Why Circle Internet Stock Skyrocketed Up 33.9% Today
Shares of Circle Internet Group (NYSE: CRCL) soared today, finishing the day up 33.9%. The spike came as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were relatively flat.The U.S. Senate passed the GENIUS Act, a landmark bill that would create a federal regulatory framework for stablecoins like Circle's USDC.While the bill still needs to clear the House of Representatives, the passage of the GENIUS Act through the Senate marks a major step toward integrating stablecoins into the American financial system. The bill allows banks, fintech firms, and retailers to legally issue and use stablecoins, while also establishing consumer protections and regulatory oversight.Continue reading
Shares of Circle Internet Group (NYSE: CRCL) soared today, finishing the day up 33.9%. The spike came as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were relatively flat.
The U.S. Senate passed the GENIUS Act, a landmark bill that would create a federal regulatory framework for stablecoins like Circle's USDC.
While the bill still needs to clear the House of Representatives, the passage of the GENIUS Act through the Senate marks a major step toward integrating stablecoins into the American financial system. The bill allows banks, fintech firms, and retailers to legally issue and use stablecoins, while also establishing consumer protections and regulatory oversight.
