JB Hunt Falls, Crypto Stocks Slide After Bill Fails; SpaceX Rallies

Bullish Gator

JB Hunt warns of lower quarterly earnings; crypto stocks tumble after Senate blocks digital-asset bill, sending Bitcoin down. SpaceX rallies after Cathie Wood calls it a potential deep-value play.

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What stands out

A 49-50 Senate roll call killed the much-anticipated digital-asset market structure bill, and markets punished crypto names immediately. Coinbase shares plunged, extending declines as lawmakers balked at giving the Commodity Futures Trading Commission (CFTC) primary oversight, and Bitcoin slid below $75,000. The episode matters because it shows how fast policy risk can erase gains for exchange operators; Coinbase still posts strong operational momentum, with average revenue growth of 39.3% year-over-year and average net-income growth of 821.3%, so the selloff looks driven more by headlines than by a sudden deterioration in fundamentals.