Bitcoin HITS $66K as Trump Clears the Way for the CLARITY Act | Jeff Park

**Scott Melker** (0:00)
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**Scott Melker** (0:31)
Bitcoin is trading over $66,000. Presumably on news that the White House has provided ethics language and is sending it to Republicans to hopefully get the Clarity Act passed in the coming weeks before the deadline is up. Obviously, we're out here on location today. We're going to talk about that and everything else with the amazing Jeff Park. Let's go.
Good morning, everybody. Welcome to the beautiful North Fork here in Long Island. We are at the Out East Summit here presented by The Tie and lucky enough to have Jeff with us today. Good morning, man. How are you?

**Jeff Park** (1:20)
Nice to be here, Scott. Long time in the making.

**Scott Melker** (1:22)
Yeah, I know. We woke up for a lot of wind and some potential rain here, but it's a beautiful, beautiful spot out here. So listen, let's start with the market, right? Obviously, as I mentioned in the beginning, fifty six thousand, you know, things have been kind of rising slowly, even in the face of some bad news, I would say, you know, people were very concerned about strategy. I think that's kind of out of the market. I mean, just broadly, what do you think's moving the market right now? And what do you make of the price action?

**Jeff Park** (1:47)
I think there's a lot of focus on the Clarity Act for sure. And the next two weeks is pretty much the gap in which the fulfillment of its dreams have to be realized or not. And as a result, there is a lot of bids towards not just Bitcoin and alt tokens for the construct of that potential tail outcome, but in crypto equities as well, as I've seen it. So some of the term structures across the volatility surfaces of equities that have some acts to the passage of clarity has upward kink over the next few weeks versus the rest of the year. So there's definitely focus on it. And I think Bitcoin, you know, if you ask me, will Bitcoin trade up or down based on the passage of clarity, that for me is a little bit harder to assess than, say, Ethereum or other tokens that have more direct acts into legislative efforts that touch their revenue model.
But I suspect Bitcoin would do well, none of the less.
And I think, I think in general, like beyond clarity, people are focused on midterms. And if you have the chance to really kind of bring more bipartisan support outside of just the Clarity Act for crypto to evolve much further, I think that would go much longer. So we actually, I think, need to see more movement from the Democrat side in the dialogues that we're seeing. Right now, if you look at the newsflows, most of the stories that are coming out or being leaked is strictly from the Republican side.

**Scott Melker** (3:04)
Yeah, I think that's what people are missing in the headlines. So like, obviously we only have Ellie, who's here, Eleanor Turan, I think she's here, but we only have her reporting on it, and it's kind of I've heard from multiple sources that. But it seems like the White House created their own ethics package, and is now sending it to select Republicans, which people are reading as the White House has agreed to ethics. But I think the White House has crafted an ethics proposal that they're comfortable with, which to me is still very doubtful. It says Donald Trump can't make money in crypto.

**Jeff Park** (3:34)
Yes, yes, yes. This has a tinge of some of the dynamics in which Trump has historically navigated coalition building with some exclusionary efforts towards Democrats. And until you see that break through some language come through the other side, I think my instinct is still that it's probably a low likely outcome. But we'll see. I mean, that's why I think the market is pretty interested over the next two weeks. And we could, as a result, therefore see like a meaningful squeeze up from unexpected outcomes. So names like Circle, Robinhood, tokenization names, Lexicuritize, all these things I think are kind of interesting in play.