U.S. Senator Warns: This Year Is the Final Window to Pass the CLARITY Act
April 12: U.S. Senator Cynthia Lummis — a leading cryptocurrency advocate — issued an urgent call for Congress to pass the **CLARITY Act** this year, warning the legislative process could be delayed until after 2030 without action.
“This is our last chance to pass this bill until at least 2030, and we cannot afford to jeopardize the future of American finance,” Lummis stated. Industry concerns mount that the November midterm elections will shift Congress’ legislative focus, rapidly narrowing the window for the highly anticipated bill to pass in 2024.
Former White House AI and cryptocurrency czar David Sacks voiced support, urging the Senate Banking Committee and full Senate to expedite market structure legislation. He predicted the bill would ultimately be signed by Trump. The CLARITY Act aims to clarify regulatory boundaries for crypto assets across federal agencies; the industry widely believes it will unlock U.S. crypto innovation and boost retail investment demand. a16z Crypt
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Polymarket Link Briefly Surfaces on Google News, Then Gets Removed; Google Attributes it to Error Push
Reports emerged on April 12 that prediction market Polymarket’s link briefly appeared in Google News search results alongside mainstream outlets like Reuters and The Guardian—only to be quickly removed.
A Google spokesperson later clarified the appearance was an “error,” adding the platform will no longer show up in the news box. Previously, when users searched for event-focused prediction queries (e.g., “Will the ship transit the Strait of Hormuz?”), Polymarket’s entry would display directly below traditional news outlets.
Both Polymarket and rival Kalshi have recently ramped up media-platform integration efforts. Google partnered with both last year to add their data to Google Finance. Additionally, X (formerly Twitter) announced in June 2023 that Polymarket is its official prediction market partner. Crypto wallets MetaMask and Worldcoin’s World App have also integrated Polymarket’s app.
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The "Rug Pull" Memecoin RAVE has surged over 10x in the past eight days, with one address seeing over $50 million in unrealized gains
April 12th, per HTX market data, RAVE—one of the "pump-and-dump" meme coins—has jumped 56% in the past 24 hours, last trading at $2.78. It hit a high of $3.17 at one point and has surged over 10x since April 8, when it was priced at $0.26.
On-chain analyst Ai Auntie (@ai_9684xtpa) noted that a Bitget-linked multisig address (0x0A1...790d7) has withdrawn 31.93 million RAVE tokens in the past two days. The address’s asset value has soared from $37.54 million to $89.10 million—up roughly $50 million in two days. Back on April 8, those tokens were worth just $8.52 million.
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Source: Insider: Vance's departure is nothing but a show of strength, US-Iran talks will continue
April 12
U.S.-Iran negotiations will continue, with sources noting U.S. official Sullivan’s departure was merely a show of strength.
Iranian Parliament Speaker stated the Iranian delegation put forward a forward-looking proposal, but the U.S. side failed to earn the Iranian delegation’s trust in this round. The U.S. has understood Iran’s logic and principles—now it is up to the U.S. to decide whether it can gain Iran’s trust.
Earlier today, U.S.-Iran talks concluded without an agreement. Post-negotiations, Sullivan left Pakistan; the Iranian delegation will depart on April 12. Details (timing, location, plans) for the next round of talks have not been announced.
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Robinhood Limited Predictive Market Contract Due to Insider Trading Concerns
On April 12, Robinhood is taking a cautious stance as its prediction market business expands rapidly.
UK CEO Jordan Sinclair noted that amid heightened concerns over "market manipulation and insider trading," Robinhood has explicitly excluded certain prediction market contracts—most notably "referendum markets." These contracts let traders wager on the exact wording of specific speeches or briefings, which Robinhood says carries manipulation risks and isn’t in clients’ best interests. Sinclair stressed that unlike some unregulated platforms or those offering non-compliant contracts, Robinhood only offers appropriate, regulated event contracts.
Recent incidents have amplified industry worries about insider trading in prediction markets. For instance, unusually precise large wagers were placed on the Polymarket platform ahead of U.S. military action against Iran, and an individual in Israel was sued for using classified information to wager on military developments on Polymarket. T
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View: Trump Desperate to Disengage Ahead of Midterms, US and Iran May Reach Accord on Key Demands
April 12 – CITIC Securities released an analysis of U.S.-Iran negotiations, outlining key demands from both sides and low odds of extreme conflict escalation.
### U.S. Core Demands
Trump’s top priority would be Iran abandoning uranium enrichment—this would be a critical win for the U.S. and a key political asset to bolster his domestic standing. The current conflict has hurt his midterm election prospects, pushing him to wrap up early. Since the Iranian Revolution, the U.S. has lost control over Iran’s nuclear program—a unresolved challenge for past presidents that’s undermined U.S. Middle East strategy. Compared to the political messaging impact of Iran abandoning enrichment, the indirect link between oil prices and inflation is a smaller election factor. Thus, the Trump administration may compromise on issues like oversight of the Strait of Hormuz.
### Iran’s Core Demands
The conflict has underscored that blocking the Strait of Hormuz and threatening Middle East infrastruct
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