Crypto super PAC Fairshake plans to launch a $30M ad blitz against former Democratic Senator Sherrod Brown in the Ohio Senate race, after the Clarity Act failed (Theodore Schleifer/New York Times)

Crypto-linked equities surged Friday as regulatory actions by the CFTC and SEC under existing authority were announced. The rally reversed losses experienced after the Senate's inability to advance the CLARITY Act earlier in the week. Bitcoin's price climbed above $80,000, contributing to the positive market sentiment. Strategy experienced the most significant gain, jumping more than 13%, while Coinbase and American Bitcoin each rose about 11%.

Robinhood saw a nearly 9% increase, according to Yahoo Finance data. Other crypto-linked companies such as Circle, Strive, and Bitcoin miner Riot Platforms also gained between 5% and 7%. Bitcoin (BTC) was up around 5% in the past 24 hours, trading near $80,800. The rebound followed a sharp decline in these stocks following the Senate's failure to advance the CLARITY Act on September 15.

Coinbase and Circle lost about 10% each, while Strategy and Strive fell about 5% and American Bitcoin dropped approximately 8%. Since then, US regulators have initiated various actions under their existing powers. The CFTC provided no-action relief to passive software providers and the SEC temporarily eased requirements for platforms involved in onchain trading of tokenized securities.

The CFTC also submitted a crypto market regulatory proposal for White House review, though the details of the plan were not disclosed.