Bitwise CIO Matt Hougan Revises Crypto Outlook After CLARITY Act Fails in Senate
Following the failure of the CLARITY Act in a September 15, 2026 Senate vote (49-50), Bitwise Chief Investment Officer Matt Hougan initially warned that prolonged stagnation could follow. However, he later revised his stance, calling it more of a speed bump than an obstacle for crypto markets. Despite the setback, Bitcoin rebounded by nearly 38% from July to September 2026 after hitting $57,950 in early July. Hougan had previously argued that passing CLARITY was crucial for market growth and held this view until August. The failed vote coincided with a broader industry downturn, including over 7,250 layoffs across the sector, as Bitwise itself cut 14% of its staff in 2026. Despite his revised optimism, Hougan maintained three key concerns: agency rules can be reversed by future administrations; only Congress can expand CFTC’s authority to spot crypto markets; and a statute like CLARITY would have offered more durable regulatory clarity than current executive actions.
Topics: Bitwise CLARITY Act crypto regulation Matt Hougan Senate vote