Crypto Traders Lose $571M After U.S. Senate Blocks CLARITY Act
A failed Senate vote to advance the CLARITY Act triggered about $571 million in liquidations, unwinding a rally built on hopes of regulatory progress.
AfroEuropa Newsroom
AfroEuropa desk
Crypto traders wagering on continued price gains lost roughly $571 million over a 24-hour period after the U.S. Senate declined to advance the CLARITY Act, according to reporting by BitKE citing CoinGlass data. The setback erased a rally that had been fuelled by expectations that the legislation would move forward.
Long positions made up the bulk of the losses, at about $571 million, against roughly $100 million in short liquidations. BitKE reported that the long-liquidation total was the largest since August 22, 2026.
Bitcoin and ether traders absorbed the heaviest losses, with about $190 million in long positions wiped out for each. XRP longs accounted for around $30 million and Solana longs for about $22 million.
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