From Nasdaq

June 19, 2025 3:26:00 pm:

On June 18, Coinbase Global (NASDAQ: COIN) saw a 16% surge in its stock as the U.S. Senate passed the GENIUS Act in a 68 to 30 vote, establishing a federal regulatory framework for stablecoin issuance, benefiting Coinbase’s future success.

The GENIUS Act is significant for Coinbase as it allows non-banks to issue stablecoins, ensuring the continuous flow of revenue from USDC, which accounted for over 15% of Coinbase’s total net revenue last quarter, growing at a rate of 51%.

House deliberation on the GENIUS Act and its reconciliation with the STABLE Act could impact Coinbase’s future, as STABLE imposes greater restrictions on non-bank issuers, potentially affecting competition and demand for Coinbase’s offerings.

The passing of the GENIUS Act and the positive outlook for the stablecoin market positions Coinbase favorably for growth, with analysts predicting the market to reach between $500 billion and $3.7 trillion by 2030, potentially leading to a significant bull run for Coinbase’s stock.

Read more at Nasdaq: Coinbase Stock Pops as Senate Passes GENIUS Stablecoin Bill