US Senate votes down Clarity Act, $571 million crypto liquidated
Business
The US Senate just voted down the Clarity Act, and it's already shaking up the markets.
After the close 49-50 vote on September 15, about $571 million in crypto positions were liquidated, with Bitcoin and Ether hit hardest.
Bitcoin, Ether longs around $190 million each
Long bets on Bitcoin and Ether saw the biggest losses, each dropping around $190 million, marking the largest number of long liquidations since August 22. Other coins like XRP and Solana also took a hit.
With the bill's fate still undecided after the Senate procedural vote, everyone's now watching what US regulators like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) do next, since their decisions could really shape where crypto goes from here.