Bitcoin, Ethereum And More Tumble As CLARITY Act Fails In Senate
Topline Major cryptocurrency assets slid Tuesday as the Senate failed to pass the Digital Asset Market Clarity Act, which seeks to create a federal regulatory framework for digital assets and faces opposition from some Democrats who say the legislations provisions are too weak. The CLARITY Act vote was held Tuesday afternoon. Photo by Justin TALLIS / AFP via Getty Images Key Facts The CLARITY Act, which needed 60 votes to pass the Senate, failed after a 49-50 vote was held. Bitcoin dropped 4.1% on Tuesday afternoon to around $75,000, falling to its lowest point in its last five days of trading. Ethereum fell over 5% to $2,397, also recording its lowest point in the same period. XRP tumbled 10.3% while meme coin DOGE dropped 5.6% and Solana fell over 4%. Some digital assets were spared from significant losses Tuesday afternoon, with Tether, Binance Coin and USD coin falling just a fraction of a percent. Big Number 7%. Those are the Polymarket odds the CLARITY Act will become a law before the end of the year, dropping from the 18% odds it held Monday. What to watch for The CLARITY Act will have to be reintroduced to Congress at a later date after failing Tuesday, meaning it is seriously unlikely it will be presented









