Crcl stock price plummeted by 20%, for two reasons: 1. The proposed *Clarity Act* restricts stablecoin yields, prohibiting stablecoin issuers from paying yields to users; 2. Tether, with a scale exceeding $180 billion, hired one of the Big Four firms to audit USDT for the first time. The gradual legitimization of USDT poses a significant impact on the $78 billion USDC. CRCL