🚀 Senate Clashes Over Altcoins, Trump’s Tariff Truce Collapses & Crypto’s Wild Week Unpacked
Washington turns up the heat on altcoins as senators lock horns over regulation—while Trump’s tariff pause flames out, sending shockwaves through markets. Here’s what you missed.
Altcoins in the Crosshairs
The Senate’s latest crypto hearing devolved into a partisan slugfest, with progressives pushing for stricter oversight and libertarians screaming overreach. No consensus, just chaos—classic DC.
Tariff Truce Goes *Poof*
Trump’s temporary tariff freeze expired with a whimper, leaving traders scrambling. Silver lining? Crypto volatility spiked—perfect for degenerates chasing 100x leverage.
The Bottom Line
While politicians dither, Bitcoin’s hash rate hits another ATH. Funny how code outpaces bureaucracy every damn time. (Take notes, Wall Street.)
Kaito Capital Launchpad for Token Launches
Among the expected headlines for this week’s top crypto news, Kaito will release a capital launchpad for token launches. According to Kaito founder Yu Hu, the launch is expected to drive significant revenue growth, with stakers positioned for rewards.
will publish Q2 recap and Q3 outlook in early July
– Q2 was the biggest Q ever for Kaito
– Q3 we shall see the introduction of new products, new distribution, and new mechanisms of existing products
stay tuned for
– capital launchpad
– relaunch of Kaito Connect (new…
Based on Yu Hu’s assertions about staking rewards, the mechanics of this launchpad could involve staking KAITO tokens. While ecosystem participants will likely monitor good distribution, the ecosystem may reward participation.
Those who joined Kaito after the controversial first airdrop might not have enough tokens. Similarly, those who joined much later might not hold any KAITO tokens.
To attract these new groups of Kaito users to the upcoming Kaito capital launchpad, airdropping some KAITO tokens WOULD make sense. Doing so would also allow them to activate a larger pool of Kaito participants.
New Yapper Leaderboards are cool but,
Just me waiting patiently everyday for @KaitoAI's Capital Launchpad and new Kaito Connect to drop.
Kaito-Aligned
pic.twitter.com/zo9W9BgANs
BeInCrypto data shows that the KAITO token was trading for $1.53 as of this writing, down by 0.41% in the last 24 hours.
Senate to Discuss Tokens’ Commodity Status
Traders can also front-run the US Senate’s tokens’ commodity status. On Wednesday, July 9, the US Senate will debate whether tokens like XRP qualify as digital commodities under US law.
MARK YOUR CALENDARS:This July 9, the Senate takes up the question: can tokens like XRP be officially recognized as digital commodities?
A critical turning point, if greenlit, it could open the floodgates for altcoin spot ETFs before year’s end.
Posted in collab with the CoinEx… pic.twitter.com/ZAWL0qOwQZ
Lawmakers will examine these tokens’ fundamental characteristics, weighing their similarities to traditional commodities more closely. The Senate will also assess whether they meet the necessary criteria for this classification.
If the Senate recognizes tokens like XRP as digital commodities, it would pave the way for a new wave of financial products. The general sentiment is that this may be crucial in approving altcoin ETFs (exchange-traded funds).
Such a development would allow investors to gain direct exposure to altcoins through regulated investment vehicles. This could bring billions of dollars in institutional capital into the market and significantly boost mainstream adoption.
SOL community members continue to face similar challenges in the race for a solana ETF, with SEC Commissioner Hester Pierce saying the regulator needs more convincing before green-lighting the financial instrument.
Amidst questions about what regulators think is a security and not, Solana must meet the SEC’s strict regulatory requirements. A demonstration that Solana can operate successfully within regulated environments globally could support the case for US approval.
These include compliance with financial regulations, anti-money laundering laws (AML), and know-your-customer (KYC) protocols. It must also demonstrate strong market demand, liquidity, and secure custody solutions.
Meanwhile, VanEck’s head of research, Mathew Sigel, believes an ethereum ETF qualifies Solana for the same market. This is based on the assumption that the same qualities that qualify ETH as a commodity also apply to SOL.
End of Trump’s 90-Day Tariff Negotiations
From a US macro-economic front, the end of Trump’s 90-day tariff negotiations is also a key crypto news this week. In May, the US and China reached a trade agreement, indicating a 90-day pause, with both countries cutting tariffs by 115%.
The US and China have reached a trade agreement on a 90-day pause:
Both countries will cut tariffs by 115%
US: 145%
30%
China: 125%10%
Bessent the Benevolent!pic.twitter.com/ChaBeTTX4E
Before that, there was another tariff hiatus on April 2, with NBC reporting that steep tariff rates could resume after the 90-day pause that rocked financial markets elapses.
Market participants from traditional and speculative sectors remain curious about what happens afterward.
If you want to understand how big Trump's tariff war has failed, just look at what's now being reported
In April, TRUMP proudly boasted that "everybody wants to make a deal" and it was possible for 90 deals in 90 days.
The reality? Over 100 countries didn't even bother to… pic.twitter.com/MMU5TKuKBO
As President Trump’s 90-day tariff pause ends, the focus shifts to whether new trade penalties will MOVE markets.
Despite threats of sweeping hikes, global investors seem unfazed, raising concerns about whether tariffs still matter.
FOMC Minutes and Crypto Tax Policy Hearing
BeInCrypto reported two US economic signals that could influence Bitcoin price this week. Beyond the FOMC minutes from its May meeting, the US House will hold a digital asset tax policy hearing on Wednesday.
The House intends to build a tax framework for Bitcoin and crypto, aligning with President Trump’s initiative to make the US the crypto capital of the world.
Ripple CEO Brad Garlinghouse, who will speak before the US Senate Banking Committee, is among the expected attendees to testify.
The session is pivotal, marking the first major step toward reshaping how crypto is taxed, regulated, and adopted in the US.
Perhaps it will be the gateway to unlocking trillions in capital for the industry, as it could tick all the boxes on institutional investors’ list of considerations.
