Markets rose across crypto and equities as a U.S. Treasury announcement and high‑level meetings in Washington drove a broad risk‑on shift, while regulators and industry participants advanced rules and products aimed at tokenized securities and perpetual futures.
Treasury bond repurchases trigger biggest one‑day BTC gain since March
Bitcoin climbed as much as 8.7% to $69,749 on Wednesday, marking its largest single‑day gain since March 4 after the U.S. Treasury said it would double the size of its long‑term bond repurchases to at least $4 billion per transaction from Sept. 9. The move into larger buybacks coincided with nearly $2 billion in liquidations across the crypto market within 24 hours. Ethereum also advanced, topping $2,000 for the first time since May. Crypto‑related equities followed the rally: Strategy shares rose nearly 12% and Coinbase shares gained about 9%.
White House meeting pushes CLARITY Act and mentions Hyperliquid
President Donald Trump met with crypto executives at the White House and urged Congress to pass a "fair version" of the CLARITY Act. The meeting included the chairmen of the SEC and CFTC, Paul Atkins and Michael Selig, and CEOs from Coinbase, Ripple, Robinhood and Kraken. During the session the president said the CFTC is working to bring Hyperliquid to the U.S. "in a fully compliant manner," a comment that corresponded with an 11% rise in HYPE. The CLARITY Act is expected to return to the Senate in September; Republicans will need six additional Democratic votes for passage.
Coinbase integrates Hyperliquid perps on Base App (outside US, UK, Canada)
Coinbase announced it will offer leveraged perpetual futures via Hyperliquid on its Base App, providing access to more than 290 markets with up to 50x leverage. Perpetual futures, or perps, are derivative contracts that let traders take leveraged positions without a fixed expiry date. Coinbase’s chief engineering officer Chintan Turakhia said perps represent about 75% of crypto trading volume and were the most requested feature from users. The new product will not be available to users in the U.S., the U.K. or Canada.
OCC aims to finalise GENIUS stablecoin rules ahead of 2027 implementation
The U.S. Comptroller of the Currency is accelerating efforts to finalise its GENIUS rules for stablecoins by November, Jonathan Gould said at the SALT conference in Wyoming. The agency had solicited comments in February on a 376‑page proposal that clarifies its authority over capital requirements for relevant entities but missed an earlier July deadline. The OCC now expects to publish a final rule before GENIUS takes effect in January 2027.
Injective registers as SEC transfer agent to support tokenized securities
Layer‑1 blockchain Injective registered with the U.S. Securities and Exchange Commission as a transfer agent, becoming the first L1 to secure such infrastructure for securitized assets. Transfer agents provide a regulated mechanism to record ownership of securities; the registration aims to bolster Injective’s tokenization offerings, which have included pre‑IPO perpetual futures for companies such as OpenAI. Following the announcement, the INJ token traded about 8% higher, with a market capitalisation near $450 million.
Regulatory and product developments as markets react
The day combined macroeconomic policy, high‑level regulatory engagement and product launches. The Treasury’s repurchase decision sparked a short‑term market reprieve that fed through to crypto tokens and stocks, while the White House meeting and comments from regulators underscored ongoing efforts to create a clearer legal framework for crypto industry activities. At the same time, firms such as Coinbase and Injective moved to expand derivatives and tokenization infrastructure, reflecting continued product innovation amid evolving rules.
Overall, the session highlighted how policy announcements and regulatory dialogue can quickly affect market sentiment, even as industry participants press forward with new services and compliance milestones that aim to integrate crypto products with regulated financial markets.