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Not surprised $COIN is against the current version of CLARITY — even if this will result in a near term profit tailwind, it likely ends one of its key Coinbase One benefits / long-term strategic optionality. At this point in the game, I doubt COIN’s opposition will matter much to getting the legislation changed. Covered more here:

I wrote a brief writeup on the CLARITY Act resulting in CRCL/COIN declining 20/10% today; immediate/mid-term/long-term Implications including how it impacts the payments disruption case — and Tether’s audit.

ottavi.substack.com/p/w…

Mar 26
at
11:58 AM
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