TLDR
- Coinbase stock closed up 9.6% and Strategy rose 12.7% as crypto industry leaders met with President Trump at the White House
- Bitcoin climbed 6.4% to $68,681 on Wednesday
- Circle gained nearly 10% and Bullish rose about 8% on the same day
- Senate Banking Committee Chairman Tim Scott said the Digital Asset Market Clarity Act has a “really good shot” of passing in September
- A procedural Senate vote on the crypto market structure bill is scheduled for September 15
Shares of major crypto-linked companies jumped sharply on Wednesday as cryptocurrency industry executives met with President Donald Trump at the White House.
🇺🇸 White House Crypto Summit recap:
• President Trump says US considers buying "sizable" amounts of Bitcoin & other crypto.
• Trump calls on Congress to pass Crypto Clarity Act.
• Trump says US is ensuring it remains the "undisputed leader" in $BTC & crypto.
•…
— Watcher.Guru (@WatcherGuru) August 19, 2026
Strategy, one of the world’s largest corporate holders of Bitcoin, closed up 12.7% at $104.25. That was its highest close since June 22 and its biggest single-day gain since February 6, according to Dow Jones Market Data.
Coinbase Global closed up 9.6% at $160.20, its highest close since July 30. Shares hit an intraday high of $165.74, up 13.3% at the peak. It ranked as the sixth best performer in the S&P 500 on the day.
Circle gained nearly 10% and Bullish rose about 8%. Bitcoin itself was up 6.4%, trading at $68,681 on Wednesday afternoon.
Legislative Optimism Fuels the Rally
Analysts pointed to two drivers behind the moves. One was a rotation out of AI stocks, with investors taking profits after a strong run. The other was fresh optimism around the Digital Asset Market Clarity Act.
Clear Street analyst Owen Lau said the gains were “driven by the reversal of the AI trade, and optimism from Senators Tim Scott and Cynthia Lummis, as well as from White House representative Patrick Witt.”
Senate Banking Committee Chairman Tim Scott, speaking at the SALT conference in Jackson Hole, Wyoming, said the bill has a “really good shot” of moving forward in September.
“There’s no question about the fact that this will become law,” Scott said.
The Senate has scheduled a procedural vote on the bill for September 15. That date sets a firm deadline for lawmakers to resolve remaining disagreements.
Key Sticking Points Remain
Patrick Witt, executive director of the White House’s Council of Advisors for Digital Assets, said talks are narrowing. “We’re down to kind of more of an A-B type of environment,” he said. “That’s when you’re at the point where a grand bargain can be had.”
Outstanding issues include crypto rewards, decentralized finance rules, and ethics provisions. Democrats have said they will withhold support unless a strong ethics provision is included. The White House has not publicly responded to a proposal on that issue from Senators Ruben Gallego and Thom Tillis.
The Clarity Act matters for companies like Coinbase and Bullish because it would set clearer federal rules for digital asset trading platforms. Those rules would also be harder for a future administration to reverse.
Strategy shares are up 11.7% this month but remain down 31.4% for the year. Coinbase is up 9.7% this month but down 29% year to date.
The September 15 vote will be a key test of whether the bill has enough Senate support to advance.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
