GENIUS Act Boosts USDC, Coinbase, and Circle Stocks
- The Senate passed the GENIUS Act, positively impacting USDC and major crypto stocks.
- Coinbase stock jumped 16.32% after the announcement.
- The GENIUS Act aims to provide clear stablecoin regulations.
The U.S. Senate has approved the GENIUS Act, which aims to provide clearer regulations for stablecoins, notably USDC. This follows Circle’s IPO and aligns with expected market changes. Circle and Coinbase, both heavily involved in USDC issuance, have seen a significant stock rise following the Senate’s decision. These companies play a crucial role in the stablecoin market.
Investor Confidence Soars: Coinbase Up Over 16%
The GENIUS Act’s approval has led to increased investor confidence in stablecoins. Coinbase and Circle stocks surged notably in response to this legislation. With the regulatory clarification, the stablecoin market could see increased institutional inflows, potentially opening a $2 trillion market, according to market analysts.
The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS. Digital Assets are the future, and our Nation is going to own it. We are talking about MASSIVE Investment, and Big Innovation. The House will hopefully move LIGHTNING FAST, and pass a ‘clean’ GENIUS Act. Get it to my desk, ASAP — NO DELAYS, NO ADD ONS. — President Donald Trump, President of the United States, via Truth Social
Circle’s Growth Mirrors Coinbase 2021 IPO Surge
Comparatively, Circle’s IPO surge is reminiscent of the 2021 Coinbase IPO but with learned lessons shaping current market responses. Historical regulatory actions, such as the TerraUSD incident, have underscored the importance of robust stablecoin frameworks, making the GENIUS Act’s clarity crucial for future developments.
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