Cryptocurrency
Crypto Bill Support Withdrawn by Senator Marshall
Friday. July 26 at 11:30 AM
1 min. readRepublican Senator Roger Marshall has retracted his backing for a contentious anti-crypto bill co-authored with Senator Elizabeth Warren. Meanwhile, Donald Trump's campaign garnered over $3 million in cryptocurrency donations for Q2, primarily from exchange founders. 10x Research highlighted potential challenges ahead as outflows surpassed $100 million. Marshall's withdrawal as a cosponsor of the Digital Asset Anti-Money Laundering Act in July 2024 left 18 senators backing the bill. Introduced in December 2022, the bill, according to Warren, aims to curb illicit activities in the crypto sector. Criticism from various crypto entities warned of stifling the US industry. The launch of Ether ETFs initially boosted market sentiment but led to a sell-off, following a pattern seen with Bitcoin ETFs. Notably, Grayscale's Ethereum Trust saw significant outflows, while Bitwise recorded inflows from Pantera Capital, indicating mixed market sentiment.