Crypto
US Senate Crypto Bill Collapses in Major Blow to Industry
Crypto longs worth $570 million wiped out as Clarity Act fails and prices slide
The failure of the Clarity Act in Washington triggered a broad crypto market sell-off, wiping out $570 million in leveraged long positions and driving down major assets like XRP and Bitcoin.
- The Clarity Act failed to pass, triggering market liquidations.
- Over $570 million in crypto long positions were wiped out.
- XRP sank 10% and Bitcoin slid toward $76,000 following the legislative failure.
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