Clarity Act Odds Slip to 39% After Trump Discloses $1.4B Crypto Income

Senator Elizabeth Warren seized on the numbers. "The crypto legislation heading to the Senate floor must stop the President and his family from continuing to profit off crypto," she posted on X. An earlier Senate Banking Committee amendment that would have restricted the president, vice president, and members of Congress from participating in crypto businesses failed.

White House crypto adviser Patrick Witt has been negotiating with senators on ethics language. Progress has been limited. The Senate's adjournment before the July recess added further uncertainty. Separately, Trump refused to sign a housing bill containing a CBDC ban, saying he won't sign anything until Congress passes the SAVE America voting bill. He met with Republican senators after that refusal.

Traditional banks have also opposed the Clarity Act, arguing it lacks sufficient protections against conflicts of interest for public officials. The combination of a tight legislative calendar, Democratic demands for ethics safeguards, and the president's own financial exposure to the industry has created a logjam that prediction markets now rate as likely to persist through year-end.

The Senate returns July 14. Before the recess, floor action on the Clarity Act had not been scheduled. The timing of the disclosure gives Democrats a new angle of attack when debate resumes.