The US CLARITY Act, which aims to provide the US crypto industry with more regulatory clarity, could have a positive ripple effect beyond the crypto sector itself, according to venture capital firm a16z crypto.“If the US provides builders with regulatory clarity, it will be a boon for domestic innovation,” a16z crypto said in an X post on Friday.A16z pointed to the passage of the GENIUS Act in July 2025, which created a regulatory framework for stablecoins, as a possible indication of what may happen following the CLARITY Act. “Its passage led to unprecedented growth and adoption, which is not only good for the U.S. economy, but is also good for long-term dominance of the US dollar,” a16z crypto said. The US dollar index, which tracks the dollar’s strength against a basket of major currencies, is 99.27 at the time of publication, up 1.28% over the past 30 days, according to TradingView. A16z said:“When our legal frameworks are designed to both foster innovation and protect consumers, America leads and the world benefits.” Source: Cynthia LummisSince the US CLARITY Act was introduced in July 2025, the crypto industry has been widely speculating about its potential impact on global markets. Sharplink Gaming CEO Joseph Chalom recently said that while many view the legislation as “a US phenomenon,” it is also being seen as a major signal for other jurisdictions around the world.Source: Kalshi CryptoUS asset management firm Grayscale said in a report published on Friday that the odds of the legislation passing are high in the firm’s view, but “the bill will require bipartisan support to clear the full Senate and become law.” “There are still a few hurdles to clear before CLARITY can become law,” Grayscale said.Related: US CLARITY Act brings ‘major spike of euphoria’ to Bitcoin: SantimentThe comments came after a Thursday session of the US Senate Banking Committee, in which all 13 Republican members and two Democrats voted to advance the bill, with nine Democrats also voting no on the bill.Grayscale pointed out that Republicans currently hold 53 seats, meaning at least seven Democrats would need to support the bill. “We believe that’s possible: the GENIUS Act cleared the Senate with 66 votes including 18 Democrats,” Grayscale said.Magazine: ETH stalls at $2.4K five times, SOL to rally to $120: Market Moves

Investors are mispricing risk for perpetual preferred stocks, like Bitcoin treasury company Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), according to Matt Dines, the chief investment officer of credit asset management company Build Markets.The corporate issuers of perpetual preferred stocks never have to repay holders their principal investment, and can just pay dividends indefinitely, without renegotiating the investment terms, Dines told the Truth for the Commoner (TFTC) media outlet.If holders want to cash out, they must sell the perpetuals on the secondary market to recover their principal, which leaves holders exposed to liquidity contraction and interest rate risks that exist forever because perpetuals lack a maturity date, he said. He added:“If spreads start to rise and the market demands higher yields from corporate borrowers, you also have to attach that to the infinite duration of the perpetual. So, if this dislocation comes in liquidity, it will come from the fiat side.”Basic performance metrics for Strategy’s STRC perpetual preferred stock. Source: SaylorTrackerThe analysis comes amid growing demand for STRC; on Thursday, its daily trading volume surged to $1.5 billion, a new record for the financial instrument, as Strategy leans into preferred stock issuance to fund its Bitcoin purchases.Related: Strategy to repurchase $1.5B of 2029 convertible notesStrategy’s preferred funding vehicle may hit a ceiling in the next year STRC currently has an authorized issuance cap of about $28 billion, according to crypto research company Delphi Digital.If the authorized issuance cap is not raised before the $28 billion threshold, the company’s BTC accumulation may slow down, Delphi’s researchers said. The total notional face value of outstanding STRC shares already sits at $8.5 billion, with the total market value of all outstanding shares at the time of this writing totaling about $8.4 billion.STRC is trading at about $99 per share at the time of publication and carries a dividend rate of 11.5%, according to Strategy.Detailed STRC performance metrics. Source: StrategyThe preferred stock’s dividend rate is variable, meaning that the yield offered to investors is subject to change on a monthly basis.Strategy has also opened up voting for its common equity and STRC holders to approve semi-monthly dividend payments.Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder

Bitcoin treasury company Strategy announced on Friday that it will repurchase $1.5 billion in 0% convertible notes, due in 2029, retiring about half of the 2029 convertible note tranche’s total outstanding debt. Strategy entered into “privately negotiated transactions” with a portion of its 0% senior convertible note holders on Thursday, agreeing to repurchase the debt for an estimated $1.38 billion, according to the company’s Securities and Exchange Commission (SEC) filing. The transaction is set to settle on Tuesday of the week following the publication of this article, the company said, adding that the final repurchase amount could “vary” from the estimated amount based on market conditions. The company added:“Strategy expects to fund the repurchases with available cash reserves, proceeds from sales of securities under its at-the-market offering program, and/or proceeds from the sale of bitcoin.” Strategy’s SEC filing documenting the 2029 convertible note repurchase. Source: StrategyThe move follows comments made by Strategy co-founder Michael Saylor in May 2026, signaling that the company could sell a portion of its Bitcoin holdings to fund dividend payments, and earlier comments in February that the company plans to equitize its debt in the coming years.Related: Strategy’s Bitcoin engine faces $28B STRC ceiling: Delphi DigitalStrategy plans to swap its convertible debt for equity over the next 3-6 years Strategy plans on equitizing its convertible debt over the next 3-6 years, gradually turning holders of its credit instruments into equity holders.This would reduce the debt burden on the company, but would also dilute existing stockholder value by adding new equity shares.Source: Michael SaylorStrategy has about $8.2 billion in total outstanding debt at the time of publication, according to data from the company, and has funded its BTC buys in 2026 primarily through its Stretch Perpetual Preferred Stock (STRC).On Thursday, STRC hit $1.5 billion in daily trading volume, setting a new record for the equity instrument, and signaling strong investor interest.The company’s most recent Bitcoin purchase occurred on Monday, when it bought 535 Bitcoin for $43 million, bringing its total Bitcoin holdings to 818,869 coins, valued at about $64 billion, using BTC’s spot market price at the time of publication.Magazine: Big Questions: Can Bitcoin save you from the dreaded Cantillon Effect?