CLARITY Act optimism lifts crypto stocks MSTR and Coinbase over 12%

Cryptocurrency stocks surged on Wednesday, with new CLARITY Act confidence and U.S. Treasury liquidity news driving the market, as Strategy Inc. and Coinbase rallied sharply higher.

What's driving the gains?

Clear Street analyst Owen Lau told CoinDesk that two catalysts fueled the rally. First, investors are rotating capital into crypto-related stocks after strong gains in AI stocks.

Second, fresh optimism over the CLARITY Act's passage in September has brought meaningful buying pressure to the sector.

Macro conditions added momentum.

The U.S. Treasury announced it will double its long-duration bond buyback operations starting September 9, which pushed yields lower, lifting Bitcoin 6%, Ethereum 10%, Solana 7%, and XRP 8% on the day.

Crypto stocks followed suit, with Bitmine and Bullish up 13%. Meanwhile, Circle rose nearly 12% on the day.

Senator's take on the CLARITY Act

Speaking at the SALT conference in Jackson Hole on Tuesday, Senate Banking Committee Chairman Tim Scott said the CLARITY Act has a "very good chance" of advancing in September.

"There's no doubt this will become law," Scott said. "The only question is how we get it across the finish line," he added.

Patrick Witt, executive director of the White House Digital Asset Advisory Council, told the conference that negotiations have narrowed to a binary choice between two options, a setup that typically signals a deal is imminent.

The Senate procedural vote remains scheduled for September 15.

The remaining sticking point is an ethics provision related to President Donald Trump's family crypto interests.

Senators Ruben Gallego and Tom Tillis submitted a proposal to the White House on the matter, but the administration has not yet responded publicly.

Why the CLARITY Act matters for these stocks

Passage of the bill would establish clearer, more durable rules for how the U.S. regulates digital assets and trading platforms, rules that would be harder for future administrations to overturn.

For companies like Coinbase and Bullish, it would remove the regulatory uncertainty that has weighed on valuations for years.

Trader's note: MSTR is testing the $105 resistance level for the fourth time in two months, after breaking above its 20-day and 50-day exponential moving averages in a single session. The previous three attempts at $105 failed. A daily close above this level would open upside toward $122 near the 100-day EMA.