Warren said the Clarity Act fails to stop Trump from profiting and would aid cartels. The bill heads to a floor vote. Goldman Sachs CEO David Solomon backed it.
Alpha Score of 64 reflects moderate overall profile with moderate momentum, moderate value, moderate quality, moderate sentiment.
Senator Elizabeth Warren said the Clarity Act's latest draft would make it easier for criminals and let President Donald Trump profit from crypto. She made the claim in a video posted to X on Wednesday.
Warren said the bill 'does not stop Donald Trump from cashing in on his presidency.' She called it a 'giveaway' that should be 'dead on arrival.' The senator has long opposed crypto-friendly legislation and recently called for a probe into Trump family crypto ventures.
The Clarity Act aims to set rules for digital assets. Lawmakers are reviewing a new version ahead of a possible floor vote. The draft includes a provision that bans federal officials and their families from issuing or promoting crypto. Some X users pushed back on Warren's characterization, pointing to that ethics language. The White House has denied any conflict of interest.
The bill passed the House but faces Senate scrutiny. Banking executives have raised concerns that stablecoin rewards could erode their deposit base. Banking representatives said they could lose the ability to lend to U.S. businesses if stablecoin issuers are allowed to pay yields. Goldman Sachs CEO David Solomon expressed support for the bill on Thursday, becoming one of the first big bankers to back it. Goldman CEO backs CLARITY Act as banks fight stablecoin rewards
Senate Republicans began circulating the new text this week. No date has been set for a floor vote.
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