Trump Throws White House Weight Behind Crypto Market-Structure Bill as Bitcoin Jumps 5.5%

Executives from Coinbase, Payward and Blockchain.com joined the president at the White House on Wednesday ahead of the inaugural Innovation Advisory Committee session, and the resulting headlines delivered the sector's strongest policy tailwind in weeks. Trump's explicit call for Congress to 'take the next step' on the Clarity Act — the market-structure legislation that would divide oversight between the SEC and CFTC — is significant precisely because the bill has lost momentum in the Senate, where Democrats have objected to language that does not ring-fence the administration's own crypto business interests. The most immediate price reaction came in HYPE, up 11%, after Trump indicated CFTC Chair Mike Selig is working to bring Hyperliquid's perpetual futures venue onshore. That would mark a structural shift: perpetuals have been the dominant offshore derivatives product for a decade, and a compliant U.S. listing pathway would redirect volume — and fee revenue — into the domestic regulatory stack. Bitcoin's 5.5% move suggests markets are pricing a genuine reduction in legislative tail risk rather than a headline-only bounce, though traders should note the Senate arithmetic remains unresolved and the same conflict-of-interest objections that stalled the bill have not been addressed.