A crypto PAC network just backed 32 House candidates because the CLARITY Act died in the Senate. The irony burns hotter than a Nvidia GPU farm in July. They named it CLARITY. It failed. Now we get to watch which lawmakers survive the midterms to regulate an industry they understand about as well as your uncle understands his Ring doorbell.
Fairshake dropped cash on 32 candidates. Not 30. Not 35. Exactly 32. Someone in that organization counted every single House race where a candidate might accidentally vote yes on crypto legislation without reading it first. They built a spreadsheet. They ran models. They identified the precise number of congresspeople needed to keep Bitcoin legal enough to pump but unregulated enough to dump.
The CLARITY Act failed because senators looked at crypto regulation and decided they'd rather do literally anything else. Can't blame them. Explaining blockchain to a 73-year-old who still uses AOL email is not why anyone runs for Senate. But now the stakes are raised, apparently. As if the stakes weren't already raised when FTX collapsed and everyone's cousin lost his mortgage payment on Dogecoin.
Retail traders are thrilled. They think backing candidates means crypto goes to the moon. They don't realize Fairshake isn't backing candidates for them. Fairshake is backing candidates who will write rules that let VCs exit their positions before the next exchange spontaneously combusts. The midterms will determine which lawmakers return to Congress. Those lawmakers will shape crypto regulation. And retail will learn the same lesson they always learn.
They'll learn it right after they buy the dip.
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