Crypto headlines on Aug. 20 were led by a push for U.S. market-structure legislation, a new Bitcoin treasury financing plan, and a string of closely watched whale positions.
Trump calls on Congress to move the CLARITY Act
According to Cointelegraph, U.S. President Donald Trump appeared at the White House with crypto industry executives including Coinbase CEO Brian Armstrong and Gemini co-founders Cameron Winklevoss and Tyler Winklevoss, urging Congress to pass the Digital Asset Market Clarity Act, or CLARITY Act.
The bill passed the House in July 2025, but has been stalled in the Senate for months because of disputes tied to tokenized stocks, stablecoin rewards, and potential conflicts of interest involving the Trump family.
Armstrong said the legislation would give U.S. crypto policy long-term durability. He also suggested the bill could receive more than 60 votes when the Senate votes on a cloture motion on Sept. 18. Trump said the measure has bipartisan backing and called on lawmakers to advance it in memory of late Senator Lindsey Graham. At the same time, the Commodity Futures Trading Commission and the Securities and Exchange Commission are both moving ahead with crypto-related regulatory agendas.
Telegram seeks the .gram domain
Telegram founder Pavel Durov said Telegram has applied to ICANN for the .gram domain. If it is approved, Telegram users would be able to register domains such as yourname.gram and create interactive websites hosted by Telegram through prompts.
Bitfinex says Bitcoin still lacks liquidity support
Bitfinex said the S&P 500 continues to print record highs while Bitcoin is still hovering near $64,000. In its view, the equity rally is being driven mainly by rate-cut expectations, while Bitcoin depends more directly on actual liquidity conditions.
Bitfinex added that stablecoin supply has fallen by $14 billion since mid-May. Until that supply starts growing again, the exchange said, Bitcoin’s rebound lacks funding support.
Large Hyperliquid positions stay in focus
According to Lookonchain, two whales are shorting ETH on Hyperliquid with a combined position of 50,838 ETH, worth about $98 million.
Hyperliquid News also said one whale has kept a CXMT position open for 24 days since entering on July 26. The position grew from 2.3909 million tokens to 2.9006 million tokens, worth about $24.52 million. Unrealized profit and loss stands at $5.65 million, while funding paid has reached about $4.044 million. The wallet accounts for 37.2% of open interest in that trading pair and remains far from liquidation.
Hyperliquid News said the address may belong to an investor, or an employee holding vested shares who is using a hedge to sell at a predetermined price.
On another trade, on-chain analyst Ember said U.S. premarket equities and crypto both moved higher after news that the United States would increase the scale of long-term Treasury buybacks. Ember said a Bitcoin whale that had just gone through one liquidation is once again nearing its liquidation threshold, with a BTC short position worth about $93.24 million. The liquidation price is $65,045, roughly $200 away from the current market price.
White House tech leaders meeting set for today
According to Eleanor Terrett, the White House tech leaders meeting is scheduled to begin today at 14:30 Eastern Time. Trump is expected to speak alongside Securities and Exchange Commission Chair Paul Atkins and other officials.
Expected attendees include executives from Coinbase, Ripple, Kraken, Gemini, Chainlink, a16z, Paradigm, Blockchain.com, BitGo, the Digital Chamber, the Blockchain Association, the Crypto Council for Innovation, as well as Intercontinental Exchange and Nasdaq. Patrick Witt, executive director of the White House Crypto Council, is also expected to attend.
Strategy details a Digital Credit roadmap
Bitcoin treasury company Strategy released a new investor presentation saying it holds 840,447 BTC, equal to about 4% of Bitcoin’s total supply. The company said its strategy is not limited to holding Bitcoin. It also wants to build a Digital Credit platform through capital markets, increase Bitcoin per share, and explore a “Bitcoin financial institution” model.
Strategy said the goal of its Digital Credit strategy is to issue digital credit products each year, when market conditions allow, at a scale equal to 10% to 20% of its Bitcoin reserves. It put that range at about $5.4 billion to $10.8 billion. The company said that if Bitcoin’s long-term return stays above its financing cost, the model could increase Bitcoin exposure per share for common shareholders.
Strategy remains one of the world’s largest listed corporate holders of Bitcoin. Its current Bitcoin reserves are valued at about $54.023 billion, and it also holds $4.65 billion in U.S. dollar reserves, bringing total reserves to $58.673 billion. After subtracting about $6.754 billion in debt and $15.239 billion in preferred equity liabilities, the company calculated net reserve value at about $36.68 billion.
Unitree listing lifts Wang Xingxing above the 100 billion yuan mark
Unitree debuted on Shanghai’s STAR Market and officially began trading, opening up more than 500% and taking its market capitalization above 350 billion yuan.
The prospectus shows that chairman, general manager, and chief technology officer Wang Xingxing directly holds 86.714964 million shares, representing 21.4395% of the company’s total share capital after the offering. Before the listing, Wang also indirectly held 9.5367% through the equity incentive platform Shanghai Yuyi. Based on those holdings, his combined direct and indirect stake is around 30%, putting the value of his position above 100 billion yuan and making him the richest person among the post-1990 generation.
According to New Fortune magazine’s 2025 list of post-1990 entrepreneurs, Insta360 founder Liu Jingkang had ranked as the richest in that cohort with a fortune of 20.2 billion yuan.
