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🚨STABLECOIN STOCKS JUST CRASHED
→ Circle down sharply 20%.
→ Coinbase down 11%.
Approximately $5 billion was wiped out from Circle's market capitalization in just one trading session.
👉 What happened❔
A new draft CLARITY Act has emerged.
Exchanges and brokers are not permitted to provide interest rates or economically equivalent returns on dollar tokens.
In short: Congress just drew the line that banks have always wanted.
Stablecoin = payment method.
NOT a substitute for deposits.
A draft law just changed how the market values stablecoins. 🔥
( Translated from English by...)