TLDR
- CRCL dropped 4.7% in pre-market trading, pulling back from Monday’s close of $97.42 to $92.81
- The Senate is set to vote on the Digital Asset Market Clarity Act at 2:15 PM ET, requiring 60 votes to pass
- Passage odds have fallen from above 80% earlier in 2026 to around 16-19%
- Goldman Sachs raised its price target on CRCL to $92 but kept a Neutral rating
- Ark Invest sold roughly $13.8 million worth of CRCL on Monday as the stock was still rallying
Circle Internet Group (CRCL) stock is dropping in pre-market trading Tuesday, reversing the gains it made just a day earlier. The stock fell 4.7%, moving from Monday’s close of $97.42 down to $92.81.
Monday’s rally was fueled by optimism after Senate Republicans released the final revised text of the Digital Asset Market Structure Clarity Act. That pushed CRCL up around 4% as investors bet on a regulatory breakthrough for digital assets, including stablecoins.
That optimism has cooled fast.
The Senate is scheduled to hold a cloture vote at 2:15 PM ET Tuesday on the Clarity Act. The procedural step requires 60 affirmative votes to move forward, and analysts say that bar is getting harder to clear.
Passage odds on Polymarket have dropped sharply, falling from above 80% earlier in 2026 to around 16-19% as of Tuesday. Three key issues remain unresolved: ethics provisions, DeFi developer liability, and a restriction on stablecoin yields.
Stablecoin Yield Provision Hits Close to Home
That last point matters a lot for Circle specifically. The company relies heavily on reserve income from its USDC stablecoin, so any restriction on yield could directly affect its business model.
Goldman Sachs added to the cautious tone, raising its price target on CRCL to $92 while holding a Neutral rating. That target sits at or below Tuesday’s pre-market price, giving investors little reason to see upside from current levels.
Coinbase (COIN) is also pulling back in pre-market trading, suggesting the pressure across crypto stocks is tied to the shared legislative risk rather than anything specific to either company.
The broader market is not helping either. The S&P 500 edged down 0.1%, the Dow Jones slipped 0.3%, and the Nasdaq fell 0.1% in Tuesday’s session.
Ark Invest Trimmed CRCL While It Was Rising
Meanwhile, Ark Invest disclosed it sold 142,350 CRCL stock across two funds on Monday, worth around $13.8 million at closing price. That sale came as the stock was up 7.53% on the day.
Ark also trimmed its Coinbase position, selling 36,628 COIN at a closing price of $191.45, worth roughly $7 million. The firm’s strategy limits any single holding to 10% of a fund’s portfolio, which routinely drives these trims when positions grow.
The firm also sold around $40 million worth of its ARK 21Shares Bitcoin ETF (ARKB), along with smaller positions in Bitmine and Bullish.
Adding to the macro backdrop, the FOMC rate decision is expected the following day. A quarter-point rate increase is anticipated, which could weigh further on stablecoin reserve income if it signals a tighter rate environment ahead.
All eyes are now on the 2:15 PM ET Senate vote, which will likely set the direction for CRCL and broader crypto stocks for the rest of the trading day.
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