Senate Confirms Warsh as Fed Chair, CLARITY Act Heads to Vote, Polymarket Volume Drops 8.9%
Tech Senate Confirms Warsh as Fed Chair, CLARITY Act Heads to Vote, Polymarket Volume Drops 8.9% Coinbase chief executive Brian Armstrong has thrown his weight behind the latest draft of the Digital Asset Market Clarity Act, describing the legislation as being in its strongest and most bipartisan form to date. Speaking ahead of Thursday‘s Senate Banking Committee markup, Armstrong said the banking sector and the crypto industry had reached a workable compromise on stablecoin yield, a sticking point that derailed earlier negotiations in January 2025. The revised text also tightens provisions for DeFi, tokenized equities, and the Commodity Futures Trading Commission’s authority. Industry surveys cited during the lobbying push indicate roughly one in five Americans now hold digital assets, with 52% of polled voters supporting passage. The US Senate confirmed Kevin Warsh as the next chair of the Federal Reserve on Wednesday in a 54-45 cloture vote that fell largely along party lines, with Democratic Senator John Fetterman the only crossover. Warsh was approved as a Fed governor the previous day in a 51-45 tally, securing a 14-year term on the board and a four-year term leading the central bank. He succeeds Jerome Powell, whose chairmanship ends Friday after months of public pressure