08/16 update below. This post was originally published on August 15
Bitcoin and crypto prices have limped through 2026, despite U.S. president Donald Trump’s support and the Federal Reserve’s bitcoin nightmare suddenly coming true.
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The bitcoin price has just about managed to keep its head above water even after crashing by around 50% since October last year, with the bitcoin price trading sideways at around $60,000 for the last six months.
Now, as BlackRock reveals it’s just seen something shift, Trump is expected to attend a major bitcoin and crypto company meeting at the White House this coming week, according to various reports.
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ForbesThe Fed’s Bitcoin Nightmare Is Suddenly Coming TrueBy Billy Bambrough
U.S. president Donald Trump is expected to attend a major bitcoin and crypto company meeting this week, according to reports citing anonymous sources.
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The meeting is due to bring together bitcoin and crypto company executives from the likes of Coinbase, Ripple, Gemini, Robinhood, Polymarket and Kalshi with top regulators Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), and Paul Atkins, the chair of the Securities and Exchange Commission.
U.S. Treasury secretary Scott Bessent and Commerce secretary Howard Lutnick may also attend, according to a Coindesk report, citing anonymous sources.
The meeting was first reported by Politico, citing anonymous sources, with Bloomberg sources adding that Trump is expected to attend.
The Wednesday White House meeting will take place just before Thursday’s Commodity Futures Trading Commission’s (CFTC’s) meeting of its Innovation Advisory Committee, a panel made up of executives from top crypto, finance and prediction market companies.
After the long-awaited crypto market structure bill known as the Clarity Act failed to get a Senate vote before the August recess, U.S. Senate majority leader John Thune scheduled a key procedural vote for the bill in mid-September, potentially paving the way for a full floor vote on the bill.
08/16 update: The crypto industry has dramatically cut its expectations that the the crypto market structure bill known as the Clarity Act will be passed into law this year, called the bitcoin price’s “ultimate catalyst” by analysts earlier this year.
“Clarity Act passage remains a possibility, but we are firmly in ‘circus trick’ territory–if it is to pass in 2026, we need magic,” Alex Thorn, Galaxy Digital’s head of research, wrote in an X post, adding he has lowered the “odds of Clarity Act passage in 2026 to 10%.”
However, developments from the U.S. Securities and Exchange Commission (SEC)—including the highly anticipated regulation exemptions known as “Reg Crypto,” and the so-called “innovation exemption” that’s expected to allow companies to experiment with new crypto business models, such as blockchain-based stocks, without having to comply with all SEC disclosure and investor safeguards—are poised to shake up the market.
“Regardless of the Clarity Act’s momentum or outcome, though, we now expect the Commission to publish the texts of Reg Crypto, the Innovation Exemption, or both over the next several weeks or couple months, another reminder that the crypto industry is poised for exciting times and a positive regulatory environment ahead even without Clarity,” Thorn wrote.
Others, including some from the world of traditional finance, remain more upbeat about the chances of passing the bill.
Citigroup chief executive Jane Fraser, who has cultivated a close relationship with the Trump White House, has said she would like to see the Clarity Act passed into law, though she remains concerned about the bill’s treatment of stablecoin rewards and its potential to undermine bank deposits.
“We have not given up on pushing to get some improvements made to the bill, but we would like to see a good bill go through,” Fraser told Fox Business. “I think it would be excellent for the system.”
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The bitcoin price has flatlined this year, though many see bitcoin turning a corner.
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“Recent progress on the Clarity Act suggests that Washington continues to move toward establishing a clearer regulatory framework for digital assets,” Linh Tran, market analyst at XS.com, said in emailed comments.
“This is unlikely to serve as an immediate catalyst for bitcoin prices, but over the longer term, greater regulatory clarity could help reduce one of the key risks that has historically made traditional institutions cautious about entering the crypto market.”
The odds of the Clarity Act passing into law this year have plummeted in recent months on the Polymarket and Kalshi prediction platforms, dropping to around 20% from a peak of around 80% in the first few months of the year.
“The picture in bitcoin is more constructive than it has been in months, but every indicator that matters is stacked into a single resistance zone between $67,000 and $70,000,” Andreja Cobeljic, head of derivatives trading at Amina Bank, said in an emailed note. “The Clarity Act could break the stalemate in either direction, but its probability has dropped and it has become partisan.”