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The Senate voted 49 in favor and 50 against, falling short of the votes needed. That means the CLARITY Act is basically dead for 2026. 😬
Banks are worried that interest-paying stablecoins could pull deposits away from traditional banks.
Democrats want stricter conflict-of-interest rules related to Trump’s crypto holdings.
Developers are pushing for legal protection so writing code alone doesn’t expose them to criminal liability.
Here’s what we got for you today:
👀 Closed-source TradingView indicator
⭐ CLARITY Act dies in Senate
⭐ Trump beats Congress at trading
🔥 Burning hot takes for the road
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🏛️ CLARITY ACT DIES IN SENATE. BTC DIPS TO $75K AFTER THE NEWS
I've got bad news. The long-awaited CLARITY Act just hit a massive brick wall in the U.S. Senate, sending BTC sliding straight down to the $75,000 mark. First, let's look at the numbers and why this hurts so bad:
The Senate procedural vote (the vote just to start debating the bill) failed in a 50-50 split. It needed 60 votes to move forward.
This wasn't even a vote to pass the bill into law, it was literally just a vote to allow debate on the Senate floor!
With only 36 working days left before Congress wraps up ahead of the November midterm elections, this failure kills any chance of crypto legislation passing in 2026.
1/ Main Battle: Trump Ethics & Conflict of Interest
So why did it fail after a full year of negotiations? Republicans put out a massive 630-page revised bill. Trump even agreed to 80% of the new ethics rules.
The draft gave State Attorneys General power to sue over ethics violations and required officials with big crypto holdings to move assets into a "blind trust" or sell them off.
Democrats demanded even stricter terms: extending ethics bans to Trump’s children and forcing full asset sales. Republican Senator Cynthia Lummis rejected these. Key Democratic Senators who were expected to support the bill all voted NO.
Senator Mark Warner admitted both sides were close on national security and law enforcement, but said he couldn't vote yes while Trump continues to profit from crypto projects like World Liberty Financial and the $TRUMP ( ▼ 5.33% ) memecoin.
2/ Who Else Fought the Bill?
Three major groups pushed back against the bill:
18 State Attorneys General feared the federal bill would strip away their state power to prosecute local crypto fraud and scams.
Traditional US banks lobbied heavily to restrict stablecoin rules (especially yield/rewards) to prevent customers from moving bank deposits into crypto.
Demanded stronger, clearer legal protections for developers building non-custodial tools so they don't get targeted by regulators.
3/ The Drama After the Vote
Neither side is letting this go without throwing shots:
Democrat Take (Sen. Alsobrooks): Insists this isn't the end because 70M+ Americans own crypto without clear rules, but blasted Republican leadership for rushing a vote before solving Trump's conflicts of interest.
Republican Take (Sen. Lummis): Argued Democrats were never serious, kept moving the goalposts after 100+ compromises, and picked midterm politics over protecting investors and keeping U.S. crypto leadership.
The Digital Chamber called it a temporary setback.
SEC Chairman Paul Atkins said while he wanted the bill passed.
SEC and CFTC are fully ready to write their own crypto rules without waiting on Congress.
4/ Price Impact: BTC Dips to $75K
$BTC ( ▼ 1.32% ) was sitting around $77,200 right before the vote. As NO votes piled up, BTC dumped all the way to $75,000 before slightly bouncing back to $75,600.
The dump wasn't a total bloodbath because traders had already prepared for trouble.
On Polymarket, the odds of the CLARITY Act passing in 2026 plunged from 34% down to 17%, and then crashed to just 5% right after the vote.
🧠 My Analysis: Rules Are Coming, Just Not From Congress
Don't panic. The failure of the CLARITY Act doesn't mean crypto is doomed. SEC Chairman Paul Atkins already hinted that regulators will step up and set the rules themselves.
It might take longer and feel messier through agency rulemaking, but the market will adjust. Don't panic-sell into political noise!
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📈 TRUMP OUT-TRADES ALL OF CONGRESS WHILE PUSHING FOR A STOCK TRADING BAN?
While politicians on Capitol Hill argue over whether lawmakers should be allowed to trade stocks, new data shows Donald Trump has been trading at a level that puts the entire U.S. Congress to shame.
1/ His Crazy Numbers: 28,700 Trades in 17 Months!?
A review of disclosures through June by Bloomberg reveals just how active Trump’s portfolio has been compared to the rest of Washington:
Trump’s total = nearly 28,700 stock trades over a 17-month period.
Congress’s total: All members of Congress combined made 22,200 trades in the same timeframe.
The White House insists Trump and his family aren't personally making direct trading decisions. They state his investments are managed by outside firms using index-tracking models.
2/ Rules for Them, But Not for Me?
With midterm campaigns heating up, House Republicans made stock trading a key topic and passed a bill in July banning members of Congress, their spouses, and dependent children from trading individual stocks.
Trump strongly backed the bill, even urging Congress in his State of the Union address to pass it "without delay." But the bill completely exempts the President.
Rep. Anna Paulina Luna championed the ban at a Republican conference in Dallas, saying: "The American people deserve to know that the people they elect to public office are serving the public interest, not their own pocketbooks."
When Senator Josh Hawley suggested extending trading restrictions to the President as well, Trump called Hawley a "pawn" and fought back against the expansion.
Trump regularly criticized former House Speaker Nancy Pelosi for her stock trades, yet public disclosures show similar patterns on his end. Trump even boasted about profits days after buying shares in certain companies, like purchasing DoorDash stock shortly before hosting a food delivery event at the White House.
When asked if these trades created a conflict of interest, Trump defended his position simply: "Because the stock market is going up. Everyone is making money."
3/ Public Anger vs. $200 Fines
Despite the political fighting in Washington, the American public is clear on where they stand:
An Economist/YouGov poll from May found that 75% of Americans want to ban elected officials from trading stocks altogether.
Current enforcement under the 2012 STOP Trading on Congressional Knowledge (STOCK) Act starts at a fine of just $200.
On top of that, legal experts note that the Department of Justice would face massive constitutional challenges trying to enforce any trading ban on a sitting President.
🔥 BURNING HOT TAKES FOR THE ROAD
White House advisor Phelan warned that raising interest rates today would be a massive mistake by the Fed. Why? Watch more
Binance adjusted its Price Index calculation for commodities perpetual contracts to align with TradFi trading hours. Read more
The DOJ charged 2 former Robinhood engineers for insider trading on Hyperliquid perpetuals, netting $50,000 each. Read more
The US government is seeking to seize $61 million in crypto tied to Iranian oil sales with alleged links to Binance. Read more
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