Coinbase, Circle Stocks Slide After Senate Draft Targets Stablecoin Yield

Here’s what investors need to know.Coinbase Global shares are retreating from recent levels. Why are COIN shares down?Industry Insiders View Draft As RestrictiveCoinDesk also reported that the language was viewed by industry insiders as restrictive and unclear, with activity-based rewards still potentially allowed but balance-based rewards effectively banned.That news helps explain weakness in both names because it strikes at one of the most attractive use cases for stablecoins: turning idle digital dollars ...