Deep Tide TechFlow reports that on March 25, according to The Block, Circle's stock price dropped by approximately 20% on Tuesday, with market concerns about provisions in the draft of the US Clarity Act that restrict stablecoin yields. In response, Bernstein analysts believe there is market misinterpretation, emphasizing that the bill primarily targets distributors rather than issuers — Circle obtains reserve yields through investing in short-term US Treasury bonds and does not directly pay yields to token holders, therefore not subject to direct constraints of this provision. Bernstein maintains an outperform rating on Circle and Coinbase, with target prices of 190 dollars and 440 dollars respectively.