Crypto stocks fall after Senate vote stalls CLARITY Act

Crypto-linked stocks drop after Senate blocks the CLARITY Act and shakes markets See which companies fell, why regulation stalled, and how bitcoin reacted

Shares of cryptolinked companies fell on Tuesday after the US Senate failed to advance the CLARITY Act, a bill that would have outlined how digital assets are regulated in the US. Circle and Coinbase each dropped about 10%, while bitcoin treasury companies and miners also declined. American Bitcoin fell around 8%, Strategy and Strive lost about 5%, and Riot Platforms, CleanSpark, Hut 8, and IREN also posted losses. The vote came on a cloture motion that did not reach the 60 votes needed to move the bill forward. The legislation would have helped define the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in overseeing the crypto market. After the vote, bitcoin briefly fell below $75,000 before recovering to around $76,000.