Circle stock surges 19% as Senate approves bill for stablecoins, optimistic for future growth.

From Yahoo Finance: 2025-06-18 12:14:00

Circle (CRCL) stock surged 19% as the Senate passed a bill creating a federal framework for stablecoins. Circle shares have skyrocketed 400% since their blockbuster IPO in June, with hopes for further growth. The GENIUS Act aims to regulate US companies issuing dollar-backed stablecoins, propelling the crypto industry forward.

Circle’s CEO Jeremy Allaire hailed the bill’s passage as historic, anticipating significant economic and competitive benefits for the US. The legislation must still clear the House and gain President Trump’s signature. Analysts predict positive outcomes as the bill aims to bring stablecoin innovation back to the US, driving mainstream adoption for payments beyond crypto settlements.

The bill’s approval boosted shares of Coinbase (COIN) by 12% and Robinhood (HOOD) by 4%, reflecting market optimism. Bernstein analysts predict the legislation could become law by the end of summer, increasing stability and growth in the crypto sector. The bill defines stablecoins as payment tools, encouraging broader adoption for various transactions.

Read more: Circle stock soars on stablecoin bill passage: ‘History is being made’