Crypto stocks rebound after CLARITY Act selloff
Coinbase, Strategy and other crypto-linked stocks rallied Friday as the CFTC and SEC moved ahead with crypto-related actions under existing authority.
Coinbase, Strategy and other crypto-linked stocks rallied Friday as the CFTC and SEC moved ahead with crypto-related actions under existing authority.
Crypto-linked stocks rebounded sharply on Friday, reversing losses that followed the Senate’s failure to advance the CLARITY Act earlier this week, as Bitcoin climbed back above $80,000.
Strategy led the gains, rising more than 13%, while Coinbase and American Bitcoin climbed about 11% each. Robinhood gained nearly 9%, according to Yahoo Finance data.
The rally extended across other crypto-linked equities, with Circle, Strive and Bitcoin miner Riot Platforms all gaining between about 5% and 7%. Bitcoin (BTC) was also up about 5% over the past 24 hours to around $80,800 at the time of writing, according to CoinGecko.