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Circle Stock Tumbles 20% on Newest Clarity Act Draft | CoinDesk Daily
Description
Circle and Coinbase shares fell following new Clarity Act's stablecoin rules.
Circle shares fell 20% and Coinbase dropped about 10% after a draft of the U.S. Clarity Act raised the prospect of strict limits on stablecoin yield. The sell-off also comes as rival Tether moved to bolster confidence by hiring a Big Four accounting firm for a full audit. CoinDesk's Jennifer Sanasie hosts CoinDesk Daily.
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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.