Hey!
Miranda here, infecting your inbox with the crypto drama I’ve gathered this week from the craziest reality show on TV Washington DC.
Hope you enjoy and/or learn something,
MMx
Speaking of onchain money movement, this Malware issue is brought to you by Across. Fast, cheap, secure (and the bridge we actually use..!)
49 votes and a prayer.
Rumor has it the CLARITY Act is about to hit the floor, and since we last checked in, the vibe seems to have shifted from we got this to a we-need-a-miracle-before-August-recess type beat.
What’s the CLARITY Act, you ask? Great Q! For the last ~10 years, American crypto companies found out whether or not their tokens were considered a security by [checks notes…] getting sued by the SEC. In other words,
CLARITY aims to swap that lame process out for purpose-written rules and regs. Which feels right for a technology that is actively rewiring our financial system anyway, tbh
(53-2-2) + x = 60 votes needed. Without McConnell or Graham, Republicans have 51 voting members. 2 of them are probably voting no. Which’d mean at least 11 Democrats have to be on board for it to stay in play. This feels currently out of reach, since the only 2 Dems that were on side are now back on the fence.
Lummis says the revisions are almost ready. Nay-sayers include
Warren and other dems demanding ethics rules are added in, to prevent another TRUMP coin sitch (by barring lawmakers and their immediate family members from holding/profiting off of crypto). Maybe?
Generally now pro-CLARITY, law enforcement groups still want tighter defi lingo
Banks don’t want exchanges like Coinbase to get to offer users yield on their stablecoins as “rewards” anymore (because they won’t get to)
Why is time of the essence? Like many other hot topics, if Clarity isn’t passed by the Senate before summer break, crypto regulation probably gets delayed for a few years (!!) until election cycles pass and majorities resettle. No matter which “side of the aisle” you tend to hang out on, that is probably nottagood for us here in the US of A
Trump has called once again for its passing. This time, in honor of the late Senator Lindsey Graham.
I’m Jewish. My mother was born and raised in Brooklyn. I happen to know first hand that guilt trips can be an INCREDIBLY EFFECTIVE negotiation tactic. We shall see! I’ll be watching Eleanor Terrett’s real-time reporting closely.
Quick Hits.
X rolled out an algo “tweak” that brought the *people you intentionally followed* back to your timeline. Can it last?
Sun Valley attendees get the NYT Styles treatment!
Phia is in some hot water. Possibly an all smoke no fire sitch? Time will tell!
NYC subway cars get DOOH. Please improve your product demos accordingly, ty.
Tech-enabled Mamdani? Noice. Can we plz have Waymo in nyc next?
Fwd this to someone you know is working in an office today. As a little treat. <3.
