Circle’s shares are on track to end the week higher by nearly 80%, with a 675% increase since its initial public offering in June. The surge is largely due to the Senate’s approval of the GENIUS Act, which aims to establish clear regulatory guidelines for stablecoins.
The bill has sparked excitement among investors, who see it as a potential game-changer for the industry. Stablecoins, pegged to the value of another asset like the US dollar, have attracted interest from big companies like Amazon and Walmart, who are exploring their use or issuance.
The GENIUS Act seeks to promote dollar dominance, improve transparency, and speed up settlement times, while also adding consumer protections and regulatory oversight. Its passage has led to a significant increase in Circle’s shares, with a 20% jump on Friday and a 33% rise on Wednesday. Coinbase shares have also benefited, climbing 4.5%.
Industry experts see the legislation as a crucial step towards wider adoption of bitcoin, crypto, and decentralized finance. The bill’s potential to “juice U.S. debt demand” is seen as a major advantage, with Alex Thorn, head of firmwide research at Galaxy Digital, stating that it would “meaningfully upgrade dollar payment rails.”
Source: https://www.cnbc.com/2025/06/20/circle-shares-extend-their-rally-after-senate-passes-landmark-stablecoin-bill.html