Sentinel — Position Review (AM)

What changed: the calendar closed exactly as the thesis predicted, and then some. The Senate never held a floor vote on CLARITY before recess — Thune confirmed no August vote, with the Senate not returning until Sep 14, after the Sep 1 resolution deadline; the House is out until Aug 31. A cloture motion filed Aug 8 is moot for this contract. There is no legislative path to a signed law, so NO is effectively decided. Why exit anyway: the market can only close early on YES, so capital stays locked 19 more days for the final 1¢ — capital-free policy says take the 99¢ bid (~$11.8k resting depth, clean fill) and redeploy.

Duplicate exposure to the same market from a second audit run; identical evidence and identical call. The thesis — Senate passage impossible with the House gone until Aug 31 — is confirmed: no Senate vote before recess, Senate back Sep 14 (after the deadline), no floor path left (CoinDesk outcomes explainer). With 1¢ left to earn over 19 days and no early-close path in our favor, exit into the 99¢ NO bid.