Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Today in crypto, the CLARITY Act remained at the center of the US crypto policy debate as Senator Ruben Gallego blasted Republicans’ proposed ethics rules while Goldman Sachs CEO David Solomon backed the broader bill. Meanwhile, crypto derivatives pioneer BitMEX announced it will shut down after 11 years of operation.
Dem senator calls GOP’s CLARITY ethics proposal a ‘piece of shit’: Politico
Democratic Senator Ruben Gallego says he will be working with Republicans to come up with a counterproposal to White House-approved ethics provisions in the CLARITY Act, saying the draft released this week was “not a serious effort.”
On Wednesday, Senate Republicans released the proposed text for the Digital Asset Market Clarity (CLARITY) Act, including language on ethics that would bar all US federal officials — including US President Donald Trump — from issuing or sponsoring any digital asset. Democrats said the ethics provisions fall short.
“Whatever piece of shit they sent back to us, that was not a serious effort,” Senator Ruben Gallego told Politico on Thursday.
“I can’t imagine that that’s a serious effort — after all the work that we’ve done with our Republican colleagues, that they would take the months and months of work and somehow interpret that and turn around and think what they offered was even remotely close.”
Gallego said he would work with Senator Thom Tillis and other Republicans on a counterproposal.
“We are still in this fight,” Gallego told Politico. “We are going to send back language.”
Goldman Sachs CEO backs CLARITY Act ahead of expected Senate vote
Goldman Sachs CEO David Solomon has publicly endorsed the CLARITY Act, adding rare support from a major Wall Street bank as the US Senate prepares to consider the crypto market structure bill.
Speaking to Politico, Solomon said the legislation is “not perfect” but argued it would create a more level regulatory environment and help digital asset markets mature. His backing contrasts with the stance of other banking executives, including JPMorgan CEO Jamie Dimon, who has criticized provisions that allow crypto firms to offer yields on stablecoins outside the rules governing traditional banks.
The bill, unveiled by Senate Republicans on Wednesday, is expected to face a closely watched vote that will likely require bipartisan support to pass. Democrats, including Senator Elizabeth Warren, continue to oppose the measure, arguing its ethics provisions are too weak and fail to adequately address conflicts tied to President Donald Trump’s crypto interests. Senate leadership has not yet announced when the chamber will vote.
BitMEX to shut down after 11 years in crypto derivatives
BitMEX, one of the pioneers of cryptocurrency derivatives trading, announced it will shut down operations after owner and operator HDR Global Trading Limited decided to close the company following a strategic review.
BitMEX announced Thursday that it will stop exchange services on Sept. 23, 2026, at 04:00 UTC and urged users to close positions and withdraw funds before the deadline.
“We want to reassure you that your assets remain fully safe and under your control during this transition period,” BitMEX said in a statement to users.
BitMEX did not disclose further details about the factors behind HDR Global Trading Limited’s decision to close the exchange following its strategic review. The exchange declined to comment further and HDR Global Trading did not immediately respond to Cointelegraph’s request for comment.
BitMEX leaves a market it helped define as decentralized derivatives platforms capture a growing share of trading activity from centralized exchanges (CEXs). According to CoinGecko’s Q2 2026 Crypto Industry Report, CEX perpetual futures volume fell 10% to $12.7 trillion during the quarter, while decentralized platforms continued gaining ground. Hyperliquid has emerged as one of the leading decentralized perpetual exchanges, ranking second by open interest behind Binance.

Facts Only

* Senator Ruben Gallego called the Republican ethics proposal in the CLARITY Act a "piece of shit."
* Gallego stated he would work with Republicans to create a counterproposal to White House-approved ethics provisions in the CLARITY Act.
* Senate Republicans released proposed text for the Digital Asset Market Clarity (CLARITY) Act, including ethics language barring US federal officials from issuing or sponsoring digital assets.
* Goldman Sachs CEO David Solomon publicly endorsed the CLARITY Act.
* Solomon argued the legislation would create a more level regulatory environment and help digital asset markets mature.
* BitMEX announced it will shut down exchange services on September 23, 2026.
* BitMEX urged users to close positions and withdraw funds before the deadline.
* BitMEX cited HDR Global Trading Limited's decision to close the company following a strategic review as the reason for the shutdown.
* CoinGecko's Q2 2026 Crypto Industry Report showed CEX perpetual futures volume fell 10% to $12.7 trillion during the quarter.
* Hyperliquid emerged as a leading decentralized perpetual exchange, ranking second by open interest behind Binance.

Executive Summary

The US crypto policy debate centered on the CLARITY Act, involving differing stances among political figures and industry leaders. Senator Ruben Gallego expressed dissatisfaction with the proposed ethics rules in the bill, stating they were not a serious effort, and indicated an intent to work with Republicans on a counterproposal. Conversely, Goldman Sachs CEO David Solomon publicly supported the CLARITY Act, arguing it would foster a more level regulatory environment for digital asset markets. This stance contrasts with other banking executives who have raised concerns about provisions allowing crypto firms to offer stablecoin yields outside traditional banking rules. Furthermore, BitMEX announced plans to shut down operations after 11 years, setting a transition date of September 23, 2026, and urging users to manage their assets before that time. The broader context shows ongoing legislative friction regarding digital asset regulation while the crypto exchange sector undergoes structural changes.

Full Take

The narrative presents a friction point between regulatory aspirations and practical operational realities within the digital asset space. The debate over the CLARITY Act illustrates a divergence in how policymakers and industry stakeholders value different regulatory outcomes: one side prioritizes specific ethical constraints tied to political interests, while the other favors broad market maturation through streamlined regulation. Gallego’s pushback suggests a fundamental disagreement on the scope and substance of necessary federal oversight, leading to a procedural standoff rather than immediate resolution. Simultaneously, the operational announcement from BitMEX signifies that platform longevity is not guaranteed; the decision by the operator to cease operations suggests that internal strategic assessments can override long-term commitment, introducing volatility into the market structure narrative. The tension between centralized exchange volume decline and decentralized platform growth reveals a structural shift in where trading activity resides, implying that future regulation must address both established centralized entities and emerging decentralized infrastructure equally. The underlying implication is that the perceived "maturity" of digital assets is being negotiated through political compromise and internal business decisions, rather than settled by external mandates alone.

Sentinel — Human

Confidence

The text reads like typical, albeit highly opinionated, political and financial reporting that successfully aggregates disparate facts around a central policy theme.

Signals Detected

Sentence length variance is noticeable; the tone shifts between direct quotes and narrative explanation.

The article successfully weaves together disparate topics (policy debate, executive commentary, company news) logically, although the framing is highly partisan.

Uses direct quotes from named sources (Gallego, Solomon) and integrates specific data points (BitMEX shutdown date, CoinGecko report).

The inclusion of highly charged rhetoric ('piece of shit') attributed directly to a Senator, while typical in political reporting, is presented as pure fact without contextualizing the source's bias.

Human Indicators

Use of highly charged, emotionally expressive language within direct quotes (e.g., 'piece of shit') that suggests a specific journalistic style rather than pure LLM neutrality.

The seamless juxtaposition of high-level political sparring with granular industry news (BitMEX closure, market share statistics) is characteristic of beat reporting.