The cryptocurrency market reached a historic milestone as its total market capitalization surpassed $4 trillion for the first time. The development came after Congress passed a landmark bill, known as the Genius Act, which regulates stablecoins and other cryptocurrencies.
The passage of the bill led to a surge in crypto-related stocks, with Coinbase notching an all-time high and Robinhood’s shares rising by 4%. Bitcoin briefly shot past $120,000 according to data from Binance. However, traditional stock indices such as the S&P 500 remained largely unchanged.
President Trump signed the Genius Act into law on Friday, joking that it was named after him. The signing came despite a report suggesting that Trump’s tariff negotiations with the European Union may have weighed on the markets.
The Genius Act regulates stablecoins and other cryptocurrencies, and its passage is seen as a positive development for the crypto industry. However, the impact of the bill on the broader market remains to be seen.
Source: https://fortune.com/crypto/2025/07/18/stock-market-today-coinbase-bitcoin-sp-500-nasdaq-dow-jones