$USDC Circle, issuer of USDC (USDC), the second largest stablecoin by market capitalization, is set to benefit from the law, as most of its revenue comes from the interest earned on the reserves backing USDC, which it co-founded in partnership with Coinbase in October 2018.

Following the rise in stocks, cryptocurrency trader Genco said that the market is "slowly discovering that Coinbase earns 50% of the revenue from CRCL generated by USDC [and] 100% of the USDC revenue on the Coinbase platform and an equity stake."