Crypto stocks slide after CLARITY Act fails to advance in Senate
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.
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.
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. Bitcoin miners joined the selloff, with Riot Platforms falling about 6%, CleanSpark nearly 5%, Hut 8 more than 4% and IREN almost 4%.
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.