Bitwise CIO Matt Hougan reversed a months-long warning about the CLARITY Act within 24 hours of its Senate defeat, and the market celebrated his pivot. But three quiet caveats buried in his memo tell a different story about what he…
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In a memo, Bitwise Chief Investment Officer Matt Hougan compared the CLARITY Act to crypto’s Punxsutawney Phil, suggesting a failed Senate vote would lead to prolonged stagnation for the sector. The bill was defeated on September 15, 2026, by a vote of 49 to 50.
The next day, he withdrew his warning, framing the setback as a speed bump rather than a major…
