Crypto stocks were a sea of red Tuesday afternoon after the Senate failed to advance the Clarity Act, dealing a major blow to an industry that has spent years — and hundreds of millions of dollars in campaign contributions — gunning for a comprehensive U.S. regulatory framework. Coinbase COIN$172.05·Market Closed was down nearly 9% at $174.42, while stablecoin issuer Circle CRCL$86.30·Market Closed dropped 9.4% to $88.26. Galaxy Digital GLXY$22.27·Market Closed lost 8% and Gemini (GEMI) fell 7%.