Trump’s Big Beautiful Bill is a key piece of legislation that covers a huge range of topics. Intense political controversies caused the bill to change shape many times, but it finally passed the Senate today.
However, Senators overwhelmingly rejected the bill’s language supporting AI, showing a massive rebuke for the entire industry.
The vote was nearly unanimous, signaling real apprehension towards the industry. Indeed, the only Senator who voted for it, Thom Tillis, already announced that he won’t seek re-election.
A lot of cryptoassets are tied to the AI industry, and the market sector has taken some major hits since the bill’s language changed. Market cap and volume are both down over 5%: