Shares of Circle (CRCL, Financials) surged 53% this week after the U.S. Senate passed the GENIUS Act; the first major federal legislation to regulate stablecoins. The bill outlines full reserve requirements; monthly audits; and anti-money laundering rules—providing long-awaited clarity to the $150 billion stablecoin market.
The rally pushed Circle stock from $148 to $227; just weeks after its NYSE debut. Backed by rising momentum, Coinbase (COIN, Financials) also gained 20% since Wednesday.
Circle CEO Jeremy Allaire called the bill's passage “history in the making”; praising it as a leap forward for U.S. competitiveness in digital finance. The GENIUS Act, now headed to the House, has been championed by President Donald Trump—who's pushed crypto-friendly policies, ended enforcement actions, and even launched a national Bitcoin reserve.
With Washington warming up to crypto, major tech firms like Meta, Google, Airbnb, and X are said to be exploring stablecoin integration—fueling speculation that mainstream adoption may not be far off.
