Matt Hougan, Chief Investment Officer (CIO) of cryptocurrency asset management firm Bitwise, said, "The cryptocurrency market has seen an uptrend since the failure of the Clarity Act. This reflects the expectation that the industry could gain a more favorable regulatory environment in the short term, rather than long-term legislative certainty." According to CryptoBriefing, he stated, "Some of the compromises included in the bill may have been less favorable to parts of the cryptocurrency industry than actions subsequently taken by federal regulators. A prime example is stablecoins. As banks worried about increased deposit competition, there were discussions during the Clarity Act negotiations to address regulatory gaps concerning rewards. The failure of the Clarity Act could actually benefit platforms like Coinbase that use stablecoin rewards to attract customers." He further explained, "The Clarity Act aimed to establish a more comprehensive federal-level market structure for the digital asset market. If the bill had passed, it could have lowered some regulatory barriers for new competitors entering the market, but also created new burdens for existing operators."