Stocks

A leaked draft of the CLARITY Act is prompting fresh debate over whether stablecoin platforms could be barred from offering yield that resembles deposit interest, while some activity-based rewards may still be allowed. Circle's stock fell 20% to $101.17 amid the regulatory news. Separately, Tether says it has engaged a Big Four firm for its first full independent audit as scrutiny of the sector rises.

Robinhood has authorized a $1.5 billion share repurchase program, set to be executed over the next three years. On Tuesday, HOOD closed down 4.7% at $69.08, its lowest close of the year, after the company also disclosed a new $3.25 billion revolving credit facility with JPMorgan Chase.

Ark Invest added 161,513 Circle (CLCR) shares across ARKK, ARKW and ARKF on Tuesday, a purchase valued at $16.34 million based on the $101.17 close. Circle shares slid 20% during the session amid several developments seen as potential headwinds for its USDC business, then rose 1.5% in after-hours trading.

Bitcoin retested $67,500 support on Monday as investors shifted toward cash while gold logged its steepest correction in more than 50 years. US 5-year Treasury yields rose to 4.10% and oil moved above $90, as futures pricing showed a 20.5% chance of a July rate hike. The risk-off backdrop also weighed on tech stocks, with several major names down 10% or more over the past six weeks.

Circle Internet Financial (NYSE: CRCL) fell about 20% intraday on March 24, 2026, dropping from around $125 to roughly $101 as traders reacted to U.S. policy language and competitor developments. Trading topped 30 million shares, with the stock oscillating near $102–$108 by mid-afternoon EDT. The move followed an updated CLARITY Act draft targeting passive stablecoin yield payments and Tether's plan to pursue a Big Four audit for USDT.

Circle Internet Financial shares (CRCL) fell 22% on Tuesday to $98 after reports said a revised Senate Banking Committee draft of the CLARITY Act would restrict stablecoin-related rewards. The text would bar platforms from offering yield "directly or indirectly" for holding stablecoins or assets treated like bank deposits, potentially affecting business models tied to interest on reserves.

Tether says it has begun the process of commissioning a full audit by a Big Four accounting firm, expanding its disclosures beyond periodic reserve attestations. On March 23, 2026, Celo reported more than 5 million weekly stablecoin users and 7.2 million+ stablecoin transactions last week, pointing to rising USDT utility. The move comes as a draft of the US Clarity Act sparks fresh concerns about potential restrictions on stablecoin yields and related rewards models.

Circle shares slid 20% on Tuesday as investors reacted to draft stablecoin legislation that could curb rewards tied to holding USDC. The move came alongside Tether's announcement that it has hired a Big Four accounting firm for its first full audit and claims that Circle froze USDC balances across 16 hot wallets.

Circle Internet Group's CRCL shares fell nearly 19% on March 24 as investors weighed concerns that proposed rules could restrict stablecoin yield and rewards. The stock moved from an intraday high near $127 to about $102 after rallying earlier in March from below $60 to above $130.

Bitcoin hovered around $70,000 on March 24, 2026 as global equities fell amid Iran war tensions. The asset recorded its longest run of negative correlation versus the S&P 500 since 2020, while U.S. spot Bitcoin ETFs logged $2.5B in monthly inflows and on-chain metrics suggested long-term holders were not distributing. Traders also watched $71,000–$71,500 as a potential breakout zone, with $68,500 cited as key downside support.