Crypto Market Update: Bipartisan Senate Compromise Puts CLARITY Act Back on Track

Here’s a quick recap of the crypto landscape for Monday (May 4) as of 10:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news

Bitcoin (BTC) was priced at US$79,832.34, up by 0.7 percent over the last 24 hours.

Chart via TradingView

Bitcoin price performance, May 4, 2026.

Bitcoin has officially breached the US$80,000 milestone as global markets react to President Donald Trump’s newly announced “Project Freedom” military initiative.

The operation is designed to escort neutral foreign vessels out of the highly contested Strait of Hormuz, deploying 15,000 US service members alongside a massive naval and air fleet.

While crude oil benchmarks like Brent and WTI saw modest declines following the news, the world’s largest cryptocurrency caught a sudden tailwind, rallying nearly 2 percent during early Asian trading. Trump framed the heavy military deployment as a strictly humanitarian gesture to free stranded merchant ships, claiming that diplomatic talks with Tehran were surprisingly positive.

Ether (ETH) was priced at US$2,367.92, up by 1.2 percent over the last 24 hours.

Altcoin price update

• XRP (XRP) was priced at US$1.42, up by 0.5 percent over 24 hours.

• Solana (SOL) was trading at US$85.06, trading 0.3 percent higher over the past 24 hours.

​Today’s crypto news to know

Bipartisan Senate compromise puts CLARITY Act back on track

The digital asset industry is inching closer to a massive legislative victory as Senate negotiators successfully revive the stalled CLARITY Act.

Lawmakers have reportedly struck a compromise regarding stablecoin rewards, a highly contentious issue that had previously gridlocked the bill. Traditional banks had fiercely lobbied against allowing crypto platforms to offer yield-like rewards on dollar-pegged tokens because of fears of a massive exodus of customer deposits.

Under the new bipartisan agreement spearheaded by Senators Thom Tillis and Angela Alsobrooks, passive deposit-style interest will face strict limitations. However, crypto firms will still be legally permitted to offer financial incentives directly tied to actual on-chain activities like staking or platform payments.

Senate Banking Committee Chair Tim Scott announced that the legislation is now in the “red zone,” with hopes of securing unanimous Republican support for a formal markup later this month.

Strategy halts weekly Bitcoin purchases ahead of Q1 earnings call

Michael Saylor’s Strategy (NASDAQ:MSTR) has temporarily paused its relentless Bitcoin buying spree just days before the company reports its first-quarter earnings for 2026.

The software giant, which essentially operates as a massive Bitcoin proxy, has cultivated a strict weekly purchasing rhythm that investors track as a gauge for corporate crypto demand.

Chairman Michael Saylor confirmed the brief hiatus on social media, explicitly assuring the market that the “buy every week” strategy will resume its normal schedule next week.

Strategy currently holds a staggering 818,000 BTC, amassed at an average price of US$75,537, pushing its total digital asset investment well past the US$61 billion mark.

To fund this aggressive accumulation, the company continues to leverage high-yield preferred stock options, like its STRC shares, to avoid diluting its common shareholder base.

Pyongyang slams “absurd” cybercrime accusations

The North Korean government is fiercely denying allegations that state-sponsored hackers are responsible for a massive wave of cryptocurrency thefts.

In a fiery statement released through state-run media, a Foreign Ministry spokesperson dismissed the mounting accusations from the US government and blockchain researchers as “absurd slander.” The official characterized the claims as a coordinated smear campaign designed to spread a false narrative about non-existent cyber threats from the DPRK.

Pyongyang even turned the tables, accusing Washington of playing the victim while actively using its superior IT infrastructure to conduct indiscriminate cyber warfare against rival nations.

However, independent blockchain forensics paint a drastically different reality regarding the source of recent decentralized finance exploits.

A new report from TRM Labs attributes roughly 76 percent of all crypto hack losses recorded so far in 2026 directly to North Korea-linked threat actors. These state-backed syndicates are reportedly responsible for devastating attacks on platforms like Drift and KelpDAO, siphoning a combined US$577 million in just the first few months of the year.

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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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