Bitcoin and Crypto Stocks Decline After Senate Blocks CLARITY Act

Bitcoin and crypto-related stocks fell after the U.S. Senate blocked the CLARITY Act in a procedural vote on Tuesday. The bill, which aimed to establish a regulatory framework for digital assets, failed to advance with a 49-50 vote. Following the news, Bitcoin dropped to as low as $75,038, while shares of Coinbase and MicroStrategy declined by over 10% and 5%, respectively. Major bitcoin miners including MARA, CleanSpark, and Core Scientific also saw their stock prices slip by at least 5%.