Bitwise Chief Investment Officer Matt Hougan said the failure of the CLARITY Act in the Senate should not derail the current crypto bull market. Bitcoin rose from $57,950 on July 1 to above $80,000 on September 4, even as the bill’s passage odds declined. The Senate rejected cloture on the Digital Asset Market Clarity Act in a 49 to 50 vote, falling six votes short of the required threshold. Hougan highlighted that major financial firms continue to invest in the sector, citing Morgan Stanley’s launch of Ethereum and Solana exchange traded products. Both the SEC and CFTC stated they will advance their own crypto rules under existing authority, with Bitcoin falling about 4% following the vote.
Source: Read the original article
