Wall Street panics over $6.6T crypto risk as Bitcoin hits $82K amid Clarity Act debate

Bitcoin surged past $82,000 recently amid hopes for a $16 trillion crypto supercycle, but Wall Street is in panic over a $6.6 trillion risk tied to stablecoin yields in the new Clarity Act. The American Bankers Association warned banks to oppose the bill's allowance of interest-like yields on stablecoins, fearing it threatens economic stability. The bill, debated in the Senate, aims to clarify crypto regulations and protect DeFi developers, with strong political and industry pushback. Its passage could boost institutional crypto investment but also trigger market shocks as the crypto ecosystem braces for impact.