COIN Stock Jumps, XRP Leads Crypto Majors After Scott Bessent Signals CLARITY Act Is On Senate’s ‘One-Yard Line’

Bitcoin climbed above $66,000 for the first time since mid-June, while XRP outperformed the broader crypto market.

• U.S. Treasury Secretary Scott Bessent’s comments lifted sentiment across crypto-linked stocks, with Circle, Strategy, and Bitmine also posting strong gains.
• Retail sentiment around Coinbase turned ‘bullish’ on Stocktwits, with message volume rising more than 350% in the past 24 hours.
• Despite Tuesday's rally, Coinbase, Circle, and Bitcoin remain well below their levels at the start of the year.

Shares of Coinbase (COIN) jumped in morning trade on Tuesday after U.S. Treasury Secretary Scott Bessent said in an interview that the Digital Asset Market Clarity Act (CLARITY) is on the ‘one-yard line’ for passage in the Senate. 

COIN’s stock rocketed over 11% in morning trade and was among the top trending tickers on Stockwits at the time of writing. The uptick was the largest single-day gain for the stock since March. 

"I think we are on the 1-yard line on the CLARITY Act in the Senate,” Bessent said in an interview with Fox Business. He also added that the Trump administration has plans to scrutinize open-source AI models to check for evidence of intellectual property theft.

Crypto-Linked Stocks Rally Alongside Bitcoin