WSJ Headline: Trump's $1.4B Crypto Profit Triggers Democratic Defection

Core Event

Democratic Senator Angela Alsobrooks (Maryland) — previously a co-sponsor of the Clarity Act — announced she will vote against the bill in its current form unless ethical provisions are added to restrict the President from profiting from digital tokens.

"The President's corruption is shocking." — Alsobrooks told WSJ

Key Data

Three-Level Impact on the Market

① Short-term: The bill dies in the Senate

The Senate recesses starting Saturday until September. Only 3 legislative days remain. If it doesn't pass this time, the Clarity Act will be pushed post-election — the crypto industry remains in a regulatory vacuum. This is direct negative news for Coinbase/exchanges/stablecoin issuers.

② Medium-term: Stablecoin interest controversy splits both parties

The banking sector strongly opposes paying interest on stablecoins (fearing deposit outflows → smaller banks → reduced small business loans). The WSJ editorial explicitly sides with the banks. Without resolving this rift, the bill will never pass.

③ Long-term: Trump's crypto profit becomes a campaign target

$1.4 billion is too large a number. Democrats have turned it into an attack vector against Republicans for "corruption". Before the midterms in November, any Democrat supporting the crypto bill will face the soul-searching question: "Are you endorsing the President's $1.4 billion?"