Why Is Circle (CRCL) Stock Down Today? CLARITY Act Draft and Wallet Freeze Spark 20% Plunge

Circle Internet Group (CRCL) shares cratered on March 24, 2026, dropping 20.11% to close at $101.17. The sharp sell-off effectively wiped out a significant portion of the gains from its massive March rally. The decline was triggered by a perfect storm of leaked legislative drafts targeting stablecoin yield and a controversial on-chain freezing incident that reignited fears over centralization.