Crypto stocks rebound as CFTC and SEC advance crypto actions

Crypto-linked stocks rebounded sharply on Friday. Strategy rose more than 13%. Coinbase climbed about 11%. American Bitcoin climbed about 11%. Robinhood gained nearly 9%, according to Yahoo Finance data. Circle gained between about 5% and 7%. Strive gained between about 5% and 7%. Riot Platforms gained between about 5% and 7%. Bitcoin climbed about 5% over the past 24 hours to around $80,800, according to CoinGecko. The stocks had fallen after the Senate failed to advance the CLARITY Act on Sept. 15. Coinbase and Circle dropped about 10% after the vote. Strategy and Strive fell about 5%. American Bitcoin declined roughly 8%. The CFTC provided no-action relief to passive software providers. The SEC temporarily eased requirements for certain platforms facilitating onchain trading of tokenized securities. The CFTC submitted a crypto market regulatory action for White House review. The prerule filing did not disclose details of the planned regulation.