Circle shares took a beating Tuesday, falling 20% amid a flurry of developments, including draft legislative text that could limit USDC rewards, rival Tether moving toward greater transparency and a report that the company had frozen more than a dozen hot wallets. Mizuho analysts attributed the drop to news that the Clarity Act "could potentially ban yield payments for simply holding a stablecoin (e.g. passive balances) and restrict any approach that makes the program in any way equivalent to a bank deposit," they said in a note. Circle's shares (NASDAQ: CRCL) were trading for roughly $100 Tuesday afternoon, ... (full story)