Bernstein said the market may be underpricing progress on the CLARITY Act, according to a post reposted by GSR Head of Content and Special Projects Frank Chaparro. The firm said the latest ethics proposal may already represent the best attainable outcome and argued that White House concessions on state attorney general enforcement and crypto asset divestment could help secure enough Democratic support for Tuesday’s cloture vote. Bernstein also said some Democrats may not want to appear anti-crypto ahead of the midterm elections. In prediction markets, the odds have climbed back above 30%. The firm added that any positive surprise is still not priced in, pointing to a gap between current expectations and the bill’s perceived path forward.
Bernstein said the market may be underestimating progress on the CLARITY Act, according to a post reposted by Frank Chaparro, GSR’s head of content and special projects.
The firm said the latest ethics proposal 「may already be the best outcome」 and argued that White House concessions on state attorney general enforcement and crypto asset divestment could be enough to win Democratic backing for Tuesday’s cloture vote.
Bernstein also said some Democrats may be reluctant to look 「anti-crypto」 ahead of the midterm elections. Prediction market odds have rebounded to above 30%. The firm added: 「Any positive surprise is certainly not priced in yet.」
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