XRP sinks 10% as the Clarity Act fails and bitcoin slides toward $76,000
The Senate's 49-50 procedural vote left the crypto market structure bill 11 short of what it needed, and every major token fell.
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, according to CoinDesk data.
Ether was next hardest hit at nearly 5% lower to about $2,410, with solana down 5% to just above $97 and dogecoin down nearly 5%. Zcash and hyperliquid's HYPE each fell close to 4%, and bitcoin slipped nearly 3% to just above $76,000. BNB and tron were the mildest at about 1% each.
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.
Today, I voted no on the Clarity Act, legislation meant to regulate cryptocurrency in America.The ethics provisions in this bill are simply too thin. President Trump, his children, and his Cabinet are making billions of dollars in the crypto space, in part from bilking everyday…