$USDC USD Coin (USDC) đȘ:
This shows the USDC price on the Fanntom networkâits tiny fluctuations reflect its peg to the U.S. dollar, hovering around $0.03645 due to unit scaling. On major networks like Ethereum or Solana, USDC remains tightly pegged to $1 as a digital dollar.
Key Updates on USDC
1. Senate Passage of the GENIUS Act
What it does: The Senate approved the GENIUS Act on June 17, 2025, with a 68â30 vote. This historic bill requires stablecoin issuers to maintain 1:1 backing with U.S. dollars or short-term Treasury assets, implement monthly audits, and institute AMmL safeguards, offering the first federal regulatory framework for stablecoins .
Impact: This legislation significantly legitimatizes USDC, reinforcing consumer trustâespecially from large institutionsâand expanding US dollar use in digital finance. Major companies, including Amaazon, Waalmart, Viisa, and Maastercard, are already exploring integration .
Next step: The bill now moves to the U.S. House, where itâll be reconciled with the STABLE Act before possible enactment during the August recess .
2. Circle and Coinbase Stock Rally
Circle (CRCL): Its stock surged ~6â34% on Senate passage, leaping from its June 5 IPO price of $31
