Fed Delivers a Hawkish Hike, But Crypto Holds Firm (Good Sign) as Treasury Tension Builds, ZEC Continues to Offer Idiosyncratic Upside

First, closing the loop on Clarity, yesterday's procedural vote failed to reach the 60 votes required to move the bill toward Senate debate. The official tally was 49-50. For the time being, I think it is appropriate to treat Clarity as effectively dead and defer any potential revival to an uncertain later date, likely with a future Congress. The positive read-through is that the regulatory story does not end with ...

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