Crypto stocks rally amid Clarity Act momentum; Circle jumps nearly 20%
The Block
Crypto-related stocks climbed on Monday, led by Circle, following progress on stablecoin legislation known as the Clarity Act.Summary
Crypto-related stocks rallied on Monday as political momentum increased for the Clarity Act. Circle saw its shares jump nearly 20% after Senators Angela Alsobrooks and Thom Tillis reached a compromise on stablecoin yield provisions. While the crypto sector gained, broader U.S. markets declined amid Middle East geopolitical tensions, even as Bitcoin surpassed $80,000. Despite the legislative progress, banking trade groups argued that the current compromise still fails to fully address concerns regarding deposit flight from traditional banks.
(Source：The Block)