Crypto Market Plunges as CLARITY Act Fails in Senate Vote

The crypto market suffered significant losses in liquidations after the CLARITY Act collapsed. ARK Invest, led by Cathie Wood, offloaded $65 million across five crypto ecosystem assets on September 14.

This was a large outflow from the ARK investment firm, and it came ahead of a key vote on the CLARITY Act. The bill aimed to provide clarity in digital asset regulations but failed to advance in a Senate procedural vote.

Ripple CEO Brad Garlinghouse criticized Senate Democrats for their handling of the bill's vote, stating that they were 'baffled' by the decision.