Bitcoin and Ethereum traded in narrow ranges as markets weighed Middle East headlines, while meme coins drew more speculative flow. Shiba Inu gained 7.12% and Dogwifhat rose 10.35%, and Maxi Doge (MAXI) said its presale has raised more than $4.7 million. MAXI was priced at $0.000281, with the next presale price step scheduled for tonight.

Circle Internet Financial shares (CRCL) fell 22% on Tuesday to $98 after reports said a revised Senate Banking Committee draft of the CLARITY Act would restrict stablecoin-related rewards. The text would bar platforms from offering yield "directly or indirectly" for holding stablecoins or assets treated like bank deposits, potentially affecting business models tied to interest on reserves.

Tether says it has begun the process of commissioning a full audit by a Big Four accounting firm, expanding its disclosures beyond periodic reserve attestations. On March 23, 2026, Celo reported more than 5 million weekly stablecoin users and 7.2 million+ stablecoin transactions last week, pointing to rising USDT utility. The move comes as a draft of the US Clarity Act sparks fresh concerns about potential restrictions on stablecoin yields and related rewards models.

Tether has taken a strategic stake in AI sleep-tech firm Eight Sleep at a $1.5 billion post-money valuation, positioning the deal as more than a passive investment. The move draws on Tether's reported 2024 profit of over $13 billion and its $6.3 billion in excess reserves, which it has been deploying across multiple venture divisions.

Circle shares slid 20% on Tuesday as investors reacted to draft stablecoin legislation that could curb rewards tied to holding USDC. The move came alongside Tether's announcement that it has hired a Big Four accounting firm for its first full audit and claims that Circle froze USDC balances across 16 hot wallets.

Circle Internet Group's CRCL shares fell nearly 19% on March 24 as investors weighed concerns that proposed rules could restrict stablecoin yield and rewards. The stock moved from an intraday high near $127 to about $102 after rallying earlier in March from below $60 to above $130.

Bitcoin spot ETFs started the week back in positive territory, posting a $167.23 million net inflow after three straight days of redemptions. IBIT led with $160.81 million and FBTC added $41.70 million, while ether ETFs logged a fourth consecutive outflow day of $16.18 million and XRP and Solana ETF segments showed zero flows.

Bernstein analysts said bitcoin appears to have formed a cyclical bottom and reiterated an outperform rating on Strategy, projecting 226% upside from Monday's close of $138.20 to a $450 target. They argued STRC preferred shares are central to Strategy's capital model, helping it fund BTC purchases with non-dilutive, permanent capital as it continues to build its holdings.