Crypto Stocks Surge as Clarity Act Progress Lifts Market Sentiment

Circle Leads Rally With Nearly 20% Gain

Crypto related equities moved sharply higher as momentum built around the proposed Clarity Act. Circle led the advance, jumping 19.89% to close at $119.53, extending its strong run to over 32% in the past month and more than 50% year-to-date.

Coinbase also gained 6.14%, while BitGo rose 10.26%. Robinhood added nearly 4%, and SOL Strategies climbed 17.83%. The rally came even as broader markets weakened, with the Dow Jones Industrial Average down 1.13% and the S&P 500 slipping 0.41%.

Stablecoin Policy Compromise Drives Optimism

The gains followed a policy breakthrough led by Angela Alsobrooks and Thom Tillis, who agreed on language addressing stablecoin yields. The proposal restricts issuers from offering interest-like rewards to U.S. users holding stablecoins, aiming to prevent competition with traditional bank deposits.

Banking Sector Pushback Highlights Ongoing Debate

Despite progress, banking groups argued the revised framework does not go far enough, warning that indirect reward mechanisms could still shift deposits away from banks. Senator Tillis defended the compromise as a balanced approach, describing it as a consensus-driven step toward clearer digital asset regulation.