TD Cowen analysts noted that although former President Trump’s call for banks to negotiate with the cryptocurrency industry over the CLARITY Act is constructive, his statements on social media alone are not enough to break the legislative deadlock. They believe the President needs to get directly involved, but this is unlikely given the current geopolitical tensions. Key obstacles include disputes over whether platforms should be allowed to offer stablecoin yields and the proposed rules on conflicts of interest for officials. The analysts believe a compromise is possible, but the outlook remains uncertain as the Senate will bring additional political challenges.