Circle, Coinbase lead crypto stock rally as U.S. Clarity Act advances

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Ciaran Ryan

04.05.2026

Circle, Coinbase lead crypto stock rally as U.S. Clarity Act advances — Crypto stocks surge on clarity

Crypto-related stocks rally on Monday as bitcoin climbs above $80,000 and signs of movement on U.S. digital asset legislation improve sentiment across the sector. The gains center on companies seen as potential beneficiaries of clearer stablecoin and crypto market rules, with Circle and Coinbase among the strongest movers.

Highlights

Investor optimism lifts crypto stocks after a Digital Asset Market Clarity Act compromise addresses stablecoin yield, raising Polymarket passage odds to 64%.
Circle surges 18%, Coinbase gains 7%, and BitGo rises 10% as Bitcoin trades above $80,000, outperforming the CoinDesk 20 Index's 1.2% advance.
Circle's upcoming earnings next week and a 100% post-earnings rally in February suggest investors are positioning for another strong move.

Legislation progress lifts sector sentiment

As reported by CoinDesk, investor optimism strengthens after a newly released compromise in the Digital Asset Market Clarity Act addresses the treatment of stablecoin yield, one of the bill's most contested issues. The Friday text would bar stablecoin issuers from offering yield on idle balances while still allowing rewards tied to usage and transaction activity, a step that aligns with earlier discussions in Washington.

Markus Thielen, founder of 10x Research, says the clarification appears to remove one of the final obstacles to the legislation. He says lawmakers are expected to move toward a formal markup, potentially as soon as this week, while odds of passage on prediction platform Polymarket rise to 64%.

Thielen says equity markets are beginning to price in potential winners from the bill's advance. He points to Circle as a likely beneficiary if stablecoins are more clearly defined as payment tools rather than yield-bearing assets.

Bitcoin breakout supports crypto equities

Circle, issuer of the USDC stablecoin, jumps 18%, extending recent gains, while U.S.-focused exchange Coinbase rises about 7%. BitGo gains roughly 10%, and Strategy, Robinhood and Ethereum treasury firm Bitmine are also up 3% to 4%, showing the breadth of the move across crypto-linked equities.

Bitcoin trades above $80,000 during the session, reaching its strongest level since late January and providing an added tailwind for the group. The token advances nearly 2% over 24 hours, outpacing the CoinDesk 20 Index's 1.2% gain.

Circle's upcoming earnings, due next week, add another layer of momentum for the stock, Thielen says. After the company's previous quarterly report in February, its shares rose about 100% in the following weeks, suggesting investors may already be positioning for another strong reaction.

In our earlier coverage of the SEC’s delay of prediction-market ETFs, we explained that regulators paused multiple proposed launches to scrutinize how event-driven products work and what risks they could pose to investors. We also noted the broader tug-of-war in Washington and across the states over oversight of prediction markets, even as platforms like Polymarket and Kalshi continued to post strong trading volumes.

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