What If the CLARITY Act Fails? Markets, Midterms, & Regulatory Gridlock

The Senate has only a few days left before it breaks for August recess, and the odds of the CLARITY Act passing have slipped to 26% on Polymarket. If the bill fails, the whole market won’t fall together. Bitcoin and Ethereum have enough regulatory footing under existing agency definitions to hold their ground. The public crypto stocks, the miners and exchanges and custodians, are the ones that get…