Shares of Circle Internet surged ~16% after the U.S. Senate passed the GENIUS Act—establishing solid reserve and disclosure rules for stablecoins. The bill marks a major step toward mainstream adoption and increased legitimacy of stablecoins like USDC.
Despite the Fed signaling a pause on rate hikes, Bitcoin remained resilient above $104K, though altcoins traded mixed. Analysts say macro caution is limiting broad-based crypto rallies this week.
3. 
Iran Crypto Exchange Nobitex Hit by $90M “Burn” Hack
Nobitex, a major Iranian exchange, was the target of a cyberattack—reportedly conducted by the Iran-linked “Predatory Sparrow” group—resulting in $90 million in tokens being stolen and rendered unspendable.
The stablecoin sector achieved a new milestone with a market cap of $251.7 billion—up 22% YTD—driven by confidence from the Senate’s regulatory approval. This reflects increasing integration of stablecoins into financial systems.
