Circle just suffered a heart-stopping 22% collapse in a single session, wiping out billions in market cap as Washington D.C. turns its sights on the stablecoin giant. Despite absolutely crushing earnings with a massive EPS beat, the market is in a full-blown panic over a legislative compromise that could strip away Circle’s biggest growth engine: the ability to pay out yields.

In this episode of Implied, we dive into the chaos surrounding the Digital Asset Market Clarity Act. Is this 20% drop a rational reaction to "headline risk," or is the market ignoring the fact that Circle just overtook Tether with a dominant 64% market share? We break down the insider selling, the bold expansion into Africa, and whether you’re looking at a terminal decline or a rare opportunity to buy ...