Crypto’s biggest bill just failed by 11 votes.
Democrats blocked crypto’s biggest bill to stop Trump. Now nothing does.
The Senate blocked the Clarity Act 49 to 50 on a vote that needed 60. Every Democrat voted no, including Kirsten Gillibrand, who had helped write it, and three Republicans crossed over. Thom Tillis voted no to preserve a motion to reconsider.
Scott Melker’s read is that ethics was always the blocker and everything else was misdirection, and that Democrats have now left nobody in politics barred from profiting off crypto.
He also covers the banks’ own goal on stablecoin yield, Circle’s Arc chain going live, and two former Robinhood engineers charged over pre-listing trades.
Timestamps
0:00 The bill collapsed
1:12 What the cloture vote actually was
2:03 49 to 50, and eleven votes short
3:00 The four Republicans who voted no
4:09 Why ethics was always the blocker
4:59 The vote that freed what it meant to stop
7:39 The banks’ own goal on stablecoin yield
8:28 What happens now at the CFTC and SEC
9:19 Warsh against Trump on the rate decision
12:35 Circle’s Arc chain goes live
13:55 Robinhood engineers charged over pre-listing trades
Featuring Kenny-free lineup: Scott Melker, Host, The Daily Wolf, Yahoo Finance.
#Bitcoin #Crypto #ClarityAct #Senate #Stablecoins #YahooFinance #ScottMelker #DailyWolf
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