CLARITY Act Vote Sends Crypto Stocks into Free Fall

A US Senate vote on the CLARITY Act is causing uncertainty in the crypto market, affecting stocks like Robinhood and Webull.

The legislation aims to establish a clearer regulatory framework for digital assets. If passed, it could reshape the trading landscape for platforms that have invested heavily in cryptocurrencies.

Roninhood Markets stock has fallen 4% to $110.30, while Webull Corporation is also down 4% to $8.69. Interactive Brokers has declined 3% to $88.29.

Crypto assets are under pressure as well, with Bitcoin down 3% to $76,372.44 and the iShares Bitcoin Trust ETF falling 3% to $43.22.