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October 2, 2026 12:06 pm
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BitGo CEO Mike Belshe said the lack of progress on the U.S. Clarity bill is leaving the crypto market exposed to ongoing systemic risk. Belshe said the main issue is a structure in which a single firm simultaneously operates a trading platform, brokerage and asset custody service. While the collapse of a brokerage alone could limit damage to part of the market, the failure of a firm running an exchange and custody services as well could spread the shock across the broader market.