Circle (CRCL) stock price plunged nearly 20% due to the draft of the CLARITY Act, which proposes restrictions on stablecoin passive yields. The bill aims to prevent stablecoin issuers from offering interest similar to bank deposits, potentially affecting Circle's profit model and market competitiveness. Analysts point out that the current decline may be an overreaction by the market, with USDC circulation still growing, and the bill still in the negotiation stage with uncertain outcomes.
Prediction market platform Polymarket announced it will extend its fee mechanism to all crypto market time frames and launch a daily USDC rebate mechanism for liquidity providers. The new floating fee design reaches a maximum of 1.56%. This move marks a shift in the platform's business model and could reshape the competitive landscape, enhancing the importance of artificial market makers.