave Republicans with almost no room for error in reaching 60 votes.

Sentiment is split. Solana Policy Institute President Kristin Smith says momentum is building and a floor vote before recess remains achievable, echoing CFTC leadership calling the bill “so close.” 

Others are wary: Galaxy Digital cut its passage odds to 50-50, citing the shrinking calendar and competing priorities like the NDAA. The firm said the legislation still faces procedural hurdles, unresolved ethics and developer-protection disputes, and a crowded Senate agenda that could delay consideration until September. Galaxy said the odds would improve if Senate leaders commit to a July vote. Odds were as high as 70% earlier this year.

The next four weeks may be CLARITY’s last chance in the 119th Congress.

This post ‘Don’t Let China Win’: President Trump Presses Senate on Clarity Act in Final Stretch first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

President Trump Signals Openness to Bitcoin in Trump Accounts, Calls Himself ‘a Big Fan of Crypto’

President Donald Trump said earlier today that Bitcoin could one day play a role in the new Trump Accounts savings program, telling reporters that “something could happen” when asked whether the accounts might hold the cryptocurrency.

Trump made the comments Monday during an Oval Office ceremony marking the launch of Trump Accounts. In a first-of-its-kind event, he rang the opening bells for both the New York Stock Exchange and the Nasdaq from the Oval Office, a joint bell-ringing that had never been conducted from the White House. 

He was joined by Treasury Secretary Scott Bessent, Securities and Exchange Commission Chairman Paul Atkins, leaders of the NYSE and Nasdaq, and technology executive Michael Dell and his wife, Susan, who pledged more than $6 billion to supplement the accounts. 

JUST IN: President Donald Trump when asked if Bitcoin will be put in Trump Accounts:

“I've become a big crypto guy…I’m a fan.” pic.twitter.com/wvrQHVobu4

— Bitcoin Magazine (@BitcoinMagazine) July 6, 2026

What Trump said about bitcoin

Pressed on whether there were plans to add Bitcoin to the accounts, Trump did not commit to a timeline but used the moment to describe his shift toward digital assets. 

“Well, I’m a big crypto. I’ve become a big crypto guy only for one reason,” he said. “If we don’t have it, China is going to have it, and they would like to have it. But now they’re not even trying that hard because we’ve taken over crypto, but I’m a fan.”

Trump said his interest developed over time. “I wasn’t initially. I didn’t know much about it, but for some of my first term I wasn’t really, I wasn’t much involved, but I’d watch,” he said. 

He credited the sector’s scale and its appeal to voters for drawing him in: “I realized there are a lot of people love crypto and even me as a businessman, I’d see a lot of money starting to come in with Bitcoin.” 

BREAKING: President Trump says "a lot of people" are using Bitcoin

"I don't think anybody realizes how powerful (it is)" pic.twitter.com/CkVrvHUE3q

— Bitcoin Magazine (@BitcoinMagazine) July 6, 2026

He said Bitcoin was being used “at levels that nobody…understands really” and repeated his framing of competition with China.

The president also veered into other subjects. He said the United States leads China in artificial intelligence, tying that lead to his approach on energy permitting for data centers while criticizing wind power. He also confirmed he had spoken with FIFA President Gianni Infantino to seek a review of U.S. forward Folarin Balogun’s red card suspension. FIFA’s independent board reversed the ban on Sunday, a decision that drew objections from Belgium and other figures in the sport. Belgium has appealed the reversal.

What Trump Accounts are

Trump Accounts, created under the One Big Beautiful Bill Act that Trump signed in 2025 and referred to in Treasury guidance as 530A accounts, launched July 4, 2026. Each is a tax-advantaged investment account for a child. 

On July 4, the government deposited one-time $1,000 seed contributions into accounts for more than 500,000 children. Children born between January 1, 2025, and December 31, 2028, who are U.S. citizens qualify for that federal deposit, and families can contribute up to $5,000 a year. Funds are locked until age 18, when the account converts to a traditional individual retirement account.

Trump’s record on crypto

The remarks fit a pattern from Trump’s second term. In March 2025, he signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, directing that Bitcoin held through forfeiture be retained rather than sold; the government held more than 207,000 Bitcoin at the time, valued near $17 billion. 

In July 2025, he signed the GENIUS Act, the first major federal crypto law, setting a framework for payment stablecoins. His administration has eased Biden-era enforcement at the Justice Department and SEC and rolled back restrictions on banks’ crypto activities. A broader market-structure bill, the CLARITY Act, remains in Congress.

This post President Trump Signals Openness to Bitcoin in Trump Accounts, Calls Himself ‘a Big Fan of Crypto’ first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

President Donald Trump Discloses More Than $50 Million in Bitcoin Held in Cold Storage

President Donald Trump holds more than $50 million in Bitcoin, stored in cold wallets, according to his 2025 annual financial disclosure released by the U.S. Office of Government Ethics. The filing is a detailed federal accounting of the president’s personal crypto position since he took office in January 2025.

In total, Trump reported generating more than $1 billion in crypto-related revenue last year, including $635 million in royalties from his memecoin venture and more than $500 million from token sales associated with World Liberty Financial.

The headline figure of over $50 million sits in a single line of the report. Under the entity CIC Digital LLC, an asset described as a “Cryptocurrency Wallet Virtual Bitcoin Key (held in cold wallet)” carries a valuation of “Over $50,000,000,” the highest bracket the disclosure form permits. 

BREAKING: President Donald Trump reports owning over $50 million in Bitcoin, held in cold storage. pic.twitter.com/7QZUbnEvJI

— Bitcoin Magazine (@BitcoinMagazine) June 30, 2026

The form does not require a precise number above that threshold, so the true size of the holding could exceed the stated floor. The Bitcoin line reported no income for the period, a result consistent with an asset held rather than sold.

The Bitcoin sits inside The Donald J. Trump Revocable Trust, dated April 7, 2014, of which the president is the sole beneficiary. That structure places the holding within the same trust that controls his stake in Trump Media & Technology Group, the parent of Truth Social. 

The cold-storage designation indicates the private keys are kept offline, a method that removes the asset from internet-connected systems and the custody of a third-party exchange.

Bitcoin is one of several digital assets in the cold wallets tied to CIC Digital LLC. The same entity reports an Ethereum key valued between $5 million and $25 million, a staked Ethereum position through a Coinbase staking agreement that produced $510,808 in validator rewards, a USDC stablecoin holding in the $5 million to $25 million range, and a smaller dollar-denominated wallet. 

Across the two largest asset classes, Bitcoin and Ethereum, the disclosed value runs past $100 million.

Separate disclosures also report that Vice President JD Vance holds Bitcoin valued between $250,000 and $500,000. Vance’s holdings have been previously reported. 

JUST IN: Vice President JD Vance discloses owning $250,001 to $500,000 in Bitcoin. pic.twitter.com/EHmtkwQc1f

— Bitcoin Magazine (@BitcoinMagazine) June 30, 2026

Trump and World Liberty Financial’s holdings

A second cluster of crypto holdings appears under entities connected to World Liberty Financial, the decentralized-finance venture that carries the Trump name. 

Those wallets include a separate Bitcoin key valued at “Over $50,000,000,” an Ethereum key in the same top bracket, and positions in other crypto. The World Liberty entries also record large income figures tied to token sales, including more than $236 million in net proceeds distributed by World Liberty Financial LLC and a $150 million income figure on the Ethereum line. 

Trump’s disclosure reports more than $500 million in proceeds from token sales tied to World Liberty Financial, the Trump-linked venture behind the WLFI governance token, with the company’s combined wallet entries summing to roughly $527 million. 

The filing also records a $635,068,835 royalty payment under CIC Digital LLC, linked to a meme-coin licensing agreement with Celebration Coins. A related entity, DTTM Operations LLC, lists 15.75 billion World Liberty governance tokens valued in the top bracket.

The disclosure arrives at a moment when the president’s crypto interests intersect with his administration’s policy agenda. Trump has called himself somewhat of an ally of the digital-asset industry, and his government has moved to establish a federal posture toward reserves and regulation. 

The personal holdings detailed in the filing give the public a direct view of the scale of the assets the president owns in the sector his administration oversees.

A sitting U.S. president now reports holding more than $50 million of Bitcoin in self-custody, in cold storage, in the same manner long advocated by Bitcoin holders who prize control of their own keys. 

What the filing does not reveal is when the Bitcoin was acquired, at what price, or how the holding has changed across the year. The form’s bracket system caps reporting at the $50 million ceiling and offers no window into cost basis or timing. 

It’s important to note that the $635 million royalty figure appears as a single line in the filing (recorded under CIC Digital as a license agreement with Celebration Coins, which the document does not explicitly label a “memecoin”), the “more than $500 million” from World Liberty Financial and the “$1 billion” total are aggregations compiled by Bitcoin Magazine. 

The filing’s single stated token-sales line is $236.25 million, and larger figures were found by summing multiple separate crypto-wallet entries. It’s also worth flagging that several of these amounts are described as gross “proceeds from token sales distributed by World Liberty Financial LLC,” so they don’t necessarily represent net income to Trump himself.

This post President Donald Trump Discloses More Than $50 Million in Bitcoin Held in Cold Storage first appeared on Bitcoin Magazine and is written by Micah Zimmerman.