Circle experienced a significant drop in stock value, falling 20% in a single day. This decline is linked to new language in the Clarity Act draft that could impact stablecoin yields.
Circle's stock fell 20% on Tuesday, marking its worst day since going public. The decline is attributed to a draft of the Clarity Act, which includes provisions that could threaten to ban stablecoin yields, including anything deemed economically or functionally equivalent to interest.