#CryptoStocks

Surge in Crypto Stocks Following GENIUS Act Passage

Circle Crypto (CRCL) has gained approximately 530% since its public debut on June 4, 2025, spurred by the recent Senate approval of the GENIUS Act, which aims to regulate dollar-backed cryptocurrencies. Circle CEO Jeremy Allaire emphasized the significance of this legislation as a potential catalyst for U.S. economic competitiveness.

The bill's passage also benefitted other crypto stocks, boosting Coinbase by 12% and Robinhood by 4%. Companies like GameStop and Meta Planet are pivoting towards Bitcoin accumulation, with GameStop investing $500 million in Bitcoin. Additionally, the Spanish coffee chain Vanadi Coffee plans a significant investment in Bitcoin to recover from losses, showing a broader trend among firms embracing cryptocurrency as a reserve asset. Rumors suggest more Web3 companies are considering IPOs, following the examples set by Coinbase and Circle.