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The Block (@TheBlockCo): THE BLOCK: Bitwise CIO Matt Hougan says the Clarity Act's failure may matter less for crypto markets than he previously expected, pointing to bitcoin'…

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THE BLOCK: Bitwise CIO Matt Hougan says the Clarity Act's failure may matter less for crypto markets than he previously expected, pointing to bitcoin's rally as the bill's passage odds declined. $BTC He expects SEC and CFTC rulemaking to help sustain the crypto bull market without legislation.

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