$USDC 🪧Circle stock exceeds $171 after Senate passes stablecoin law

The stock of Circle Internet Group, the issuer of the USDC stablecoin, rose by approximately 15% today, Wednesday, after the Senate approved the GENIUS Act, which provides a federal government framework for the use of stablecoins linked to the value of the US dollar.

Circle's stock price exceeded $171 in recent trading, after rising 14.77%, achieving a record increase of over 400% since the stock's initial offering on June 5, 2025, at a price of $31.

The approval of the stablecoin law has bolstered Circle, the issuer of USDC, the second largest stablecoin linked to the US dollar, after Tether's USDT.

The new legislation is expected to open the door for the use of stablecoins by banks, fintech companies, retailers, and others, and represents the first major legislation approved by Congress to address the cryptocurrency industry.

Senator Kirsten Gillibrand from New York stated that the law will enable American companies and consumers to benefit from the next generation of financial innovation, protect consumers, enable responsible innovation, and safeguard the dominance of the US dollar.#MyTradingStyle #GENIUSActPass #DAOBaseAIBinanceTGE #FOMCMeeting #FOMCMeeting