š° Did US Media Want to āBlackā Binance? Armstrong Pulled His Move Early: Whoās Behind BLARITYās Defeat?
Before Coinbase CEO Armstrong published a critical piece in the WSJ, he first fired off a retort on X. He said that the US media was planning to write an article that scapegoats him, accusing him of being responsible for the failure of the BLARITY bill. Armstrong directly pushed backāmore or less a preemptive strike. This is a big deal in the crypto space, especially since the WSJ has significant influence.
Why is this news important?
At the core of it, the BLARITY bill was a total defeat in the Senate. The crypto industry has long wanted to establish a federal-level legal framework, but the bill was shut down outright. As a leader in the industry, Coinbase will definitely take a position in how responsibility is assigned. Armstrongās early PR suggests heās worried that the media will treat him as the convenient fall guy. Why does it matter? Because it reflects the uncertainty of the regulatory environmentāand how media coverage can shape industry sentiment.
Impact on the market
For BTC and ETH, this is more of a sentiment disturbance. In the short term, people may start discussing whether this is another sign of regulatory crackdowns. But in the long run, the failure of the BLARITY bill means the industry will have to keep feeling its way forward. Historically, during these periods of regulatory wavering, markets often see volatility. For example, around the same time last year, certain regulatory headlines also led Bitcoin to experience a few days of mild swings.
š” My take: In the short term, BTC could face pressure, mainly because negative sentiment may build up. But if it breaks below the $80K support level, the logic wonāt hold. That means if the market continues to fall, the impact of this report will be less significant.
[Conditions that invalidate the take] If the market interprets the fundamental reason for the BLARITY billās failure (e.g., lack of unity within the Democratic Party) as more crucial than Coinbase, then this take becomes invalid.
This article has no project sponsorship. The author does not hold any of the mentioned assets.
According to Bitcoin.com
$BTC $ETH #BTC #ETH
ā ļø Not investment advice; predictions are for reference only
#SEC
Before Coinbase CEO Armstrong published a critical piece in the WSJ, he first fired off a retort on X. He said that the US media was planning to write an article that scapegoats him, accusing him of being responsible for the failure of the BLARITY bill. Armstrong directly pushed backāmore or less a preemptive strike. This is a big deal in the crypto space, especially since the WSJ has significant influence.
Why is this news important?
At the core of it, the BLARITY bill was a total defeat in the Senate. The crypto industry has long wanted to establish a federal-level legal framework, but the bill was shut down outright. As a leader in the industry, Coinbase will definitely take a position in how responsibility is assigned. Armstrongās early PR suggests heās worried that the media will treat him as the convenient fall guy. Why does it matter? Because it reflects the uncertainty of the regulatory environmentāand how media coverage can shape industry sentiment.
Impact on the market
For BTC and ETH, this is more of a sentiment disturbance. In the short term, people may start discussing whether this is another sign of regulatory crackdowns. But in the long run, the failure of the BLARITY bill means the industry will have to keep feeling its way forward. Historically, during these periods of regulatory wavering, markets often see volatility. For example, around the same time last year, certain regulatory headlines also led Bitcoin to experience a few days of mild swings.
š” My take: In the short term, BTC could face pressure, mainly because negative sentiment may build up. But if it breaks below the $80K support level, the logic wonāt hold. That means if the market continues to fall, the impact of this report will be less significant.
[Conditions that invalidate the take] If the market interprets the fundamental reason for the BLARITY billās failure (e.g., lack of unity within the Democratic Party) as more crucial than Coinbase, then this take becomes invalid.
This article has no project sponsorship. The author does not hold any of the mentioned assets.
According to Bitcoin.com
$BTC $ETH #BTC #ETH
ā ļø Not investment advice; predictions are for reference only
#SEC
