Bitcoin, Ethereum, and XRP rallied after Trump’s crypto meeting, but the CLARITY Act still faces political disagreements in the Senate.
President Donald Trump met with executives from Coinbase, Ripple, Gemini, and other major crypto companies at the White House on Wednesday as the administration sought to take a stronger position in the digital asset industry.
The discussion focused heavily on the Digital Asset Market Clarity Act, Bitcoin, and the push to bring more crypto activity into the US.
CLARITY, Bitcoin and Hyperliquid
Trump called on Congress to pass “a fair version” of CLARITY and said the legislation would help keep the US “ahead of China.” The bill passed the House of Representatives in July 2025 but has remained stalled in the Senate over issues including tokenized equities, stablecoin rewards, and concerns about potential conflicts involving the Trump family and the crypto industry.
Coinbase CEO Brian Armstrong said the legislation would make the country’s crypto policy “durable into the future, so it could survive for decades and decades to come.” The exec expects the bill to get “more than 60 votes” when the Senate takes up a cloture motion on September 15. Trump backed Armstrong’s assessment of the bill’s support and said,
“It’s very bipartisan, I would say. Lot of Democrats support.”
During the meeting, Trump also said the US has discussed plans to buy “sizable” amounts of Bitcoin and other cryptocurrencies. He later said,
“We’re going to ensure America remains the undisputed leader, not only in Bitcoin and crypto, but also in technologies like prediction markets and artificial intelligence.”
Hyperliquid was another topic raised during the meeting. Trump said Commodity Futures Trading Commission Chair Michael Selig is working to bring the perpetuals-focused trading platform into the US in a “fully compliant and legal fashion.” HYPE jumped more than 20% following the remarks and climbed to $71.
Markets Cheer, But Hurdles Remain
Crypto markets reacted strongly after the White House meeting and the latest signals on regulation. Bitcoin gained 7% and tapped $70,000, while Ethereum posted a bigger jump of nearly 18% and reached $2,327. XRP also moved higher as it climbed to $1.14.
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But the bigger question for the industry is still in Washington. Trump can urge lawmakers to move ahead, but the CLARITY Act must still clear political hurdles in the Senate. Democratic Senator Ruben Gallego, for instance, warned lawmakers to slow down rather than rush toward a Senate vote. Speaking at the SALT Wyoming Blockchain Symposium on Wednesday, Gallego said Democrats and Republicans still need to work through disagreements over ethics and stablecoin yield.
“Don’t go for a fast vote. A fast vote gets you a fast result, but I’m not sure it’s the result you want.”
It is important to note that Senate Democrats have pushed for language that would prevent public officials, including the president, from selling digital currencies. But Gallego said that repeated efforts to reach the White House on the ethics language have made little progress.
