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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Armstrong Backs the CLARITY Act: Coinbase CEO Brian Armstrong has officially backed the latest version of the CLARITY Act, praising a "healthy compromise" on stablecoin yields brokered by Senators Tillis and Alsobrooks.

2. Charles Schwab Spot Crypto Trading: harles Schwab ($11.77 trillion in assets) launched "Schwab Crypto" this Tuesday, allowing select retail clients to trade spot Bitcoin and Ether.

3. Immunefi Absorbs Code4rena: Immunefi is absorbing the researcher and customer base of its pioneer rival, Code4rena, which is winding down operations despite previous backing from Paradigm.

4. 💡Feature of the Day - Kevin Warsh Confirmed as Fed Chair: The Senate confirmed Kevin Warsh as the new Federal Reserve Chair in a 54-45 vote. He will succeed Jerome Powell this Friday.

   
   All this and more in today’s headlines!

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📰 News Highlights:

Armstrong Backs the CLARITY Act [Source][Source][Source][Source]

The long-standing regulatory stalemate in Washington is finally showing signs of life as Coinbase CEO Brian Armstrong officially throws his weight behind the latest version of the CLARITY Act. Ahead of a high-stakes Senate Banking Committee vote this Thursday, Armstrong praised the "healthy compromise" brokered by Senators Tillis and Alsobrooks regarding stablecoin yields.

This bipartisan push suggests that the era of "regulation by enforcement" might finally be ending in favor of actual, codified laws that provide the industry with a clear path forward.

This political shift is being driven by a growing mandate, with recent HarrisX data showing that 20% of the U.S. population now holds digital assets. These aren't just speculative traders either; 52% of these 54,000 surveyed holders view crypto as a long-term investment for their financial future.

For policymakers, the message is unavoidable: digital assets have moved from a fringe hobby to a mainstream financial priority for millions of registered voters. Washington is finally realizing that ignored voters are angry voters, and the CLARITY Act is their best shot at peace.

Charles Schwab Launches Spot Crypto [Source][Source][Source]

The institutional floodgates have officially opened as Charles Schwab, the $11.77 trillion asset giant, launched its "Schwab Crypto" platform this Tuesday. Select retail clients can now trade Bitcoin and Ether directly, a massive leap from the indirect exposure previously offered through ETFs.

With 39.1 million active accounts, Schwab is positioned to be a heavyweight competitor against crypto-native exchanges by bringing a "trusted" household name to the spot market. It’s a bold move that signals the brokerage's refusal to let fintech rivals like Robinhood eat their lunch.

The underlying infrastructure is equally robust, utilizing Paxos for trade execution while keeping custody under the firm's own Schwab Premier Bank umbrella. Investors will face a transparent 75-basis-point fee per trade, though those in New York and Louisiana remain sidelined due to local regulatory hurdles.

Given Schwab's 16% year-on-year revenue growth to $6.48 billion, this launch confirms that traditional finance is no longer content watching from the sidelines. They aren't just joining the party; they're trying to own the venue.

Immunefi Absorbs Code4rena [Source][Source][Source]

The Web3 security landscape is consolidating as Immunefi prepares to onboard the customers and researchers of its pioneer rival, Code4rena. Code4rena, which famously turned smart contract auditing into a competitive sport with its "warden" model, is officially winding down operations despite previous backing from Paradigm.

This merger effectively marks the end of an era for the competitive audit format that once defined DeFi’s defensive strategy. In this brutal market, even the most innovative security models are finding it impossible to survive as standalone entities.

The timing of this consolidation is critical, coming right as DeFi reaches a dangerous breaking point with 20 major exploits recorded in April alone. The sector's total value locked has been nearly halved to $83 billion, an exodus of capital that JPMorgan analysts attribute to these persistent security risks.

By merging their expertise, Immunefi and the remaining Code4rena team hope to build a unified front against the increasingly sophisticated attacks draining market liquidity. It’s a necessary move, as the "warden" era gives way to a more centralized, heavyweight security approach.

💡 Feature of the Day: 

Kevin Warsh Confirmed as FED Chair [Source][Source][Source][Source]

The Federal Reserve is entering a potentially pro-innovation era following the Senate's 54-45 confirmation of Kevin Warsh as the new Chair. Succeeding Jerome Powell this Friday, Warsh returns to the central bank where he previously served as a governor during the 2008 financial crisis.

While the vote was tight, Senator John Fetterman notably crossed party lines to support Warsh, signaling a rare moment of bipartisan agreement on a major leadership shift. This isn't just a change in management; it’s a fundamental shift in how the Fed views the modern financial stack.

For the crypto industry, Warsh’s confirmation is a massive win, given his previous descriptions of Bitcoin as a "transformative" asset for policymakers. His leadership arrives exactly as the Senate Banking Committee advances the CLARITY Act, placing him at the center of the debate over stablecoins and programmable money.

As he takes the reins, the market will be watching closely to see how his appreciation for digital assets influences the Fed's stance on CBDCs. If Warsh stays true to his past comments, the days of the Fed being a crypto-skeptic fortress are officially over.

😂 Crypto Meme of the Day: 

Meme of the day provided by @breet

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com