Circle Shares Drop 4.7% Ahead of Senate Vote on Crypto Legislation
Circle Internet shares fell by 4.7% in premarket trading ahead of a scheduled U.S. Senate procedural vote on the Digital Asset Market Clarity Act, which aims to establish regulatory clarity for digital assets and stablecoins. The proposed legislation has been revised but still faces disagreements over ethics provisions, liability for DeFi developers, and restrictions on stablecoin yields—issues particularly relevant to Circle due to its reliance on reserve income. Prediction-market odds of the bill passing have dropped significantly from above 80% earlier in 2026 to around 16%, reflecting uncertainty among investors. Goldman Sachs raised its price target for Circle to $92 while maintaining a Neutral rating, slightly below its current premarket trading level. Other crypto-related stocks also declined as the broader market remained cautious ahead of both the Senate vote and an expected Federal Reserve rate hike.
Tickers: $CRCL
Topics: crypto_legislation price_target_change senate_vote stablecoins