Crypto-linked stocks slide after Senate stalls CLARITY Act; Circle, Coinbase fall about 10%

U.S. crypto-linked equities sold off after the Senate stalled the CLARITY Act, raising near-term regulatory uncertainty for exchanges, stablecoin issuers, and crypto-financial intermediaries. Circle and Coinbase reportedly fell about 10%, with miners and corporate crypto treasury names also weaker, indicating a broad de-risking move tied to policy risk rather than idiosyncratic fundamentals. Spillover to crypto beta may tighten financing and sentiment.