Kevin Hassett Urges CLARITY Act as Bitcoin's Average Drawdowns Hit 58%

On 13 February 2026, Kevin Hassett told CNBC's Squawk Box that Bitcoin's sharp swings are typical, citing average drawdowns of about 58% in major pullbacks. He pressed Congress to fast-track the CLARITY Act and send it to President Donald Trump this spring, even as industry support has waned over stablecoin yield bans, tokenized equity limits, and heavy compliance costs.