Analyst: CLARITY Act Bullish for Circle Despite 20% Daily Drop

Circle Internet Group, issuer of USDC, the world’s second-largest stablecoin, saw $4.6 billion wiped from its market cap on March 24 when its CRCL stock fell by some 20%, closing at around $101 after opening the session above $126. The trigger was a draft update to the CLARITY Act that sought to bar crypto platforms from passing stablecoin yield to their customers. Sell-Off May Have Gotten Ahead of the Facts As…