USDT Under Fire: Blumenthal Opens Senate Probe Into Cantor
Prediction markets put a Democratic Senate flip at 61% on Kalshi and 64% on Polymarket; a majority would put subpoena power in Blumenthal's committee.
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Prediction markets put a Democratic Senate flip at 61% on Kalshi and 64% on Polymarket; a majority would put subpoena power in Blumenthal's committee.
Mike Belshe says combining trading, brokerage and custody inside one firm could turn a company failure into a market-wide breakdown.
The bill's path to 60 votes now depends on resolving stablecoin-yield demands from Republicans already inside its 49-vote coalition.
If the 60-vote threshold falls, pending crypto market-structure bills, stablecoin frameworks, and agency funding fights all reach the floor under a simple majority.
The crypto super PAC is treating Ohio as a pivotal test of whether election spending can preserve a Senate majority favorable to digital-asset legislation.
The defeat leaves the US crypto industry without the proposed legislative framework, extending uncertainty for firms, investors and regulators.
Seven Democrats want to keep negotiations alive, but the bill still needs a broader coalition and a narrow calendar before Congress can deliver a 2026 law.
Lame-duck session is the long-shot next window. The cost is more quarters of US market-structure uncertainty and the patchwork of agency guidance it leaves in place.
The legislative setback does not end the market-structure push, and the coalition of seven Democratic senators signals the bill still has the votes to move once it returns to the floor.
The setback leaves XRP's treatment intact but shifts the near-term rulebook toward agency guidance, which regulators can revise.
The cloture tally was procedural, but the market read was immediate: Bitcoin tagged $74,967, altcoin market cap gave back 3.6%, and $665M+ in 24h liquidations piled into a vote that denied the…
The 49-50 cloture failure leaves the SEC's Reg Crypto framework as the industry's only near-term route to regulatory certainty, with the Fed's rate decision now landing on a market already dumping…
The procedural loss leaves just 12 session days before midterms, pushing the odds of a US crypto market-structure law down to single digits and handing the job back to the SEC and CFTC.
The defeat leaves US crypto rules in limbo, but a motion to reconsider and possible second cloture vote keep the bill alive while ethics and enforcement disputes remain.
The procedural defeat hands the SEC's enforcement-first regime another year in charge, prolonging the jurisdictional limbo that has driven token issuers offshore and kept institutional adoption…
The setback keeps U.S. crypto rules unsettled and leaves the balance between consumer protection and American crypto leadership unresolved.
The procedural defeat freezes the SEC-CFTC jurisdictional split institutions have been waiting on, pushing any structural clarity deep into the next legislative cycle.
The 635-page bill represents a rare bipartisan construction, with Democrats credited for writing more than half its text, raising the odds of a floor vote.
With 60 votes needed to advance, the outcome hinges on whether any Democrats cross over after Republicans declared their latest text, which already incorporates 126 Democratic changes, a final offer.
With a procedural vote hours away, Republicans and Democrats remain deadlocked over an ethics provision targeting Trump's crypto profits, making the bill's first Senate hurdle look increasingly…