Bitcoin News
By Bruce Buterin
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What the CFTC and SEC Actually Did. On Thursday, the CFTC granted no-action relief to passive software providers.
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The CLARITY Act Selloff That Started It All. To understand the Friday rebound, you have to go back to September 15.
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Investor Confidence, For Now. The recovery in stock prices seems to say something about what investors actually want.
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Crypto stocks snapped back hard on Friday. The CFTC and SEC both pushed forward crypto-related actions, and the market basically forgot the pain of the previous session.
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Strategy led the pack, jumping over 13%. Coinbase and American Bitcoin each climbed about 11%, while Robinhood wasn't far behind at nearly 9%.
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On Thursday, the CFTC granted no-action relief to passive software providers. That's a meaningful move — it basically tells certain software operators they won't face enforcement…
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And then there's the CFTC's "prerule" filing. The agency sent a regulatory action covering the crypto market to the White House for review. Details? Pretty much none disclosed.
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But markets didn't wait for details. They saw two regulators moving, and they bought.
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To understand the Friday rebound, you have to go back to September 15. The Senate didn't advance the CLARITY Act, and the reaction was swift and ugly. Coinbase dropped about 10%.
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Related: CLARITY Act Faces Uncertain Future Amid Senate Ethics Battle and Trumps Crypto Earnings
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That kind of uncertainty tends to hit crypto-linked equities harder than it hits Bitcoin itself.
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The selloff was real. The fear was real. And then the regulators moved, and things shifted.
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The recovery in stock prices seems to say something about what investors actually want. It's not necessarily full legislative clarity — it's movement. Any movement.
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Strategy's 13% gain is the kind of move that gets attention. The company's exposure to Bitcoin means it tends to amplify the asset's swings, both up and down.
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Read also: CFTC Eases Broker Registration for Crypto Wallets, Unlocking Derivative Market Access
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