Senate Democrats have sent a CLARITY Act counterproposal before Tuesday’s vote, but pro-XRP (CRYPTO: XRP) lawyer John Deaton is less than impressed by the last-minute negotiations: Democrats would block Trump “even if America was burning.”
What Is Happening on the Senate Floor
Politico reporter Jasper Goodman posted on X Monday that Senate Democrats negotiating on the CLARITY Act prepared a counterproposal for Republicans just hours ahead of Tuesday’s 2:15 p.m. ET procedural vote.
Democrats met in Minority Leader Chuck Schumer’s office Monday evening to discuss their path forward.
Sen. Mark Warner (D-VA) confirmed the move exiting the meeting, while Sen. Raphael Warnock (D-GA) told reporters Republicans would receive the counterproposal that night.
Moreover, Sen. Adam Schiff (D-CA) told Politico the ethics language in the latest GOP text still does not go far enough, arguing the provisions would not cover the first family in their current form and contain “too many carveouts.”
What Deaton and Lummis Are Saying
Pro-XRP lawyer John Deaton posted on X that he predicted two months ago Democrats would find a reason to vote no even if President Donald Trump agreed to their demands—and that prediction is playing out exactly as he expected.
“They hate Trump and despise him being reelected so much that if America was burning to the ground and it was Trump who held the water hose to put the fire out, they’d turn off the water,” Deaton wrote.
Meanwhile, Sen. Cynthia Lummis (R-Wyo.) pushed back on X, writing that Democrats have already received over 120 wins and a majority of their ethics requests.
“The time for negotiating is over. Let’s vote. Let’s pass this strong, bipartisan bill,” she posted.
What the Market Is Pricing In
Speaking with CoinDesk, FxPro chief market analyst Alex Kuptsikevich noted that the total crypto market cap sits at $2.65 trillion, roughly where it traded in May when prediction markets gave the CLARITY Act better than a 75% chance of passing.
“It appears the market is getting used to life without this legislation,” Kuptsikevich said.
The market briefly touched $2.71 trillion Tuesday before sliding back as Democrats tabled their counterproposal.
Uniswap (CRYPTO: UNI) and Stellar (CRYPTO: XLM) led gains at over 5% each, while XRP added nearly 2%.
However, Filecoin (CRYPTO: FIL) dropped roughly 11% as the worst performer on the day.
Polymarket currently prices the odds of the bill becoming law in 2026 at around 18%.
Photo via Shutterstock
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