Strategy shares fall 5% after CLARITY Act fails in Senate
- —MSTR fell 5%, Coinbase dropped 10% after the CLARITY Act vote failed
- —The Senate postponed the bill, and Congress leaves for recess before November elections
- —Barclays maintained Buy on Strategy and raised its target from $125 to $160
- —Banking groups and the Indian Gaming Association opposed the bill
Why it matters: The CLARITY Act's failure delays clear market rules and increases pressure on crypto stocks and bitcoin ahead of the elections.
Source: Invezz