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Coinbase CEO calls on SEC, CFTC after CLARITY Act fails: ‘Can’t wait on Congress anymore’

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Coinbase CEO calls on SEC, CFTC after CLARITY Act fails: 'Can’t wait on Congress anymore’


The crypto industry is now exploring ways to push forward its regulatory agenda after the CLARITY Act failed the Senate procedural vote on Tuesday, the 15th of September. 

In a post on X after the bill stalled, Brian Armstrong, Coinbase CEO, urged the main market regulators, the SEC and CFTC, to step in and create clear rules for the sector. 

We can’t wait on Congress anymore. The SEC and CFTC have the tools they need to create clear rules under existing authority, and I expect will begin working on this in earnest.

On the failed vote, Armstrong called it a “disappointment.” However, he said the failure could be “for the best,” noting that some stablecoin yield compromises in the bill were “tough to swallow.”

CLARITY Act
Source: X

White House Chief Crypto Advisor, Patrick Witt, also reiterated the same stance and called the vote outcome a “failure of American leadership.” But he warned that the global financial markets’ standards will now look up to Europe and China.  

Can the SEC and CFTC deliver crypto rules?

The attention has now shifted to the November midterm elections. 

Worth noting that several Senate Democrats who were initially perceived as moderate voted against the bills.

The Senators include Kirsten Gillibrand (D-NY), Mark Warner (D-VA), Cory Booker (D-NJ), Raphael Warnock (D-GA), Reuben Gallego (D-AZ), Angela Alsobrooks (D-MD), and Catherine Cortez (D-NV). 

In fact, these moderate Democrats have spent the past few months negotiating the bill and were expected to be the crucial swing votes to hit the 60-vote threshold for the bill to advance.

The bill stalled after a 49-50 vote. Interestingly, some of the team, such as Gallego and Alsobrooks, received considerable crypto support in past elections. 

Although the ethics provision and Democrats’ demand to rein in alleged Trump family corruption in the crypto sector were among the major deal breakers, there seems to be more of a last-minute shift. 

Reports indicated that crypto’s super PAC (Fairshake) was planning to not spend on Democrats who supported the bill. 

Still, Stand With Crypto, a Coinbase-backed lobby group, has warned anti-crypto lawmakers who voted against the CLARITY Act. 

This November, crypto voters will show up and demonstrate their power at the ballot box.

Bloomberg Analyst Eric Balchunas made a similar warning for lawmakers. 15 out of the 50 Senators who voted against the bill are up for election. 

However, Galaxy’s founder Mike Novogratz had a different take

I honestly don’t believe crypto and this bill will be a top 10 issue in this election. It was in 2024, but this year will be about the war, inflation, affordability, AI, and immigration.

It’s unclear whether the industry can win support in the next Congress post-November midterms. 


Final Summary

  • Coinbase CEO called for SEC and CFTC to fast-track crypto regulations after CLARITY Act stalled 
  • Crypto PACs want to decampaign lawmakers that voted against the bill

 



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Bitcoin and ethereum prices today, Wednesday, September 16, 2026: Crypto prices tank after CLARITY Act fails and ahead of Fed decision

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Bitcoin and ethereum prices today, Wednesday, August 26, 2026: 'Bitcoin is having a price gusher to close out August'


Bitcoin (BTC-USD) opened at $75,586.51 on Wednesday, September 16, 2026, 3.3% lower than Tuesday’s opening price. As of 7:12 a.m. ET this morning, the price of bitcoin moved higher to $75,885.53.

Ethereum (ETH-USD) opened at $2,397.64 on Wednesday, September 16, 2026, down 4.6% from Tuesday’s opening price. The price of ethereum moved up this morning to $2,404.43 as of 7:12 a.m. ET.

Both bitcoin and ethereum prices are down significantly this morning compared to the same time yesterday, following the failure of the CLARITY Act in the U.S. Senate and ahead of the expectation that the Federal Reserve will raise interest rates later today.

If the Fed does raise rates, it will be the first time in three years.

Brian Sozzi, Executive Editor at Yahoo Finance, wrote more about the CLARITY Act’s failure this morning:

The Digital Asset Market CLARITY Act failed its procedural Senate vote on Tuesday, falling short of the required 60 votes.

“Govt feels broken. 18 months of work between our industry, Democrats, and Republicans, and Clarity falls apart on the 5-yard line,” Galaxy Digital CEO Mike Novogratz — worth an estimated $5.8 billion — said in a new X post.

Added Novogratz, “All the issues got to a hard-fought compromise except one. On Ethics, both sides dug in and decided their stance was more important than the long-run good of a major industry and our country’s chance to lead it. Republicans were afraid of putting real limits on a President’s ability to profit from digital assets. Dems decided that this one industry is where they would fight a corruption battle. They were scared to be seen doing anything that could be perceived as being soft on the President.”

Senate Democrats blocked the advancement of CLARITY over lingering concerns regarding government ethics provisions and presidential conflicts of interest. President Trump and his family have long been a key player in crypto with their various investments.

Keep reading: Crypto billionaire on Clarity Act dying: Government feels broken

The price of bitcoin this morning, Wednesday, September 16, 2026, was 3.3% lower than Tuesday’s opening price. Here’s a look at how the opening bitcoin price has changed versus last week, month, and year:

  • One week ago: -3.6%

  • One month ago: +19.9%

  • One year ago: -34.5%

The all-time high for bitcoin was $126,198.07 on Oct. 6, 2025. The all-time low value for bitcoin was $0.04865 on July 14, 2010. 

The price of ethereum this morning, Wednesday, September 16, 2026, was 4.6% lower than Tuesday’s open. Here’s a look at how the opening ethereum price has changed versus last week, month, and year:

  • One week ago: -3.5%

  • One month ago: +27.5%

  • One year ago: -47%

The all-time high for ethereum was $4,953.73 on Aug. 24, 2025. The all-time low value for ethereum was $0.4209 on Oct. 21, 2015. 

Bitcoin, ethereum, and other cryptocurrencies are rapidly evolving. Follow the latest developments from Yahoo Finance and others here.

You generally owe taxes when you sell cryptocurrency for more than you paid for it. This also applies when you exchange one digital asset for another. Converting bitcoin into ethereum, for example, isn’t “just a trade” in the eyes of the IRS. It’s a taxable event if the value changes.

Crypto taxes aren’t paid at the time of the transaction, but instead, they’re reported on your tax return for the year in which the transaction took place. So, if you sold crypto for a profit at any point during 2025, that activity is reported when you file your 2025 return in early 2026.

How much tax you pay depends on two main factors:

  1. How long you held the asset before selling

  2. Your overall taxable income and filing status

Hold it for less than a year, and you’ll usually face higher rates. Hold it longer, and the rates tend to be lower.

This holding-period distinction matters more than most people realize. A few days can make a difference of as much as 17% or more — so timing matters.

Learn more: Yes, crypto is taxed. Here’s when you have to pay.

Whether you’re brand new to tracking the value of bitcoin and ethereum or a more seasoned crypto investor, Yahoo Finance’s price-of-bitcoin and price-of-ethereum charts below show a visual history of how the currencies’ value continues to move and evolve.

More on crypto from the Yahoo Finance team: 



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Bitcoin loses touch with the Dollar Index, U.S. stocks ahead of the Fed: Crypto Daily

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Bitcoin options traders are dropping their hedges going into the Fed meeting

With those correlations weaker, protective positions that worked recently, notably hedging bitcoin against S&P 500 index futures on the assumption it would keep tracking risk assets, are less reliable for now. (If bitcoin usually tracks U.S. stocks, a long-bitcoin book can be faded, or hedged, by shorting the index futures.)

“That means the beta hedge that would have worked Monday is unreliable today, and today’s FOMC reaction may be swamped by regulatory follow-through,” Liu said.

That sets up the decision, due at 2 p.m. ET, as a test of whether bitcoin re-establishes the relationship with the dollar and stock market or keeps trading off regulatory news.

The Fed is widely expected to raise interest rates by 25 basis points. That move is largely priced in, and most investment banks are still forecasting additional hikes by year-end.

Unless Chair Kevin Warsh delivers a larger increase or unexpectedly hawkish guidance, some observers say the Dollar Index could slide. A weaker dollar would, in isolation, be a tailwind for bitcoin.

Traders should also watch Treasury yields. A sharp rise in yield volatility can tighten financial conditions and revive risk-off flows across crypto.

“The market lull can easily be attributed to expectations of signals from the Fed later on Wednesday, which have greater potential to influence volatility than the 25-basis-point rate hike already priced in,” Alex Kuptsikevich, the chief market analyst at The FxPro, said in an email. Stay alert!



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How to Find Your Self-Worth Without Relying on Recognition

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How to Find Your Self-Worth Without Relying on Recognition


Opinions expressed by Entrepreneur contributors are their own.

Key Takeaways

  • Building your identity around titles such as “founder,” “writer” or “leader” makes your self-worth more dependent on other people’s recognition.
  • Focusing on verbs shifts your attention from protecting an image to creating value through action.
  • The giver mindset can reduce ego-driven pressure by making contribution, rather than validation, the measure of completion.

“Hell is other people,” Jean-Paul Sartre wrote in No Exit. Philosopher Kiki Berk examines the phrase in her analysis of Sartre’s view of personal relationships. It does not simply mean that other people are unpleasant or responsible for our unhappiness. It describes what happens when another person looks at us and turns us into an object inside their consciousness.

They interpret our behavior, assign motives to our actions and create a version of us that exists independently of the person we believe ourselves to be. You may be generous and still appear selfish, remain silent and appear weak, or speak confidently and appear arrogant. You can explain yourself, improve your performance and try to correct the judgment, but you can never enter another person’s mind and arrange your image exactly as you wish. Their perception remains outside your control, yet much of your identity may still depend on receiving the right verdict from it.

The identity trap

Jennifer Crocker and Katherine Knight write that self-esteem depends on “what people believe they need to be or do to have worth as a person” in Contingencies of Self-Worth. This is the real danger of labels. Once your worth depends on being a founder, writer or leader, an ordinary setback stops being an event and becomes evidence against who you are.

Anlan Zheng, Brittany Duff, Patrick Vargas and Mike Yao found that people “choose to share things that are self-enhancing” in their research on social-media self-presentation. That habit does not remain online. We begin observing ourselves while we work, travel, learn and build, asking what each activity says about us instead of whether the activity itself matters.

Ryan Holiday’s title Ego Is the Enemy makes the diagnosis explicit, while its publisher describes successful figures as “conquering their own egos.” I agree with the warning more than the title. Ego can support ambition, but it becomes dangerous when the appearance of work replaces the work and recognition becomes more important than knowledge.

Daphna Oyserman writes that “identities are dynamically constructed in context” in her work on identity-based motivation. We are obsessed with nouns rather than verbs. We do not simply want to build; we want to become founders. We do not simply want to write; we want to become writers. We do not simply want to lead; we want to be recognized as leaders. The action is no longer sufficient. It must produce a title, and the title must then be protected.

Once “founder” becomes who you are, a failed product is no longer merely a failed product. It threatens the identity itself. Oyserman explains that identity shapes how people interpret difficulty in the same research. The harder you work to preserve the noun, the easier it becomes to interpret ordinary setbacks as proof that you do not deserve it.

Put the verb first

Richard Ryan and Edward Deci write that “social environments can facilitate or forestall intrinsic motivation” in their foundational paper on self-determination theory. Putting the verb first changes the environment inside your own mind. Building matters more than looking like a founder. Writing matters more than being recognized as a writer.

The noun asks the world for confirmation, whereas the verb returns you to action. When the noun comes first, you build to prove that you are an entrepreneur. When the verb comes first, you build because a problem deserves a solution. One protects an image. The other creates value.

But every verb still needs a subject. Someone builds, writes, teaches and leads. Adam Grant writes that prosocial motivation can promote “high levels of persistence, performance, and productivity” when intrinsic motivation is also high in Does Intrinsic Motivation Fuel the Prosocial Fire? I call that subject the giver: the person who builds because a problem deserves a solution and writes because an idea deserves form.

Why the giver is different

Crocker and Knight call contingencies of self-worth “areas of psychological vulnerability” in their research. A founder needs a company, a writer needs work and a leader needs recognition of the role. Each identity contains a condition that must repeatedly be satisfied. The giver can build today, teach tomorrow and listen the day after without losing the central subject.

Mark Bolino and Adam Grant define prosocial motivation as “the desire to benefit others or expend effort out of concern for others” in their review of prosocial work. That direction makes the giver less sensitive to ego. Instead of asking, “Do I still deserve this title?” the giver asks, “What can I contribute here?” The identity rests less on a category and more on the movement of the action.

The risk of performing generosity

Ryan and Deci describe intrinsic motivation as behavior that is “inherently interesting and enjoyable” in their research. Giving can lose that autonomy when it becomes a performance. You can help to feel indispensable, mentor to be admired or sacrifice so that others feel indebted. You can give while still asking.

The solution is not to abandon the giver identity but to define it carefully. Grant suggests that contribution is more sustainable when the action itself remains meaningful. Before acting, ask whether you are creating value or protecting an identity, whether you would still act if nobody knew and whether the action feels complete without recognition.

Kiki Berk writes that Sartre’s philosophy does not exclude “an ethics of deliverance and salvation” in her discussion of No Exit. You may never control the person you become in somebody else’s mind, but you can stop making that person the place where your work becomes complete. Stop trying to look like a founder. Build. Stop trying to look like a leader, and instead, actually lead. Choose the verb, define the giver carefully and let contribution, instead of recognition, become the center of your mindset.

Key Takeaways

  • Building your identity around titles such as “founder,” “writer” or “leader” makes your self-worth more dependent on other people’s recognition.
  • Focusing on verbs shifts your attention from protecting an image to creating value through action.
  • The giver mindset can reduce ego-driven pressure by making contribution, rather than validation, the measure of completion.

“Hell is other people,” Jean-Paul Sartre wrote in No Exit. Philosopher Kiki Berk examines the phrase in her analysis of Sartre’s view of personal relationships. It does not simply mean that other people are unpleasant or responsible for our unhappiness. It describes what happens when another person looks at us and turns us into an object inside their consciousness.

They interpret our behavior, assign motives to our actions and create a version of us that exists independently of the person we believe ourselves to be. You may be generous and still appear selfish, remain silent and appear weak, or speak confidently and appear arrogant. You can explain yourself, improve your performance and try to correct the judgment, but you can never enter another person’s mind and arrange your image exactly as you wish. Their perception remains outside your control, yet much of your identity may still depend on receiving the right verdict from it.

The identity trap

Jennifer Crocker and Katherine Knight write that self-esteem depends on “what people believe they need to be or do to have worth as a person” in Contingencies of Self-Worth. This is the real danger of labels. Once your worth depends on being a founder, writer or leader, an ordinary setback stops being an event and becomes evidence against who you are.



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Rich Dad Poor Dad author warns biggest crash in history has started

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'Rich Dad Poor Dad' author touts 10-year-old investment amid '$1.2 billion' debt


Robert Kiyosaki isn’t pulling punches this time. The “Rich Dad Poor Dad” author said on X early Tuesday that the “biggest crash in history has started,” pointing to turbulence in Europe and Japan as the opening act of a global downturn he says he predicted more than two decades ago.

Kiyosaki tied his warning to his 2002 book, “Rich Dad’s Prophecy,” which he said was written to help people “profit and not be victims” of a massive stock and bond market collapse.

He argues that the crash is now unfolding in 2026, driven by a mix of AI mania, geopolitical tensions including the war in Iran, excessive debt levels, and the retirement of the Baby Boom generation.

“In 2026, that crash started, in Europe and Japan and is spreading across the world. It’s caused by many factors, the AI frenzy, war in Iran, too much debt, and a retiring Baby Boom generation,” he wrote on X.

For investors with 401(k)s, IRAs, or similar retirement accounts, especially those over 40, the message is stark: you may be in trouble unless you act.

Related: If you invested $1,000 in gold & Bitcoin 10 years ago, here’s how much money you’d have today

Kiyosaki drew a parallel to the Great Depression, which he said lasted 25 years from 1929 to 1954, noting that prepared families like the Kennedys used the period to grow wealth while others suffered.

The assets he’s backing

Kiyosaki has long urged followers to move beyond cash and paper assets.

His current playbook remains consistent: personal businesses, income-producing real estate, oil-producing wells, and hard assets like gold, silver, and Bitcoin.

He expects central banks to respond with more “fake money printing,” which in his view makes holding cash a losing strategy.

This aligns with his recent messaging on quantitative easing. In a post last month, Kiyosaki warned that new rounds of QE would reignite inflation and erode the dollar’s purchasing power, making savers “the biggest losers.”

He pointed to the Dollar Index (DXY) as a key signal: when it falls, every dollar saved buys less.

Four assets, one thesis

Kiyosaki’s core thesis is simple: own assets that rise when the dollar falls. He names four, gold, silver, Bitcoin, and select real estate, as rational hedges against a monetary system that punishes passive savers.

“Facts are educated investors who invest in assets that go up in value, such as gold, silver, Bitcoin, some real estate, get richer, while people who are financially uneducated, and invest in fake assets get poorer,” he wrote in his earlier post.



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Ethereum, Base abandon common wallet standard talks after months of discussions

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Ethereum, Base abandon common wallet standard talks after months of discussions

Ethereum and Coinbase-backed Base abandoned an effort to build a common standard for the next generation of crypto wallets, with developers on both sides deciding the compromise cost each network too much.

The goal was to make crypto wallets behave more like modern apps. Users could log in with passkeys, recover accounts in different ways, allow an app to pay transaction fees and bundle several blockchain actions into a single transaction. Holding ETH simply to pay a network fee would become optional.

The disagreement centered on differences in the blockchains’ priorities, and developers spent months trying to merge the two designs. The inability to reach an agreement means developers designing wallets that work across both networks may need to support two different ways of constructing and approving the same transaction.

“Ethereum wanted to be the best version of Ethereum, and Base wanted to be the best version of Base, and while both sides acknowledged the benefits of ecosystem interoperability, it was ultimately secondary to the need for each chain to achieve their core goals,” Derek Chiang, an Ethlabs developer involved in the work, posted on X.

According to Chiang the cooperation efforts broke down last week.



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Arbitrum price eyes $0.23 – But is Standard Chartered’s $10 ARB call realistic?

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Arbitrum price eyes $0.23 - But is Standard Chartered’s $10 ARB call realistic?


Arbitrum [ARB] has rallied 17.2% in the past 24 hours at press time, with a 220% spike in daily trading volume. The strong gains were accompanied by a 32.5% increase in Open Interest, according to Coinalyze data.

Standard Chartered sees 7,000% ARB surge

The sizeable influx of demand was driven by the Standard Chartered report giving Arbitrum a glowing bullish price target. By 2030, the altcoin is forecast to reach $10, nearly 70 times the token’s current market value.

The global banking giant called Arbitrum the “blockchain for TradFi”. Arbitrum Expansion Program (AEP) fees are collected when another chain settles transactions using the Arbitrum stack.

The AEP fee is 10%, and Robinhood Chain is the biggest of this line, helping Standard Chartered put Arbitrum’s September revenue at around $5 million, a fivefold increase from before Robinhood Chain’s launch.

AEP was just one of the factors, such as treasury management returns, Arbitrum One transaction fees, and Timeboost express-lane auctions.

The Arbitrum price forecast

Arbitrum 1-day Chart
Source: ARB/USDT on TradingView

On the daily timeframe, a bullish shift occurred back in July, when the downtrend’s swing point at $0.09 was breached. Following this structure break, ARB has set higher lows and higher highs.

The bulls have also breached the $0.1495 weekly swing point, proving their strength. The retracement from $0.20 to $0.13 in September has set back the momentum and capital flows. Notably, the CMF was below -0.05, and the MACD reflected a pullback, too.

The 61.8% Fibonacci retracement level at $0.13 was defended, and ARB was already testing the $0.15 level.

If buying pressure continues to recover and ARB pushes higher, a move higher to the extension level at $0.2357 would be the next target for the coming weeks.

Arbitrum 2-hour ChartArbitrum 2-hour Chart
Source: ARB/USDT on TradingView

In the short-term, the technical indicators were bullish. The CMF reflected increased capital inflows, and the MACD underlined that bullish momentum was prevalent once more.

Moreover, the $0.15 area, a local resistance zone over the past week, was being tested and would likely be overcome soon. If this scenario unfolds, Arbitrum swing traders and investors have reason to be bullish for the coming days, and a rally toward $0.20 and $0.23 becomes more likely.


Final Summary

  • Standard Chartered gave a $10 target for ARB by 2030, a 66x increase from current market prices.
  • The price action has been bullish since July, and the early September rally has faced a healthy retracement and was recovering at the time of writing.



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