Circle Internet shares surged on Wednesday amidst “crypto week” developments and pressure on the Federal Reserve. The stock jumped 17.1%, potentially reflecting anticipation of interest rate hikes. The Trump administration is reportedly considering firing Fed chairman Jerome Powell, leading to speculation and market volatility. Circle Internet closely monitors interest rate adjustments as its revenue is tied to interest earned on cash reserves. The company holds $63.3 billion in USDC reserves, making it sensitive to interest rate changes. Investors are watching political developments closely for regulatory clarity in the crypto market. Circle Internet’s upcoming financial report on August 12 will provide insight into its performance as a public company.

Read more at Nasdaq.: Why Circle Internet Stock Jumped 17% Today