Memecoins Before the Ink: Scaramucci Says Trump’s Launches Sputtered CLARITY Act

SkyBridge Capital founder Anthony Scaramucci blamed US President Donald Trump’s crypto business interests and memecoin launches for eroding Democratic support for the CLARITY Act, saying the activities near the start of his term reversed post-election momentum for crypto regulation. Speaking with Cointelegraph at SALT London, Scaramucci called the memecoin launches the “Singular reason” the legislation failed to advance, adding that Democrats became more receptive to crypto regulation before withdrawing their support.

The Senate’s procedural motion on Sept. 15 received 49 votes in favor and 50 against, falling short of the 60 votes required. The bill sought to establish a federal regulatory framework for digital assets, but negotiations broke down over ethics provisions restricting government officials’ crypto interests. Scaramucci also said lawmakers were “trying to put real teeth into the ethics provision” while the White House opposed signing it, adding, “There’s culpability on both sides for that deal not going forward.”

The dispute followed calls in July from five Democratic senators for hearings into Trump’s crypto holdings and potential conflicts of interest. House Financial Services Committee Chair French Hill also said Trump’s crypto businesses complicated efforts to pass legislation. In August, consumer advocacy group Public Citizen estimated that investors incurred at least $4.7 billion in largely unrealized losses across Trump-related crypto ventures, including $3.2 billion associated with the Official Trump (TRUMP) memecoin. The group also said Trump earned $635 million in memecoin licensing fees in 2025, citing his financial disclosure.

Despite the setback, Scaramucci said the SEC’s approach under Chair Paul Atkins could help tokenization reach “escape velocity,” the point at which adoption becomes difficult for a future SEC chair to stop or slow. He said it was too early to determine whether the industry could reach that threshold before the next administration.