Crypto stocks slide after CLARITY Act falters to advance in Senate
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Circle and Coinbase shares fell about 10% as the failed Senate vote weighed on crypto-linked equities, with Bitcoin miners and treasury companies also declining.
Key facts
Following the vote, Bitcoin briefly fell below $75,000, but had climbed back to around $76,000 at the time of writing, CoinGecko data showed
Bitcoin treasury companies were also hit, with American Bitcoin falling around 8%, while Strategy and Strive each declined about 5%, according to Yahoo Finance data
Armstrong was even more explicit about the bill’s prospects in August, predicting either “60+ votes in the Senate on September 15th” or new rules from the CFTC and SEC on Sept
Crypto-linked stocks fell sharply on Tuesday after the US Senate failed to advance the CLARITY Act, with shares of Circle and Coinbase dropping about 10%
Summary
Crypto-linked stocks fell sharply on Tuesday after the US Senate failed to advance the CLARITY Act, with shares of Circle and Coinbase dropping about 10%. Bitcoin treasury companies were also hit, with American Bitcoin falling around 8%, while Strategy and Strive each declined about 5%, according to Yahoo Finance data. Coinbase (COIN) shares fell 9.9% on Tuesday. The declines followed a Senate vote on a cloture motion to bring the legislation to the Senate floor, short of the 60 votes required.