🚀 Key USDC News from June 19, 2025
1. U.S. Senate Passes the GENIUS Act — Huge for USDC
The U.S. Senate approved the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) on June 17 with strong bipartisan support (68–30) .
This landmark bill establishes a federal regulatory framework requiring full reserve backing, monthly disclosure of assets, and joint oversight by the Federal Reserve and OCC .
It now proceeds to the House, with supporters aiming for final passage before the August recess .
2. Market Reacts — Circle & Coinbase Rally
Circle’s stock (CRCL) surged 34%, briefly hitting around $200, after the Senate vote .
Earlier reporting noted a 16% jump in Circle shares on the same news .
Coinbase (COIN) also climbed significantly, as its derivatives arm prepares to allow USDC as collateral in U.S. futures trading .
3. Ushering in USDC for Futures Collateral
Coinbase struck a deal with Nodal Clear to permit traders to use USDC as collateral in U.S. crypto-linked futures, pending CFTC approval .
This would mark a major step: stablecoins like USDC being accepted in regulated derivatives markets.
4. Circle Mints Additional USDC
On June 18, Circle minted roughly $250 million in new USDC on the Solana blockchain, reflecting growing demand for stablecoin liquidity.
