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US House revives Crypto Week agenda, advances three crypto bills

  • Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act.
  • The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback.
  • Many House Democrats continue to push against all three bills.

The US House of Representatives voted narrowly on Wednesday to resume its push on a slate of high-profile cryptocurrency bills, reviving what Republican lawmakers have dubbed “Crypto Week” after the initial attempt to advance the legislation collapsed earlier in the week.

Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act — or GENIUS Act — which establishes a regulatory framework for US dollar-pegged stablecoins and has already cleared the Senate.

If passed in the House later this week, the bill would head to President Donald Trump’s desk for his signature.

In a separate vote, the House also agreed to move forward with the Digital Asset Market Clarity Act, commonly referred to as the Clarity Act, which would delineate regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for overseeing digital assets.

A bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals will also move to a final vote.

Tuesday’s vote collapsed amid GOP defections

The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback, when the House voted 196 to 223 against even considering the three bills.

That vote saw a bloc of Republicans defect over concerns about the CBDC provisions in the GENIUS Act.

According to reporting from The Hill, GOP Reps. Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna were among those who voted no.

Greene cited lingering concerns that the GENIUS Act might provide a legal foundation for the Fed to roll out a digital dollar — a claim that has been denied by the bill’s authors.

Following the failed vote, President Trump intervened directly, telling reporters late Tuesday that “key lawmakers” had agreed to support the bill.

His comments were widely interpreted as helping to unify GOP ranks ahead of Wednesday’s procedural votes.

Democrats oppose measures, call them dangerous

No Democrats supported moving forward with any of the bills, setting the stage for a partisan showdown as the legislation moves toward final passage votes.

In a press conference earlier on Wednesday, House Financial Services Committee ranking member Maxine Waters warned that both the GENIUS and Clarity Acts would dangerously deregulate the crypto sector.

“These bills are a gift-wrapped invitation for Trump to continue his full-scale crypto con,” Waters said, calling the legislation “two of the most dangerous pieces of legislation” proposed during the current session.

Democrats have also voiced concerns that the bills would undermine consumer protections and erode the Fed’s authority, especially as Republicans seek to ban the issuance of a Fed-backed digital dollar.

The post US House revives Crypto Week agenda, advances three crypto bills appeared first on CoinJournal.

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ADA price jumps as Cardano founder Charles Hoskinson responds to scam allegations

  • Cardano (ADA) has jumped 39% in July amid bullish technical patterns.
  • Cardano founder Charles Hoskinson has denied scam claims.
  • A break above $0.80 could push ADA toward $1 and beyond.

Cardano (ADA) has surged in value following a mix of bullish technical patterns and a heated public exchange involving its outspoken founder, Charles Hoskinson.

The price of ADA currently sits at around $0.75, climbing over 39% in July alone and catching the attention of traders and analysts alike.

Despite the distraction caused by the scam allegations levelled against Input Output (IOG), Cardano’s strong price action and favourable chart structures suggest that its bullish trend remains intact.

Hoskinson hits back at online scam claims

A person named Robin Engraf emailed Hoskinson, accusing Gabriel Martin, allegedly from Input Output (IOG), of embezzling funds during a supposed “trade withdrawal.”

Engraf claimed to have months of chat logs and bank records, urging US authorities to act.

In response, Hoskinson, the founder of Cardano and IOG, has responded to the email publicly, dismissing the accusation as not only baseless but also a reflection of broader gullibility in crypto communities.

In a stern statement, Hoskinson has criticised the trend of blaming public figures for falling victim to scams, calling out what he described as “carelessness and stupidity.”

He emphasised that such incidents are not new and have been occurring for nearly a decade, largely due to impersonators and false promises of extraordinary returns.

Hoskinson didn’t hold back as he argued that people often refuse to take responsibility after being deceived by schemes that promise easy profits.

He noted that victims of scams frequently turn their frustrations toward legitimate figures and companies, despite having no evidence of wrongdoing on their part.

While Hoskinson’s remarks sparked debate online, they also served as a reminder of the ongoing risks tied to impersonation fraud in the cryptocurrency space.

His message, though controversial, aligned with years of warnings about avoiding offers that seem too good to be true.

Current Cardano price action signals a bullish momentum

Even as this public spat unfolded, ADA’s market performance has continued to impress.

The cryptocurrency recently broke out of a long-standing downtrend around $0.63 and has since climbed steadily, forming a series of higher lows and testing resistance at $0.78.

According to market analysts, ADA is currently forming a symmetrical triangle pattern on the 4-hour chart, often a bullish continuation signal.

If the price pushes decisively above $0.80, it could open the path toward $0.84 and potentially even the psychological $1.00 mark.

Technical indicators also appear to support this view, with the Relative Strength Index (RSI) climbing above 70 and the Moving Average Convergence Divergence (MACD) maintaining a bullish crossover on both daily and weekly timeframes.

On-chain volume has also increased during price rallies, further supporting the case for sustained upward momentum.

Trader sentiment has tilted strongly bullish

Alongside strong technicals, trader positioning continues to lean bullish.

According to TapTools, over 70% of open positions on Hyperliquid and Binance are long on ADA, suggesting that the broader market expects further gains in the near term.

This confidence has been building as ADA remains above key support levels, particularly the $0.73 mark.

ADA’s price range over the last 24 hours has fluctuated between $0.7151 and $0.7536, with current levels testing the $0.78 resistance zone.

If bulls manage to flip this zone into support, analysts expect a smooth move toward higher targets in the coming weeks.

Despite the lingering distraction caused by the scam allegations, traders appear more focused on ADA’s improving fundamentals and technical posture.

Hoskinson’s blunt response may have sparked debate, but it has not shaken the conviction among ADA supporters.

The long-term ADA price outlook is optimistic

With its market cap standing at over $27 billion and a circulating supply exceeding 36 billion tokens, ADA continues to rank among the top 15 cryptocurrencies.

Analysts like StonkChris see potential for ADA to revisit the $2 level later this year, especially if broader market sentiment continues to shift risk-on.

The recent launch of Reeve, an open-source middleware platform by the Cardano Foundation, adds another layer of optimism.

The initiative aims to bridge blockchain with traditional ERP systems, reinforcing ADA’s use case in enterprise environments.

In the short term, all eyes are on ADA’s ability to hold key support levels and break through resistance with conviction.

As technicals align with market sentiment, ADA may be setting up for one of its most important moves of the year.

While controversy continues to swirl around its founder, Cardano’s price action remains strong, reminding the market that, in crypto, fundamentals often speak louder than headlines.

The post ADA price jumps as Cardano founder Charles Hoskinson responds to scam allegations appeared first on CoinJournal.