Trump Faces Stunning Setback — Crypto Bills Blocked in House Vote, Market Turmoil Looms?

TradingKey

AuthorBlock Tao

Jul 16, 2025 5:44 AM

View all comments（0）



TradingKey – On Tuesday, July 15, three major crypto bills backed by President Donald Trump were unexpectedly defeated in a procedural vote in the U.S. House of Representatives. The tally: 196 in favor, 223 against, effectively halting the legislation from advancing to formal debate or reaching Trump’s desk for signature.

The market reacted swiftly:

Bitcoin (BTC) extended its decline, falling below $118,000
Crypto stocks plunged:
- Canaan Inc. (CAN): down 10.59%
- Circle (CRCL): down 4.58%
- MicroStrategy (MSTR): down 1.93%
- Coinbase (COIN): down 1.52%

Trump reportedly expressed frustration over the vote, which saw 13 House Republicans break ranks and join Democrats to block the bills. However, according to Politico, Trump has since brokered a deal with GOP hardliners to revive the legislation.

In addition, cryptocurrency reporter Eleanor Terrett revealed that the U.S. House of Representatives has scheduled a new round of procedural voting, which is expected to take place at noon Eastern Time on July 17.

While the revised vote may have a higher chance of passing, amendments to the bill language are likely, especially around CBDC provisions. If the second vote fails, it could trigger further downside pressure on Bitcoin and crypto-related equities.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Iran Situation Rekindles Threat of War. Bitcoin Price Decline Accelerates, $75,000 Geopolitical Defense Line Faces Test

Discussions between the U.S. and Israel regarding renewed strikes on Iran have triggered an accelerated pullback in Bitcoin prices; the future rally hinges on whether the $75,000 support level can hold.

US-Iran Tensions Heat Up Again, Brent Crude Breaches $110 Mark, Institutions Warn Oil Prices May Approach 2008 Peak Level

Tradingkey - Geopolitical tensions escalated sharply over the weekend. Following the conclusion of Trump's visit to China, tensions between the U.S. and Iran flared up once again. Renewed expectations of a long-term blockade of the Strait of Hormuz pushed both major crude oil futures to nearly two-week highs. As of press time, Brent crude broke above the $110 mark, rising 1.80% to $111.45 per barrel, having touched its highest level since May 5 during intraday trading. WTI crude oil futures rose 2.39% to $103.41 per barrel.

Gold Prices Drop Below $4,500, Gold Prices May Fall to $4,360 This Week

TradingKey - In the early Asian session on May 18, gold prices (XAUUSD) extended last week's downward trend, falling for the fifth consecutive trading day. Prices briefly broke below $4,500 intraday, hitting a low of $4,480.54. Gold is currently trading at $4,497.11, down approximately 1% from last Friday.

OpenAI Restructuring: Merging ChatGPT & Codex for AI Agents to Fight $900B Anthropic Ahead of IPO

TradingKey — According to a report by WIRED, OpenAI recently announced a corporate restructuring to consolidate its product lines. Its three core product offerings—ChatGPT, Codex, and the API—are being dismantled and merged into a unified product organization to "embrace" the Agentic Future; co-foun

SpaceX IPO Date Moved Up to June 12: What Should Investors Watch? How Can European and Asian Investors Buy SpaceX Shares? What Is the Impact on Broad US Markets?

TradingKey - Last Friday (May 15), The Wall Street Journal reported, citing people familiar with the matter, that Elon Musk’s SpaceX plans to officially list on the Nasdaq on June 12 under the ticker symbol “SPCX,” with an expected fundraising target of $80 billion or more. If successful, this would

Featured Tools