US President Donald Trump concluded a White House crypto summit on August 19 with a call for Congress to pass the CLARITY Act, legislation he said would establish a broader regulatory framework for digital assets. SEC Chairman Paul Atkins, other dignitaries from the crypto industry — including Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Gemini co-founders Cameron and Tyler Winklevoss — supported the bill's passage at the event.

Trump also said the United States would consider holding a 'sizeable' amount of Bitcoin, a step he framed as part of his goal of making America the crypto capital of the world. The federal government already holds bitcoin obtained through law-enforcement forfeitures, and Trump established a Strategic Bitcoin Reserve by executive order in March 2025 to retain those holdings. In addition, he urged the Hyperliquid decentralized exchange (DEX) to come to the United States, a request that coincided with a 25% jump in HYPE, the exchange's native token, which is now challenging its all-time high above $75.

Trump Urges Congress to Fast-Track the CLARITY Act

Trump called on Congress to pass what he described as a fair version of the CLARITY bill. The legislation, formally the Digital Asset Market Clarity Act, passed the House with bipartisan support in July 2025 and would divide oversight of digital assets between the SEC and the CFTC, clarifying when a token is treated as a security and when as a commodity. It has moved through Congress alongside the GENIUS Act, the stablecoin law Trump signed in July 2025, as the market-structure half of the federal crypto agenda. The legislation has faced delays over issues including tokenized equities, stablecoin rewards, and ethics concerns, and Trump previously urged lawmakers to advance the bill following the death of Senator Lindsay Graham.

Coinbase CEO Brian Armstrong said the CLARITY Act could secure more than 60 Senate votes, arguing that it would provide a durable framework for US crypto policy for decades.

The Senate is currently out of session, delaying further action on the legislation, with attention now focused on the September 15 voting deadline. White House crypto adviser Patrick Witt said he is "truly optimistic and bullish" about the CLARITY Act's chances of passing.

SEC Chair Supports the CLARITY Act

Speaking at the White House summit, SEC Chair Paul Atkins also supported passage of the CLARITY Act, noting: "The most important priority is for Congress to send the CLARITY Act to your desk for your signature. And the SEC is doing everything we can to support that work."

Earlier this week, the Securities and Exchange Commission proposed new rules dubbed "Regulation Crypto Assets" (press release), a framework the Commission said establishes a clear and fit-for-purpose regime for certain investment contracts involving crypto assets. The proposal builds on the Commission's March 2026 interpretation, which noted that federal securities laws apply to certain crypto assets and related transactions.

"In line with the Commission's earlier interpretative guidance, this proposal would also allow for a safe harbor once an issuer has completed or permanently ceased all essential managerial efforts that it represented or promised it would take under an investment contract," Atkins said.

Trump Moves to Bring Hyperliquid to the US

HYPE, the native cryptocurrency of the DEX Hyperliquid, has posted a strong 25% upside over the last 24 hours. The move came as Trump declared that the Hyperliquid exchange would resume its operations in the US; the DEX currently operates outside US jurisdiction due to regulatory restrictions and a lack of clarity.

Hyperliquid runs a fully on-chain order book for perpetual futures on its own Layer-1 blockchain and has grown into one of the largest venues for on-chain derivatives trading, with HYPE distributed to early users through an airdrop in November 2024 rather than a token sale. A compliant US entry would give American traders access to a platform that has so far kept them at arm's length.

Trump said CFTC Chairman Michael Selig is leading the effort to bring Hyperliquid into the country. "I understand that Mike (Selig) is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said.

In response, the CFTC chairman said he would provide further details on the crypto regulatory path on August 20. The timing coincides with the CFTC's first-ever Innovation Advisory Committee meeting in Washington, whose agenda includes discussions on crypto assets, artificial intelligence, and prediction markets.

On the daily chart, HYPE is trading up 26% at $74, according to data from CoinGecko. The token is once again challenging a breakout from its all-time high of $75; if successful, it would put Hyperliquid into a new price discovery phase.

Analyst: HYPE May Be Repeating a Prior Price Structure

Analyst Crypto Patel believes Hyperliquid's HYPE token may be repeating a previous price structure. According to the analyst, the earlier setup involved a 0.618 Fibonacci level, a bullish order block, and a fair value gap, and was followed by a move from $59 to $77 and then a new all-time high. The current setup began with a 33% decline, followed by a recovery toward $70–$74 and a subsequent retracement.

Crypto Patel identified the $70–$74 range as a potential reversal zone, but said the chances of a reversal would be invalidated if HYPE closes above $77 on the weekly higher-time-frame chart. The analyst identified $41–$32 as an accumulation zone based on the 0.5–0.618 Fibonacci range and set a long-term target of $150.