Donald Trump · CLARITY Act · US Senate · Federal Reserve (FED) · CoinDesk
XRP sinks 10% as the Clarity Act falters and bitcoin slides toward $76,000
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XRP dropped nearly 10% to $1.30 as of Asian morning hours Wednesday, the worst performance among the majors, after the Senate failed to advance the Clarity Act, data.
Key facts
- Bullish and Riot Platforms each lost 5%, eToro 4%, and Robinhood, MARA Holdings, CleanSpark, IREN and Core Scientific fell between 3% and 4%
- Ether was next hardest hit at nearly 5% lower to about $2,410, with solana down 5% to above $97 and dogecoin down nearly 5%
- Zcash and hyperliquid's HYPE each fell close to 4%, and bitcoin slipped nearly 3% to above $76,000
- XRP dropped nearly 10% to $1.30 as of Asian morning hours Wednesday, the worst performance among the majors, after the Senate failed to advance the Clarity Act, data
Summary
The bill was derailed by disputes over ethics safeguards, regulatory staffing and provisions addressing money laundering and terrorist financing. Crypto stocks suffered steeper losses than major tokens as attention shifted to the Securities and Exchange Commission’s regulatory efforts and the Federal Reserve’s interest-rate decision. Ether was next hardest hit at nearly 5% lower to about $2,410, with solana down 5% to above $97 and dogecoin down nearly 5%. The bill went down on a 49-50 cloture vote, the procedural step that needs 60 senators to move legislation to debate, with multiple Republicans voting no.