CFTC Chair Michael Selig told crypto executives at the inaugural meeting of the agency’s Innovation Advisory Committee that the CFTC will utilize its existing authorities to establish a framework for crypto asset markets if the Clarity Act remains stalled in the Senate, which is still short of roughly six Democratic votes needed to clear the 60-vote threshold. Bitcoin ETFs saw $606 million in net inflows on Thursday, their biggest day since May 1, while ETH ETFs attracted $219 million. Over $1.2 billion in crypto shorts were liquidated in the past 24 hours, bringing the two-day total to nearly $5 billion, with BTC trading around $77,400.
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