CryptoMedium•1 October 2026•
1 min read
Bitcoin and Coinbase Rally After U.S. Senate Rejects Clarity Act
Key Facts
1Cryptocurrencies and Coinbase shares rallied after the Clarity Act failed to pass in the U.S. Senate.
2Bitwise CIO Matt Hougan noted that the bill's failure benefited stablecoins, exchanges, and tokenized stocks.
Cryptocurrencies and Coinbase shares rallied after the Clarity Act failed to pass in the U.S. Senate. Blockonomi reported that the proposed bill fell short of the required votes in a 49-50 decision, triggering a relief rally across the market including Bitcoin and Ether.
Bitwise CIO Matt Hougan noted that the bill's failure benefited stablecoins, exchanges, and tokenized stocks, as the legislation would have restricted stablecoin yields and altered exchange licensing rules. COIN closed at $186.41 on September 30, 2026, having reached a session high of $198.66.