Two departures

Coinbase Chief Legal Officer Paul Grewal and Grayscale CFO Edward McGee have both resigned, with each firm naming internal successors. Grewal led Coinbase's legal fight with the SEC through the Gensler era. The timing is notable: the departures come as US market-structure rules finally take shape.

Armstrong's read on CLARITY

Coinbase CEO Brian Armstrong said the remaining obstacle to the CLARITY Act is banks that do not want competition from crypto companies. It is an interested party describing rivals' motives, but this week's SoFi, Kraken and Revolut stories show the competitive logic behind it. Prediction markets price 2026 enactment at roughly 18%, and Solana Policy Institute's Miller Whitehouse-Levine has put pre-midterm passage at 10%.

Old coins waking up

Four dormant Bitcoin wallets holding coins from over a decade ago moved a combined $15.7 million between 29 August and 4 September. One batch went to Coinbase, suggesting a sale. Another early wallet saw $120 grow to roughly $3 million over the same window.

Solana lowers the cost of existing

Solana began a phased reduction in account deposit (rent) requirements. The full plan cuts minimum SOL reserves tenfold, which improves developer economics but reduces one structural reason to hold SOL locked in account state.

Around the world

Kyrgyzstan's crypto council approved a digital-asset framework. Shiba Inu saw over 500 million tokens burned in August, with Robinhood and Coinbase among contributors.

Why this matters

Executive exits at the two most important US crypto intermediaries, right before the vote that defines their regulatory future, are worth watching. The rules are almost written; the people who fought for them are moving on.