Compound Founder: The failure of the Clarity Act has made everyone a loser

The founder of Compound, Robert Leshner, stated that the Clarity Act failed to pass today, making everyone a loser, as partisan games overshadowed common sense.

He noted that the boundary between tokens and securities has not become clearer, entrepreneurs will still tend to build and finance overseas, investors will not gain more information or protection, developers have no additional safeguards for decentralized systems, banks remain constrained by stablecoins that can pay rewards, and government employees have no ethical barriers in the crypto space.

Leshner expressed that he mainly feels regret for those in the industry and for the bipartisan supporters of the bill in the House and Senate, believing that the shine of American leadership has slightly dimmed.