Thursday, 19 June, 2025

Coinbase and Circle Stocks Surge as Senate Clears Way for Stablecoin Regulation

Shares of Coinbase jumped approximately 16% to about $297, while Circle soared around 34%, following the U.S. Senate’s approval of the bipartisan GENIUS Act. The legislation establishes a federal regulatory framework for dollar-pegged stablecoins, mandating reserve backing, audits, and consumer protection. Coinbase, a USDC co-founder, benefits from 50% of Circle’s reserve-generated revenue. Circle, now publicly traded, has surged post-IPO reflecting increased confidence in crypto infrastructure.