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UK parliament to probe Nigel Farage’s $6.8 million donation from crypto billionaire

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UK parliament to probe Nigel Farage’s $6.8 million donation from crypto billionaire

Nigel Farage, the leader of Reform UK and a member of Parliament, is facing a formal investigation by the parliamentary standards watchdog after failing to declare a 5 million-pound ($6.8 million) gift from crypto billionaire Christopher Harborne, news services including the Guardian reported Wednesday.

Farage received the donation from Harborne, a Thailand-based businessman with a 12% stake in stablecoin issuer Tether, weeks before announcing he would stand as a candidate in the 2024 general election, and did not declare it when elected as MP for Clapton. New MPs must register all financial interests received within the 12 months preceding their election.

A weekly YouGov poll of voting intentions has Reform UK gaining the largest share of votes, at 28%, putting Farage as the frontrunner to become the next prime minister. If the watchdog finds he breached the code of conduct, he could face suspension and potentially be forced to fight again for his parliamentary seat.

Farage, who is supportive of the crypto industry, has said that because Harborne’s donations were intended to cover his security expenses he was not compelled by law to declare them. Reform UK recently said the gift falls under the exemption for purely personal gifts. Labour and other parties argue that Harborne’s donations are subject to the rule, and the gift was referred to the parliamentary commissioner last month.

The parliamentary commissioner for standards, Daniel Greenberg, is set to investigate Farage under rule 5 of the code of conduct, which compels lawmakers to “fulfil conscientiously” requirements relating to their registration of interests, the Guardian said.

The Reform UK leader does not appear on the commission’s list of current investigations.

In April, BitMEX co-founder Ben Delo said in an op-ed for CoinDesk that he had given the party 4 million pounds since the start of the year.

The U.K. government imposed a moratorium on political crypto donations in March, citing a review warning that digital assets could be used to channel foreign money into U.K. politics. The ban covers donations of any size and will be written into the Representation of the People Bill, with criminal penalties for non-compliance.

Read more: Nigel Farage takes 6% stake in UK bitcoin treasury firm Stack BTC

BNB Chain Unveils On-Chain Agent Identity and Payment Framework With ERC-8004 Standard

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BNB Chain Unveils On-Chain Agent Identity and Payment Framework With ERC-8004 Standard

BNB Chain introduced a framework enabling autonomous agents to obtain verifiable on-chain identities, receive payments, hire other agents, and build reputation through new token standards and skill integrations.

BNB Chain announced a comprehensive on-chain agent framework on May 13, 2026, enabling autonomous agents to obtain decentralized identities via the ERC-8004 standard, conduct peer-to-peer payments, delegate tasks to other agents using ERC-8183, and accumulate verifiable reputation tracked on 8004scan. The system operates entirely on-chain with transparent, auditable transactions and hierarchical agent relationships.

The framework integrates multiple skill modules including native BNB Chain smart contract execution and on-chain data querying via natural language, Nodereal’s MegaNode API infrastructure providing access to 25+ blockchain networks, and specialized meme token management capabilities via fourdotmemezh Agent Skills. A BNB Chain Knowledge Base Model Context Protocol (MCP) enables agents to query blockchain documentation with sourced, instant answers, expanding agent functionality across DeFi and asset management use cases.

Sources: BNB Chain | BNB Chain

This article was generated automatically by The Defiant’s AI news system from publicly available sources.

Anthropic Further Targets Legal With New Connectors

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Anthropic Further Targets Legal With New Connectors

Anthropic’s sustained aim for the legal industry shows the AI lab’s recognition of the field as an easy entry point that can be used to prove the success of its technology.

On Tuesday, the vendor expanded Claude for Legal with 20 new connectors that enable lawyers and legal professionals to use Claude with legal software such as Thomson Reuters CoCounsel, DocuSign, iManage, Box and EverLaw. With these connectors, legal teams can access deep expertise and manage complex work without switching between Claude and software from those providers. 

Anthropic also released 12 practice-area plugins tailored to specific legal roles, such as a commercial legal plugin that reviews NDAs and vendor agreements. Anthropic said it is also partnering with organizations such as Free Law Project, the Justice Technology Association and others to help those who have trouble accessing legal help.

The new plugins and connectors are part of Anthropic’s continued push to use the legal industry as an example of how professionals can benefit from the use of its Claude model, with the right connectors. While the vendor has dabbled in other verticals, such as cybersecurity, it targets the legal field more than any other AI lab. Earlier this year, it introduced Claude Cowork, which sent the legal industry into a panic because it offered specialized plugins and enterprise integrations. Anthropic is specifically creating AI tools and partnering with SaaS vendors in an industry that has been slow to adopt technology. 

Related:OpenAI Launches AI Consulting Company, Following Anthropic

The latest move is part of Anthropic’s overall strategy to show enterprises that, if it succeeds in law, it can also succeed in gaining mass adoption in other fields, said Michael Bennett, associate vice chancellor for data science and AI strategy at the University of Illinois Chicago. Anthropic has also targeted finance and graphic design. 

“For an industry that has this cultural bias against adopting technologies early on, if you can overcome those hurdles, then you can turn to other industries and say, ‘hey, even the legal industry…is doing this now,’ and seeing it benefit them,” said Michael Bennett, associate vice chancellor for data science and AI strategy at the University of Illinois Chicago.

The Right Collaboration

However, to succeed, Anthropic needs the right partners. The introduction of connectors to the software that legal professionals use is a way for the AI Lab to acknowledge that it still needs the expertise of legal SaaS vendors like Thomson Reuters.

“There is still a gap between what a foundation model can do versus what a specialized SaaS company that focuses on the vertical market can offer,” said Lian Jye Su, an analyst at Omdia, a division of Informa TechTarget. 

Related:Nvidia in $2.1B Deal With Data Center Provider IREN

SaaS vendors are not relying solely on AI expertise, but also on the data pipelines they have built to store and manage enterprise data, he said. For example, in legal, there is a focus on document processing, understanding legal context and making legal recommendations, all of which are not the strengths of LLMs but are strengths of the specialized connectors tied to legal partners. Those connectors could sway legal professionals who have been considering Anthropic but have not yet made the move.

“This is probably going to reduce the anxiety a bit because these connectors are to be implemented inside the cyber secure domain of the firm,” Bennett said. He added that this approach also reduces implementation costs, so there is no need to worry about building bespoke software to connect Claude to a legal firm’s own database.

Moreover, it reduces the risk of shadow AI, Bennett added.

“There are fewer reasons for practitioners, lawyers, folks on the business side of law firms, to go outside of the cyber, secure domain of a firm and access some AI and then unintentionally reveal and expose the confidential or proprietary information,” he said.

Related:Beijing Lab at $20B as AI Investors Look to China

Some Problems

However, challenges remain, especially hallucinations, which the legal industry has been plagued with since the introduction of large language models.

Bennett said that if an AI connector makes a slight modification to a legal document when it shouldn’t, it can be problematic and lead to serious legal problems.

“That known risk may be amplified in situations where we’ve got a culture of moving slowly with respect to the technology, a history of fumbling the ball when it comes to hallucinations,” he said. He added that there is a need for “meaningful, substantive guardrails ” to avoid that kind of potential risk.

Moreover, with Claude sitting on the cloud, some legal companies might still not like that Su said.

“Different legal firms may have different appetites when it comes to where the data sits, and some will still prefer to sit on-prem or maybe have a hybrid type of setup,” he said.

Senate Confirms Bitcoin Friendly Kevin Warsh As Fed Chair Ahead Of Clarity Act Vote

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Senate Confirms Bitcoin Friendly Kevin Warsh As Fed Chair Ahead Of Clarity Act Vote

The Senate on Wednesday confirmed Kevin Warsh as the next chair of the Federal Reserve in the most divisive confirmation vote in the central bank’s modern history, handing President Donald Trump a landmark win just as fresh inflation data clouds the path to the interest rate cuts he has loudly demanded.

The chamber voted 54–45 to confirm Warsh, 56, making him the 11th Fed chair of the modern banking era and the wealthiest person ever to hold the position. The vote was nearly entirely along party lines, with only Pennsylvania Democratic Senator John Fetterman crossing over in support.

Warsh takes over from Jerome Powell, whose four-year term as chair expires Friday — though Powell is not departing the Fed entirely, as he retains his seat as a board governor through 2028.

Warsh is no stranger to the Fed’s marble corridors. He previously served on the Board of Governors from 2006 to 2011, becoming the youngest member in the institution’s history at age 35. 

His return comes at a far more turbulent moment: the Fed is grappling with persistent inflation above its 2% target, economic fallout from the war in Iran, and a looming Supreme Court fight over the fate of Governor Lisa Cook.

Trump has made no secret of his expectations. The president repeatedly clashed with Powell over what he viewed as overly restrictive monetary policy, and Warsh was selected from a field of nearly a dozen candidates — including current governors Christopher Waller and Michelle Bowman — with rate relief firmly in mind. 

Yet this week’s data has complicated the picture, with pipeline price pressures accelerating at their highest pace in more than three years, causing markets to scale back rate-cut bets and even price in a chance of an increase later this year. Warsh’s first FOMC meeting as chair is scheduled for June 16–17.

Warsh: Bitcoin doesn’t trouble me

For the Bitcoin community, Warsh’s confirmation carries singular weight. He is the first incoming Fed chair to have held direct exposure to digital assets, including an equity stake in Flashnet, a Bitcoin payments startup, as well as ties to crypto index manager Bitwise and stablecoin project Basis. 

He has publicly described Bitcoin as “an important asset” and “a very good policeman for policy,” arguing its price reflects real-world confidence in the Fed’s inflation management. “Bitcoin doesn’t trouble me,” Warsh said at a Hoover Institution event last year, framing it as a signal of monetary credibility rather than a threat to the dollar.

Lawmakers are set to vote tomorrow on the Clarity Act, a closely watched piece of legislation that could reshape regulatory oversight for bitcoin and digital assets in the United States.

Rep. French Hill (R-AR) praised the confirmation, saying Warsh’s “commitment to disciplined monetary policy will help restore confidence in our economy”. 

Critics, including Sen. Elizabeth Warren, spent his April 21 confirmation hearing warning that political pressure from the White House could compromise the Fed’s independence — a concern Warsh flatly rejected, vowing to keep monetary policy “strictly independent”.

Powell, for his part, said he plans to “keep a low profile as a governor.”

Metaplanet delays preferred share listing amid challenging Japanese market structure

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Metaplanet delays preferred share listing amid challenging Japanese market structure

Metaplanet (3350), Japan’s largest corporate bitcoin holder and the world’s third-largest bitcoin treasury company holding 40,177 BTC on its balance sheet, has confirmed a delay in its planned preferred share listing.

CEO Simon Gerovich discussed the complexity of navigating Japan’s underdeveloped preferred equity market as the primary reason for the hold-up.
The company’s planned instrument would be only the seventh listed preferred in Japan, Gerovich said, and, notably, the first-ever perpetual preferred share in the market.

Metaplanet announced back in November a two-tier listed preferred share class, Mars and Mercury. The move came after Strategy launched its own preferred shares, with Stretch (STRC) among the most popular.

Two key obstacles have stood in the way of Metaplanet’s listing of preferred shares.

First, Japanese exchange rules require preferred dividends to be backed by sustainable, recurring cash flows assessed across multiple market conditions. Metaplanet must demonstrate that its Bitcoin Income Generation Business can produce stable returns even in adverse bitcoin environments, and has just a six-quarter operating track record.

Second, the company’s ambition to pay monthly dividends is far more frequent than Japan’s typical once or twice-yearly cadence, which requires building entirely new dividend infrastructure around record dates.

Gerovich concluded that the company is committed to delivering preferred shares to the market and highlighted Japan’s status as one of the world’s most yield-starved major capital markets.

On the earnings, the company delivered net sales of $19.5 million (¥3.08 billion, up 251% year-on-year) and operating income of $14.4 million (¥2.27 billion, up 283%). Meanwhile, bitcoin yield came in at 2.8% quarter-to-date.

Metaplanet shares are down 25% year to date.

Joe Lubin’s Consensys has delayed its potential IPO until fall

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Joe Lubin’s Consensys has delayed its potential IPO until fall

Consensys, the Ethereum development firm led by Joe Lubin, has pushed back its potential U.S. public offering until fall at the earliest due to poor market conditions, according to two people familiar with the situation.

The MetaMask wallet builder had reportedly engaged bankers from JPMorgan and Goldman Sachs last year to lead the process.

Consensys had been aiming to file a draft S-1 registration statement with the Securities and Exchange Commission (SEC) around the end of February this year, according to a third person. A confidential filing is typically the first formal step in the IPO process.

Crypto markets turned sharply lower in February 2026 as investors pulled back from risk assets amid macroeconomic uncertainty, tariff concerns, slowing expectations for interest-rate cuts and heavy outflows from bitcoin BTC$80,949.32 exchange-traded funds (ETFs), triggering a wave of leveraged liquidations across digital assets. Against that backdrop, Consensys’ decision to delay its IPO plans was hardly surprising.

A spokeswoman for Consensys said: “As a matter of policy, we don’t comment on market speculation.”

Improved regulatory clarity in the U.S. prompted several crypto firms to outline plans for going public this year. But a prolonged market downturn has seen large companies such as exchange giant Kraken and crypto wallet maker Ledger pause their IPO plans.

BitGo (BTGO), the only crypto-native company to go public in 2026, raised about $213 million in its January IPO, pricing shares above the marketed range at $18 and jumping more than 20% in its New York Stock Exchange (NYSE) debut.

But the rally quickly faded, highlighting volatile investor sentiment toward crypto listings, with the stock now trading about 36% below its IPO price.

In early 2022, Consensys raised a hefty $450 million Series D round, valuing the company at $7 billion.

Read more: Crypto wallet provider Ledger puts U.S. IPO plans on hold due to market conditions

Bitcoin Suisse Secures Bermuda Regulatory Approvals For International Digital Asset Expansion

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Bitcoin Suisse Secures Bermuda Regulatory Approvals For International Digital Asset Expansion

Bitcoin Suisse (International) Ltd., an affiliate of the Switzerland-based Bitcoin Suisse Group, has obtained dual regulatory approvals from the Bermuda Monetary Authority, according to a note shared with Bitcoin Magazine. 

The Bermuda Monetary Authority (BMA) granted the entity a Class F license under Bermuda’s Digital Asset Business Act (DABA) and a Class B registration under the Investment Business Act 2003. 

The approvals, granted on a pre-operational basis, authorize Bitcoin Suisse to provide regulated digital asset management and investment advisory services to professional and institutional clients. The entity is domiciled in Hamilton, Bermuda, and is a subsidiary of BTCS Holding Ltd., the group’s parent holding company.

The DABA license covers the provision of regulated digital asset business services, while the IBA registration permits investment advisory and discretionary portfolio management. 

Clients may fund mandates in Bitcoin, stablecoins, or fiat currency, the company said. The entity operates on a non-custodial basis, relying on regulated custodial providers and partner banks for institutional-grade security.

Andrej Majcen, Co-Founder and Group CEO of Bitcoin Suisse, framed the approvals as a turning point for the firm’s global ambitions. 

“Institutional investors recognize digital assets as a permanent part of their portfolios. What they need is a partner who combines deep crypto-native expertise with the governance and regulatory standards they expect from traditional financial services,” Majcen said. “The BMA approvals mark an important step in Bitcoin Suisse’s transition towards a global wealth management platform.”

Multi-region bitcoin expansion strategy

Investment decisions will draw on Bitcoin Suisse’s proprietary Crypto Analysis Framework and its Global Crypto Taxonomy — a classification system covering approximately 600 digital assets across six sectors, developed over more than a decade of research. An experienced CIO Office and dedicated research function will underpin all client mandates.

Bermuda has positioned itself as a global hub for digital asset regulation since introducing the Digital Asset Business Act in 2018, one of the first comprehensive frameworks of its kind in the world. The jurisdiction’s regulatory architecture has attracted crypto-native firms seeking institutional credibility and offshore reach.

The Bermuda approvals build on Bitcoin Suisse’s existing international presence. The group holds an In-Principle Approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, establishing a regulated footprint in the Middle East. Together, the two jurisdictions form the foundation of a multi-region expansion strategy targeting ultra-high-net-worth individuals, family offices, external asset managers, and corporate counterparties.

US Government Asks for $1M in Forfeiture from Ex-Celsius Exec Ahead of Sentencing

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US Government Asks for $1M in Forfeiture from Ex-Celsius Exec Ahead of Sentencing

Roni Cohen-Pavon, the former chief revenue officer of defunct cryptocurrency lending platform Celsius, will likely turn over more than $1 million as part of a forfeiture order by US authorities ahead of his sentencing hearing.

In a Tuesday court filing, US Attorney for the Southern District of New York Jay Clayton said that Cohen-Pavon had consented to a $1,070,000 judgment “representing the amount of proceeds traceable” to the former Celsius executive’s crimes. Clayton said that Cohen-Pavon would receive credit for any funds, in cash or crypto that he had on Celsius, paid as part of the platform’s bankruptcy case.

Source: PACER

Cohen-Pavon pleaded guilty to fraud and conspiracy to commit price manipulation related to Celsius’s CEL token in September 2023. Clayton did not recommend a specific sentence for the Celsius executive, instead asking the judge to consider the guidelines for an “appropriate sentencing reduction for a defendant who has rendered substantial assistance.” He is scheduled to appear for sentencing in the US District Court for the Southern District of New York on Thursday.

The collapse of Celsius was one of the most significant bankruptcies in the crypto industry in 2022, possibly precipitated by the downfall of the Terra ecosystem and leading to large exchanges including FTX filing for Chapter 11 in the US. Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to commodities and securities fraud and agreed to a forfeiture of more than $48 million.

Related: Celsius founder Alex Mashinsky settles FTC case with $10M payment

In April, Cohen-Pavon’s lawyers asked that he be sentenced to time served, citing his cooperation agreement with the government and potential role in Mashinsky’s guilty plea. They said that the Celsius executive took “full responsibility for his conduct.”

“I pleaded guilty because I am guilty,” said Cohen-Pavon in a letter to Judge John Koeltl. “I participated in the manipulation of the CEL token. I did not stop it when I should have, and I did not leave when I could have. I take full responsibility for that.”

Judge orders $10 million added to judgment of former FTX CEO

On Thursday, SDNY Judge Lewis Kaplan ordered that $10 million in assets connected to Sam “SBF” Bankman-Fried be used toward the former FTX CEO’s forfeiture agreement. Bankman-Fried was sentenced to 25 years in prison and ordered to pay more than $11 billion as part of his role in defrauding FTX users and investors.

In April, Kaplan denied Bankman-Fried’s motion for a new trial, with the former CEO claiming that the judge showed “manifest prejudice” during his time in court in 2023. His appeal to overturn his conviction and sentence with the Second Circuit was still pending as of Wednesday.

Magazine: eToro founder timed Bitcoin top perfectly due to belief in 4 year cycles

Analyst Says Ethereum Will Have Its Turn For An Explosive Rally, But Only When Bitcoin Does This

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Analyst Says Ethereum Will Have Its Turn For An Explosive Rally, But Only When Bitcoin Does This

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A new analysis from crypto expert Sykodelic suggests that Ethereum (ETH) could experience a parabolic rally to new highs this year, but only if Bitcoin (BTC) makes a key move. According to the analyst, ETH is already laying the groundwork for this potential surge, with recurring historical patterns backing its bullish structure. Once Ethereum begins a bull run, Sykodelic believes that the cryptocurrency could gain enough momentum to trigger the long-anticipated altcoin season. 

Ethereum Price Rally Contingent On Bitcoin Breakout

Sykodelic believes that Ethereum is setting the stage for a new bull run that could push its price back toward the $4,000 range. In an X post dated May 11, the analyst shared a detailed analysis and an accompanying chart outlining conditions that could drive ETH to that level, and why Bitcoin’s next movements will be the critical trigger. 

According to the analyst, Ethereum’s price surge has yet to begin precisely because Bitcoin continues to lead the crypto market. He noted that only after BTC completes its “structure changing move,” will ETH have a real opportunity to rally.

That context matters, given Bitcoin’s recent market performance. Since early April, BTC has been on a steady upward rally, with its latest surge pushing its price to around $82,000. The flagship cryptocurrency has been outperforming the broader market for months, driven by strong demand from derivative traders, easing macroeconomic conditions, and sustained accumulation from institutions like Strategy. 

With that in mind, once Bitcoin concludes its current breakout phase or undergoes a meaningful trend shift, money and momentum will likely rotate into Ethereum, allowing ETH to begin its own major rally. Sykodelic reinforced this view by pointing to a chart pattern he has tracked over the past five years. 

According to him, during that period, Ethereum has consistently traded within a well-defined range marked by repeated deviations and reclaims. Notably, each of these range cycles took 70-77 days to complete. 

Ethereum bitcoin
Source: X

The analyst explained that each time Ethereum broke out of this range and reclaimed its structure, the cryptocurrency staged a strong rally back toward the range highs or lows. Given the current chart structure, Sykodelic believes ETH may once again be mirroring this historical pattern and, if so, another move toward range highs could now be in play. 

ETH’s Surge To $4,000 Could Ignite The Next Altcoin Run

In his analysis, Sykodelic pointed to Ethereum’s weekly Moving Average Convergence Divergence (MACD) as further confirmation of the repeating historical chart structure. He noted that ETH is now back within the same range that led to new highs in past cycles and has been solidifying its position over the past 77 days as it prepares to move higher. 

Should Ethereum push back toward range highs around $4,093, Sykodelic believes that surge could serve as the catalyst for the next altcoin run. He stated that this long-awaited altcoin season could last anywhere from 12 to 18 months. He also acknowledged that the rally may be slow, but expressed confidence that it will inevitably begin. 

Ethereum price chart from Tradingview.com (Bitcoin)
ETH begins another recovery rally | Source: ETHUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Ether May Soar to Five-Digit Prices Fueled by Rising Institutional Adoption

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Ether May Soar to Five-Digit Prices Fueled by Rising Institutional Adoption

Market analysts said Ether (ETH) was ready to continue its uptrend following moves by JPMorgan and BlackRock to launch tokenized funds on the Ethereum network.

Key takeaways:

  • Institutional adoption is underway as JPMorgan and BlackRock plan to launch tokenized funds on Ethereum.
  • Strong technical structures in multiple time frames suggest ETH price is bottoming out. 

ETH traders anticipate the price to “outperform”

Data from TradingView showed ETH/USD trading at $2,320, up 2% over the last 24 hours. 

The pair failed to crack through resistance at $2,400 last week, as spot Ether exchange-traded fund (ETF) outflows and rising balance on Binance derailed Ether’s recovery.

As such, bulls must push and hold the ETH/USD pair above $2,400 to continue the uptrend.

In a Wednesday post on X, analyst CryptoJack said ETH is “getting ready for a pump” as it consolidates inside a symmetrical triangle on lower time frames.

“A breakout could lead to a strong move soon.”

ETH/USD chart. Source: X/CryptoJack

Crypto Patel’s chart shows ETH trading inside an ascending triangle that has guided its price action since 2020. ETH is bouncing off the triangle’s lower trendline around $1,800, a zone that previously acted as a launchpad for large upside moves.

The analyst sets the upside target for Ether at $10,000-$15,000, saying:

“$ETH will outperform this cycle.”

ETH/USD two-week chart. Source: X/Crypto Patel

Fellow crypto analyst Celal Kucuker also shared a bullish argument, laying out a long-term roadmap that places ETH on course for a possible move above $24,000.

ETH/USD one-month chart. Source: X/Celal Kucuker

Momentum indicators support the rebound thesis. Ether’s monthly relative strength index (RSI) has cooled toward a historical support area near 42-455, similar to levels that preceded past rallies.

As Cointelegraph reported, buyers will be back in control once the ETH/USD pair breaks above the $2,450-$2,600, confirming a trend shift.

Institutional adoption fuels Ether’s bullishness

As Cointelegraph reported, JPMorgan is set to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to hold reserves backing their stablecoins while earning interest.

Related: Bitmine slows Ethereum buys, targets December to own 5% of supply

BlackRock, the world’s largest asset manager, has also filed for tokenized versions of its Treasury liquidity funds, where official ownership records will be maintained on Ethereum using ERC-20 token standards.

Source: Cointelegraph

“Institutional adoption just hit another level,” analysts at Ethereum Daily said in a post on X on Wednesday. 

“This is the most bullish news for Ethereum,” X user Borovik said in a reaction to the news on Wednesday.

Tokenized funds on Ethereum, bulls argue, will drive onchain activity, increase gas demand and total value locked (TVL). This will, in turn, boost the blockchain’s legitimacy, making ETH the preferred settlement layer for trillions in TradFi capital. 

Data from RWA.xyz shows that global tokenized funds already exceed $31 billion, with Ethereum dominating approximately 55% of the space.

Total global RWA value. Source: RWA.xyz

These were not the only bullish news for Ethereum. MN Capital founder Michael van de Poppe said that the approval of the CLARITY Act, which is scheduled for markup on Thursday, would be a “massive trigger for the markets.” 

Market analyst Ethprofit.eth said the CLARITY Act “looks extremely bullish for Ethereum,” while Bitcoin Mami said “institutional demand is going insane post CLARITY Act,” pushing ETH price to $10,000.

Polymarket bettors are pricing in a 60% chance that the CLARITY Act will be signed into law in 2026, down 5% over the last 24 hours.

Odds of the CLARITY Act being signed into law in 2026. Source: Polymarket

If the CLARITY Act becomes law, Ether is expected to rally, as seen in July 2025, when the signing of the GENIUS Act into law preceded a 65% ETH price rise to its current all-time high of $4,950 from $3,000. 

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