What to know : Circle shares fell as much as 18%, and Coinbase dropped about 8%, after a draft of the U.S. Clarity Act raised the prospect of strict limits on stablecoin yield. The proposed legislation would bar rewards on passive stablecoin balances and ban structures "economically equivalent to interest," threatening a key incentive...
A down day in crypto became slightly less so in the minutes since U.S. stocks closed for the session.
According to Israeli Channel 12, a one-month ceasefire could soon be announced as part of a package being negotiated by White House envoys Steve Witkoff and Jared Kushner.
Other terms of the deal reportedly include a dismantling of Iran's existing nuclear capabilities and that country's vow to "never seek" nuclear weapons.
The news was felt most immediately in the oil market, with Brent Crude dropping from $104 to below $100 in a few minutes.
Trading down throughout the day and sitting near $69,000, bitcoin quickly popped back to $70,000.
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