Grayscale Warns CLARITY Act Failure Could Pressure Bitcoin; Galaxy Cuts Passage Odds to 50-50

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According to Grayscale Research on June 26, stalled CLARITY Act legislation could add downward pressure on bitcoin and digital asset treasuries (DATs). Galaxy Research has cut its estimated odds of the bill's passage in 2026 to 50-50, citing a compressed Senate calendar, lack of a scheduled floor vote, and unresolved committee differences. Zach Pandl, Grayscale's head of research, warned that if the CLARITY Act fails to pass this year, Strategy and other DATs holding bitcoin on their balance sheets may deleverage further, potentially triggering additional price declines.
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