Stocks

Circle Internet Financial (NYSE: CRCL) fell about 20% intraday on March 24, 2026, dropping from around $125 to roughly $101 as traders reacted to U.S. policy language and competitor developments. Trading topped 30 million shares, with the stock oscillating near $102–$108 by mid-afternoon EDT. The move followed an updated CLARITY Act draft targeting passive stablecoin yield payments and Tether's plan to pursue a Big Four audit for USDT.

Circle Internet Financial shares (CRCL) fell 22% on Tuesday to $98 after reports said a revised Senate Banking Committee draft of the CLARITY Act would restrict stablecoin-related rewards. The text would bar platforms from offering yield "directly or indirectly" for holding stablecoins or assets treated like bank deposits, potentially affecting business models tied to interest on reserves.

Tether says it has begun the process of commissioning a full audit by a Big Four accounting firm, expanding its disclosures beyond periodic reserve attestations. On March 23, 2026, Celo reported more than 5 million weekly stablecoin users and 7.2 million+ stablecoin transactions last week, pointing to rising USDT utility. The move comes as a draft of the US Clarity Act sparks fresh concerns about potential restrictions on stablecoin yields and related rewards models.

Circle shares slid 20% on Tuesday as investors reacted to draft stablecoin legislation that could curb rewards tied to holding USDC. The move came alongside Tether's announcement that it has hired a Big Four accounting firm for its first full audit and claims that Circle froze USDC balances across 16 hot wallets.

Circle Internet Group's CRCL shares fell nearly 19% on March 24 as investors weighed concerns that proposed rules could restrict stablecoin yield and rewards. The stock moved from an intraday high near $127 to about $102 after rallying earlier in March from below $60 to above $130.

Bitcoin hovered around $70,000 on March 24, 2026 as global equities fell amid Iran war tensions. The asset recorded its longest run of negative correlation versus the S&P 500 since 2020, while U.S. spot Bitcoin ETFs logged $2.5B in monthly inflows and on-chain metrics suggested long-term holders were not distributing. Traders also watched $71,000–$71,500 as a potential breakout zone, with $68,500 cited as key downside support.

Bernstein analysts said bitcoin appears to have formed a cyclical bottom and reiterated an outperform rating on Strategy, projecting 226% upside from Monday's close of $138.20 to a $450 target. They argued STRC preferred shares are central to Strategy's capital model, helping it fund BTC purchases with non-dilutive, permanent capital as it continues to build its holdings.

Bitcoin (BTC) has climbed about 12% since the U.S.-Iran conflict began on February 28, 2026, trading near $71,144 as of March 24, 2026. Over the same period, gold (XAUT) is down 16% to roughly $4,420, while the S&P 500 (SPX) was off 4% from the conflict's start, at about 6,580.99 as of March 23, 2026.

NovaBay Pharmaceuticals said Monday it will rebrand as Stablecoin Development Corporation, and its shares climbed nearly 19% to $1.38 in the following session. The company said its ticker will switch from NBY to SDEV effective April 3, and disclosed holding two billion Sky (SKY) tokens as of March 16, plus 26.6 million SKY in cumulative staking rewards.

Strategy detailed new financing plans totaling up to $44.1 billion, including at-the-market sales of MSTR shares and two perpetual preferred stock offerings. The company said it has added nearly 90,000 BTC in the first three months of 2026 and now holds 762,099 BTC worth $54 billion.