US Senate blocks CLARITY Act; Elizabeth Warren alleges $1.4 billion profit for Trump family from crypto

The US Senate failed to advance the CLARITY Act after a 49-50 procedural vote, falling short of the 60 votes required to begin debate. Senator Elizabeth Warren led the opposition, claiming that Donald Trump and his family profited $1.4 billion from crypto ventures in 2025 alone, surpassing the annual revenue of major public crypto firms. Warren argued that the bill would exacerbate corruption, create significant loopholes in securities laws, and allow banks to use customer deposits for crypto-related activities, including lending and derivatives trading. She also noted that meme coin investors have suffered losses totaling nearly $4 billion.