Bloomberg ETF analyst Eric Balchunas said the crypto industry made every effort to advance the Clarity Act, but partisan disputes ultimately obstructed the legislation. He rejected the view that the industry had caused the setback itself. Balchunas also said about 90% of media outlets tend to criticize crypto whenever opportunities arise, a pattern he considers especially pronounced since the current government became more favorable toward crypto. He argued that Bitcoin’s censorship resistance and ability to protect against currency debasement could give it potential value in poorer countries, creating a contrast with media outlets’ self-described progressive positions.