The chief executive of Coinbase claimed that a small number of major financial institutions fought the government to stop the passage of the CLARITY Act. Brian Armstrong denied assertions in a Wall Street Journal report that his opposition caused the bill's failure, stating he strongly supported the final Senate version after his primary concerns were addressed.

Armstrong previously opposed a January draft of the legislation because of rules concerning tokenization, DeFi, CFTC authority, and stablecoin rewards. While those issues were later resolved, Galaxy research head Alex Thorn stated the act has a "tiny chance" of revival in the current session of Congress and advised the industry not to expect it.