Key Metrics
16.83
Heat Index-
Impact LevelMedium
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Scope LevelNational
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Last Update2025-08-13
Key Impacts
Positive Impacts (5)
Negative Impacts (2)
Event Overview
This event highlights the intersection of cryptocurrency regulation and market dynamics, where legislative action directly impacts corporate valuation. The passage of the GENIUS Act establishes a national framework for stablecoin oversight, triggering investor optimism about regulatory clarity and future growth prospects in the digital asset sector.
Collect Records
Circle Shares Surge After Senate Passes Landmark Stablecoin Bill
Shares of Circle Internet Group Inc. (Circle) continued their rally, rising more than 20% on Friday, following the U.S. Senate's approval of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins). The bill, passed on Tuesday, June 18, 2025, aims to establish a regulatory framework for stablecoins, cryptocurrencies pegged to assets like the U.S. dollar. The stock had already surged 33% on Wednesday, June 19, after the news broke, and the market was closed on Thursday for the Juneteenth holiday. Circle's shares have skyrocketed approximately 675% since its initial public offering (IPO) on June 5, 2025, and the company is on track to end the week nearly 80% higher. Coinbase, which earns revenue from interest on Circle's USDC reserves, also saw its shares climb 4.5%.
The GENIUS Act is designed to modernize dollar payment systems by improving settlement times, transparency, and promoting the dominance of the U.S. dollar globally. It includes provisions for consumer protections, collateral requirements, and regulatory oversight. Alex Thorn, head of firmwide research at Galaxy Digital, highlighted the bill's potential to integrate traditional finance with public blockchains through stablecoins. Meanwhile, the House of Representatives is working on its own stablecoin legislation, the STABLE Act.
Stablecoins like USDC, the second-largest stablecoin by market share, are gaining traction among banks and payment firms as the Trump administration rolls back previous crypto policies. Major companies such as Amazon, Walmart, Uber, Apple, and Airbnb are reportedly exploring the use or issuance of stablecoins. The regulatory clarity provided by the GENIUS Act has fueled investor optimism, contributing to Circle's stock rally. Seaport Global also issued Circle its first buy rating, further boosting market confidence.