Clarity Act's Senate Snub Triggers Crypto Sell-Off

The Clarity Act, aimed at establishing a comprehensive crypto market-structure framework, failed to clear a critical Senate procedural vote on Tuesday.

This left the industry without clearer U.S. market-structure rules investors had expected, leading to a sell-off in the afternoon session.

Bitcoin fell 3%, while Coinbase and Circle shares slid 8% and 10%, respectively.

Roger Jessurun, an analyst at Scotiabank, initiated coverage of Robinhood with an Outperform rating and a $136 price target, highlighting stable revenue lines across net interest, subscriptions, and international crypto.