Circle Stock Rebounds 7% After Biggest One-Day Drop Ever Amid Stablecoin Yield Legislation Fears
Circle (CRCL) shares rebounded up to 7% on Wednesday, recovering from its biggest single-day drop on record as investors weighed proposed 'Clarity Act' legislation that would bar crypto platforms from offering yield on stablecoin balances. Partner exchange Coinbase (COIN) also recovered 4% after an 8% prior decline.