Cathie Wood Is Buying Coinbase and Circle Stock as the Sell-Off Ramps Up Ahead of the Clarity Act Vote. Here's the Bet.

Cathie Wood's Ark Invest is purchasing shares of Coinbase and Circle ahead of a potential Senate vote on the Clarity Act, a cryptocurrency regulation bill. The act would establish regulatory frameworks between the SEC and CFTC, define mature blockchains, and set rules for stablecoins. While the House passed the bill in June, Senate passage remains uncertain with only a 25% probability as of July 9, requiring 60 votes and support from seven Democrats.