Crypto stocks rebound after CLARITY Act selloff
Coinbase, Strategy and other crypto-linked stocks rallied Friday as the CFTC and SEC moved ahead with crypto-related actions under existing authority.
Crypto stocks rebounded sharply on Friday, reversing losses that followed the Senate’s failure to advance the CLARITY Act earlier in the week. Coinbase, Strategy, and other crypto-linked stocks rallied, with Coinbase and American Bitcoin climbing about 11% each, and Strategy leading the gains with a more than 13% increase. Bitcoin also climbed back above $80,000, with the cryptocurrency gaining about 5% over the past 24 hours to around $80,800.
The rally was fueled by US regulators taking action under existing authority, with the CFTC providing no-action relief to passive software providers and the SEC temporarily easing requirements for certain platforms facilitating onchain trading of tokenized securities.
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