Crypto Market Update: Trump Demands Swift Passage of CLARITY Act Amid Bank Pushback
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin (BTC) was priced at US$73,482.70, up by 7.4 percent over the last 24 hours.
Chart via TradingView.
Bitcoin price performance, March 4, 2026.
CoinGlass data suggests that the current rally is being driven by spot accumulation and a short squeeze.
The perpetual futures/spot volume ratio at 7.99 shows that spot Bitcoin buying is keeping pace with futures trading, preventing the cryptocurrency’s price from becoming top-heavy.
The current funding rate of -0.02 percent and skewed short liquidations throughout the day indicate that the move above US$73,000 is forcing bearish traders to buy back and provide further fuel for the upside.
Combined with a +1.41 percent rise in open interest, this data confirms that fresh, high-conviction capital is entering the market to support the breakout.
Ether (ETH) was priced at US$2,172.35, up by 9.5 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$1.46, up by 7.8 percent over 24 hours.
- Solana (SOL) was trading at US$93.58, up by 10.1 percent over 24 hours.
Today’s crypto news to know
Trump presses banks as crypto legislation fight intensifies
US President Donald Trump has accused major banks of trying to undermine the administration’s digital-asset agenda in a recent post on Truth Social. He warned that the GENIUS Act and the broader Digital Asset Market Clarity Act must move forward quickly, arguing delays could push the industry overseas. “The U.S. needs to get Market Structure done, ASAP,” Trump wrote, adding that banks should not “hold The Clarity Act hostage.”
The remarks come as lawmakers continue debating stablecoin rules and whether crypto platforms should be allowed to offer yield on token balances — a provision banks strongly oppose.
Industry advocates echoed the urgency.
In an email to the Investing News Network, Ji Hun Kim, CEO of the Crypto Council for Innovation (CCI), said American leadership in digital assets is a “national priority.”
“American leadership in digital assets is a national priority and it remains imperative that the U.S. leads. CCI is focused on ensuring that market structure legislation passes and is enacted as soon as possible. We remain committed to working constructively on a path forward on stablecoin rewards.”
The White House has framed the GENIUS Act as the first major step toward establishing federal rules for stablecoins, while the CLARITY Act would define oversight responsibilities across US crypto markets.
Morgan Stanley selects Coinbase, BNY Mellon as Bitcoin ETF custodians
A registration statement for the Morgan Stanley Bitcoin Trust, a spot Bitcoin exchange-traded fund (ETF) proposed in January, filed on Wednesday, revealed that the trust’s Bitcoin will be held by Coinbase Global (NASDAQ:COIN), with BNY Mellon (NYSE:BK) acting as custodian.
The ETF is expected to be listed on NYSE Arca.
MEXC lists 17 new on-chain equity pairs on Ondo Finance
A press release published by crypto exchange MEXC on Tuesday (March 3) details 17 new on-chain US equity pairs listed on Ondo Finance, denominated in USDT. The new listings bring their total offering to 32 tokenized blue-chip stocks and represent a major expansion in the partnership between the two companies.
Each tokenized stock is issued as an ERC-20 smart contract on the Ethereum blockchain. To drive adoption, MEXC is offering zero trading fees for the first 30 days for these new pairs.
Scotiabank-owned Dynamic Funds launches multi-crypto ETF
Dynamic Funds, a Scotiabank-owned division of 1832 Asset Management, announced the launch of the Dynamic Active Multi-Crypto ETF (CBOE:DXMC), marking a major expansion of institutional crypto access in Canada.
The fund, actively managed by 3iQ, provides diversified exposure to a basket of major crypto assets.
The move signals deep institutional maturity and confidence in the asset class, given the direct involvement of Dynamic Funds, an asset management subsidiary wholly owned by Scotiabank. This makes it one of the most direct involvements of creating and managing a multi-asset crypto product by Canada’s “Big Five” banks.
To attract investors, Dynamic has reduced the management fee from 0.45 percent to 0.25 percent until March 1, 2027.
US-UK regulators diverge on path toward tokenized finance
Efforts to coordinate digital asset rules between the US and Britain are facing friction as regulators disagree on how quickly to test blockchain-based securities, Reuters reported.
The two countries formed a transatlantic task force last year to improve crypto cooperation and reduce barriers for firms operating across both markets. While both sides support closer alignment on stablecoins and digital-asset frameworks, officials differ on how tokenized securities should be introduced.
British regulators favor testing the technology through a regulatory sandbox, which would allow companies to trial products under supervision before wider adoption.
Some US officials, however, have raised concerns that the sandbox approach could slow innovation and limit commercial viability. Instead, the US Securities and Exchange Commission (SEC) is reportedly exploring “exemptive relief,” a model that would allow certain projects to proceed with fewer restrictions.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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