[TD Cowen: Trump's Post on Crypto Bill 'Not Enough' to Advance Legislative Process] According to The Block, TD Cowen stated that U.S. President Trump's social media post regarding the CLARITY Act is constructive, but this alone is not sufficient to advance the legislative process. Direct presidential involvement in negotiations between banks and the crypto industry is needed to break the current deadlock. However, given the ongoing armed conflict between the U.S. and Iran, such involvement is unlikely to happen. Currently, the two major issues hindering legislation are stablecoin yields and conflicts of interest. The White House has held multiple closed-door meetings but has yet to reach a compromise. TD Cowen believes that even if the issue of stablecoin yields is resolved, the bill would still need the support of at least 10 Democratic senators. It is expected that the real deadline for the CLARITY Act is before the start of the August recess.