Crypto Companies Brace as Senate Marks Up CLARITY Act with 40 Amendments, $630M ETF Outflows
Senate Banking Committee markup of the CLARITY Act includes 40 amendments and a projected 13-11 vote split, introducing regulatory uncertainty for crypto firms such as STRC. Meanwhile, Bitcoin spot ETF outflows reached $630 million in one day, the largest since January, signaling market volatility that could impact STRC’s trading volumes.
1. Senate Banking Committee Marks Up CLARITY Act
The Senate Banking Committee has begun a contentious markup of the CLARITY Act, introducing 40 amendments and anticipating a 13-11 party-line vote. This proceeding, which will advance to reconciliation with the Agriculture Committee for debate over ethics provisions, heightens regulatory uncertainty for crypto-focused firms like STRC.
2. Record $630 Million Bitcoin ETF Outflows
Bitcoin spot ETFs experienced $630 million in outflows in a single trading day, the largest since January, as institutional players unwound carry trades by selling ETFs and shorting futures. This spike in redemptions underscores market volatility that could affect STRC’s transaction volumes and revenue streams tied to digital asset trading.