On Wednesday evening, the Senate Banking Committee delayed final discussions around a bill for creating greater regulatory clarity for crypto in the United States, fittingly known as the Clarity Act. The decision came as Coinbase CEO and deep-pocketed political donor Brian Armstrong went public with his complaints about the bill.

Coinbase Global and Robinhood Markets slump Thursday as fresh turmoil around a long-awaited U.S. crypto market-structure bill rattled investors.

Crypto industry leaders scrambled Thursday to salvage the market structure bill—but some conceded the bill now has lower chances of passage.

Bitcoin’s rally was stalling early Thursday after the Senate Banking Committee postponed a hearing on a key crypto bill following an intervention from Coinbase.

Crypto legislation vote postponed as Coinbase CEO withdraws support from CLARITY Act, citing concerns over tokenized equities ban and DeFi restrictions.

U.S. Senate Democrats are reportedly set to reopen talks with representatives from the cryptocurrency industry on Friday regarding the CLARITY Act.

Coinbase faces backlash after pulling support for the CLARITY Act, as critics claim the move is driven by competition fears.