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Affected by the setback of the CLARITY Act in the US Senate in September, Coinbase and several cryptocurrency industry organizations saw a decrease in federal lobbying spending in the third quarter compared to the second quarter. However, the total spending for the quarter still exceeded $4 million and remained above that level for six consecutive quarters. In the first half of 2026, the cryptocurrency industry has invested over $8 million to promote market structure legislation, with Coinbase spending approximately $2.2 million and Kraken investing nearly $1 million. Some lobbying firms terminated their partnerships with cryptocurrency industry clients in the third quarter.