Key Takeaways
Tillis and Alsobrooks reached a May 4 deal to ban stablecoin rewards functioning like bank interest. Circle (CRCL) stock surged nearly 20% to $119.53 as the market reacted to the bipartisan CLARITY Act update. Regulators will now draft a new disclosure regime for Circle and others before a Senate markup in May 2026. Stock’s YTD Gains Hit 50%The rally continued into overnight trading, with the stock adding another $6.18—a gain of 5.21 percent—to reach $125.83. Before Monday’s surge, the stock had climbed from $91.27 amid optimism that the Senate would reach a bipartisan agreement on the wording. While the stock remains significantly below its March 18 peak of $132.84, the surge brought Circle’s year-to-date gains to just over 50 percent.
The groups added that they would provide suggestions to lawmakers in the coming days to strengthen the proposed language.
