Crypto stocks tumble after Senate rejects Clarity Act

U.S. Senate lawmakers voted 49-50 against a procedural motion to advance the Digital Asset Market Clarity Act, falling short of the 60 votes required. The defeat triggered a sharp sell‑off across publicly traded crypto‑related companies.

Major losers

• Coinbase (COIN) fell nearly 9% to $174.42.
• Circle (CRCL) dropped 9.4% to $88.26.
• Galaxy Digital (GLXY) lost about 8%.
• Gemini (GEMI) slipped 7%.

Broader sector impact

• Robinhood (HOOD) down 3%.
• Bullish (BLSH) down 5%.
• eToro (ETOR) down 4%.
• Crypto miners such as Riot Platforms (RIOT), MARA Holdings (MARA), CleanSpark (CLSK), IREN and Core Scientific (CORZ) fell between 3% and 5%.

Context

The Clarity Act would have clarified how various cryptocurrencies and blockchain projects are regulated in the United States and expanded the Commodity Futures Trading Commission’s authority over spot crypto markets. Its failure means the industry must wait longer for a comprehensive federal framework.

Investors also trimmed risk ahead of the Federal Reserve’s upcoming policy decision, which is expected to result in a rate hike. Bitcoin was down roughly 3% over the prior 24 hours, briefly testing the $75,000 level, and broader equity indices such as the Nasdaq and S&P 500 were also in the red.