Here’s what happened in crypto today

Today in crypto, Ethereum co-founder Vitalik Buterin is pushing for an update simplifying the blockchain’s node software, while a Galaxy Digital exec said the US CLARITY Act may have little chance of passing this year if it doesn’t move forward within the next seven weeks, Elsewhere, USDC’s market cap is approaching a record $80 billion amid turmoil in Dubai’s real estate market.

Vitalik Buterin promotes an update simplifying Ethereum node software

Ethereum co-founder Vitalik Buterin posted a proposal, or a pull request, on Saturday that would merge the backend programs used by nodes to interact with Ethereum’s Beacon Chain, which handles consensus and staking, and the protocol’s execution layer into one unified code structure to simplify node setup.

Ethereum node runners, also called validators, currently have to run two separate programs, which each require setup and synchronization to coordinate and communicate the data produced by Ethereum’s consensus and execution layers.

This raises the technical complexity of running a node or providing validation services for the Ethereum network, preventing ordinary users from running their own infrastructure and forcing reliance on third-party service providers.

The Ethereum network and other smart contract blockchains have faced criticism for the technical complexity and hardware requirements to run a node, which has also raised centralization concerns about those networks.

Source: Vitalik Buterin on X

CLARITY Act 2026 odds 'extremely low' if not passed before April: Exec

The US CLARITY Act, which aims to bring greater regulatory clarity to the crypto industry, may have little chance of passing this year if it doesn’t move forward within the next seven weeks, according to a crypto executive.

“If CLARITY doesn't pass committee by the end of April, odds of passage in 2026 become extremely low,” Galaxy Digital head of firmwide research Alex Thorn said in an X post on Saturday.

“This needs to hit the Senate floor by early May... floor time is running out, and odds diminish every day that passes,” Thorn said. It comes after US Senate Majority Leader John Thune said he doesn’t expect the chamber to act on the digital asset market structure legislation before April, as it will prioritize the SAVE America Act, which would require voters to provide proof of US citizenship in person to register.

The preface of the CLARITY crypto market structure bill. Source: US Congress

USDC market cap nears record $80B amid ‘capital flight’ in UAE: Analyst

The market capitalization of the USDC stablecoin is approaching a record high near $80 billion as demand surges in the Middle East, with one analyst linking the spike to capital flight from the United Arab Emirates.

According to data from CoinMarketCap, USDC (USDC)’s circulating supply has risen to roughly $79.2 billion, marking a new all-time high for the dollar-pegged stablecoin. The stablecoin’s market cap previously hit a high of below $79 billion in December last year.

The increase comes after supply expanded by billions of dollars in recent weeks. The stablecoin’s market cap stood at just over $70 billion in early February and at $75 billion earlier this month.

USDC market cap. Source: CoinMarketCap

Self-proclaimed Dubai-based analyst Rami Al-Hashimi claimed the surge reflects growing demand from investors seeking to move funds out of traditional markets. In a Friday post on X, Al-Hashimi said over-the-counter (OTC) desks in Dubai have struggled to meet demand for the stablecoin.