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A “ghost chain” debate has erupted around the XRP Ledger after Bitquery research found just 793 accounts handled 93.2% of the network’s transactions in August, with 767 of those classified as machine accounts, including bots and spam. Separately, the XRP Ledger Foundation’s CTO suggested users could potentially transfer funds from an X Money account directly into XRP, then use the ledger’s primitives to generate yield, saying he saw nothing wrong with that setup if it became possible.

Bitwise is liquidating its Dogecoin ETF ($BWOW), less than a year after its launch. Trading will end October 14, with remaining shareholders cashed out the following week. The fund marks the 10th ETF liquidation this year, with assets down roughly 40% from launch to $9 billion. Bitwise cited efforts to optimize its product lineup for investor demand. The closure comes as Dogecoin (DOGE) trades at $0.08343, down 2.5% over 24 hours and 4.2% over the past week, reflecting the broader pullback in demand for smaller altcoin exposure through ETF wrappers.

Coinbase CEO Brian Armstrong says the crypto industry comes out ahead regardless of how the September 15 Senate vote on the CLARITY Act goes. Speaking on CNBC Thursday morning, Armstrong said passage would deliver formal legislation, while a failed vote would still push the SEC and CFTC to step in with their own rules. Armstrong said the bill is “ready to get a yes vote,” adding that the senators he’s spoken with are supportive. The one remaining important point, he said, is ethics rules governing government officials who hold digital assets.

Hunter Biden’s memecoin $LAPTOP is trading at $0.8832, down 99.6%, after what Biden described as a “sharp swing” in price caused by technical issues, which he said have since stabilized to healthy levels. The token remains down more than 99% since its launch. Biden also said his foundation’s official account has been suspended, but denied stepping away from the project, adding the team is working to restore access and is sharing updates via Medium in the meantime.

President Trump pledged a $5,000 dividend to every adult US citizen, contingent on Republicans winning control of both the House and Senate. He framed the payout as a reward tied to the country’s economic performance, comparing it to a company issuing a cash distribution to shareholders, and referenced last year’s $1,776 payment to military members as a similar precedent. “Only I can make this promise to you,” Trump said, tying the pledge directly to what he described as unprecedented economic strength and success under his administration.

With the CLARITY Act’s cloture vote just a week away on September 15, Senate Republicans are warning the crypto market structure bill “does not look good” heading into next week. The concerns center on an unresolved ethics response from the White House and continued pushback from Senate Democrats. Even if the bill clears the Senate but stalls before reaching the House, industry watchers say that alone would count as a major win, since Senate passage is historically the hardest hurdle. The House already passed a similar version last year, meaning it would only need to review Senate updates before sending the bill to President Trump.

Treasury Secretary Scott Bessent is set to announce a larger bond buyback operation, with Wall Street expecting a $5-6 billion move focused on long-term bonds. A bigger buyback could reduce the supply of net long-dated debt and help contain elevated yields, with the announcement timed ahead of upcoming 10 and 30-year Treasury auctions. Bitcoin is consolidating just below $79,000, with the daily RSI moving away from overbought territory. Despite the pause, weekly chart momentum remains bullish, with continued ETF inflows and treasury company buying. Bitcoin treasury firm Strive purchased another 1,375 BTC, while Tom Lee’s Bitmine added to its Ethereum holdings, now near 5% of total ETH supply at 20,086 ETH.