- The Senate failed to advance the CLARITY Act to the floor, with Republicans unable to break a filibuster after introducing last-minute revisions and Democrats holding firm on ethics provisions, DeFi policy and tribal gaming protections.
- The cloture vote required 60 senators and would only have begun consideration of the legislation, not passed it outright.
- Bitcoin traded near $76,431, down 2.19% over 24 hours; ether fell 1.8% to about $2,449 and total crypto market capitalization slipped 1.2% to $2.61 trillion.
- Crypto-linked equities fell harder than the tokens: Coinbase -6.11% to $179.96, Robinhood -3.83% to $109.65, Circle -8.1% to $89.55 and Strategy -4.4% to $130.98.
- Roughly $384 million in crypto positions were liquidated over 24 hours, split between about $195 million in longs and $189 million in shorts.
- The Fed decision lands Wednesday, with a Reuters poll showing 86 of 101 economists expecting a 25 basis point hike to 3.75%-4% and futures pricing close to a 90% probability.
Quotes
“have not budged an inch”
“They need to actually start negotiating instead of resubmitting the same demands and calling it progress.”