Crypto Stocks Rally as Clarity Act Gains Momentum; Circle Surges Nearly 20%
Crypto-related stocks climbed sharply on Monday, May 4, 2026, fueled by positive developments around the long-awaited Clarity Act in the U.S. Senate.
Strong Gains Across Crypto Stocks
Circle (USDC issuer): Rose 19.89% to close at $119.53
Coinbase Global: Up 6.14% to $202.99
Bitgo: Gained 10.26% to $11.50
Robinhood: Added 3.92%
SOL Strategies: Jumped 17.83%
The rally comes as Bitcoin also strengthened, crossing $80,000 and trading up 2.12% at $80,020. This positive movement in crypto assets stood in contrast to the broader U.S. stock market, which declined amid Middle East tensions.
Clarity Act Progress Drives Optimism
The surge was largely triggered by a bipartisan breakthrough on a major sticking point in the Clarity Act. On Friday, Senators Angela Alsobrooks (D-MD) and Thom Tillis (R-NC) finalized a compromise on stablecoin yield language.
The updated provision prohibits “covered parties” from paying interest or yield on stablecoins in ways that mimic bank deposits. However, it still allows activity-based or transaction-based rewards.
Banking Groups Remain Concerned
Major banking trade groups pushed back on Monday, stating the proposed fix “falls short” of fully protecting traditional bank deposits from potential outflows.
Despite the criticism, Senator Tillis defended the deal, calling it a “substantially improved, consensus-based product.”
“Our compromise prohibits stablecoin rewards from resembling interest on bank deposits, our core concern over deposit flight,” Tillis posted on X.
