U.S. Senate Blocks CLARITY Act; Warren Says Trump Family Made $1.4B From Crypto in 2025

ChainCatcher reports that Sen. Elizabeth Warren spoke for more than 10 minutes on the Senate floor, urging colleagues to vote against the CLARITY Act. Warren said former President Donald Trump and his family earned $1.4 billion from cryptocurrency-related activities in 2025 alone, exceeding the annual revenue reported last year by any publicly traded U.S. crypto company. She added that buyers of Trump-linked crypto projects suffered billions of dollars in losses, including nearly $4 billion in losses among meme coin purchasers. The Senate did not move the bill forward, with the vote ending 49–50, 11 votes short of the 60 needed to clear procedural hurdles. No Democrats voted to advance the measure. Warren argued the legislation would deepen Trump's corruption and dismissed ethics language negotiated by Republicans with the White House as "a thin veneer," saying it would not stop Trump from continuing to profit from crypto. She also warned the bill would open a major loophole in nearly a century of U.S. securities law, allowing non-crypto companies to tokenize assets to bypass investor protections. In addition, she said it could permit banks to use customer deposits for crypto lending, derivatives trading, node operations, and the sale of related software.