Morning Minute: Clarity Act Odds Slump After Democrat Pushback

GM!

Today’s top news:

• Crypto majors retrace as Clarity Act odds fall; BTC at $77k
• Democrats push back on Clarity ethics provisions, odds fall to 18%
• Strategy buys $139M of STRC and no Bitcoin; Strive buys $36M
• Robinhood says in-kind redemption and voting coming for tokenized stocks
• Robinhood onchain leaders jump after Vlad comments; Standard sees big debut

🏛️ Democrats Balk on Ethics as the Clarity Act Votes

Virginia Senator Mark Warner said Monday afternoon that the new ethics language isn’t close, and Polymarket’s odds on the Clarity Act becoming law this year fell from an overnight high near 35% to 18%. The Senate votes on whether to take up the bill today at 2:15 p.m. ET.

Senator Warner acknowledged movement on the bill, but then said the same three issues have been outstanding for six or eight weeks and asked why they couldn’t have been dealt with earlier. Senator Adam Schiff went further, telling Politico the provisions “don’t go far enough” and would likely not apply in current form to the Trump family, covering federal employees other than the president.

Then Senate Democrats scheduled an evening meeting to coordinate a counterproposal to the text Republicans released Sunday night, which the GOP had called its last, best, and final offer.