Two events inside 24 hours reset the entire crypto market this week, and neither of them went the way the industry wanted. The Senate killed the biggest piece of crypto legislation in years on Tuesday, and the Federal Reserve raised interest rates on Wednesday for the first time since 2023. $BTC is still standing at around $76,452, which tells you more about how much of this was already priced in than about how bullish anyone feels.
Here is what actually happened and where every major coin sits right now.
Why Did the CLARITY Act Vote Break Crypto Market Sentiment?
The Senate voted 49 to 50 on the motion to invoke cloture on the CLARITY Act on September 15, falling short of the 60 votes needed and short of even a simple majority. The bill would have built a federal regulatory framework for digital assets, splitting oversight between the SEC and the CFTC.
The failure was not about market structure at all. Democrats objected mainly to the bill's ethics language around presidential crypto holdings, and four Republicans, Susan Collins, Josh Hawley, Jerry Moran and Thom Tillis, also voted against the motion. Republican leaders had released a Read Entire Article
English (US)