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Trump's Support for the GENIUS Act Lifts Bitcoin, Crypto Stocks After Minor Hiccup
By Andrew Kessel
Published July 16, 2025
01:14 PM EDT

President Donald Trump expects the House to clear the Genius Act.
Anna Moneymaker / Staff / Getty Images
Key Takeaways
President Donald Trump said he expects the GENIUS Act to clear a key procedural hurdle Wednesday after the stablecoin bill ran into resistance a day earlier.
The price of Bitcoin climbed above $119,000, and shares of crypto companies like Circle and Coinbase improved in recent trading.
Trump said on Truth Social he convinced Republicans who voted with Democrats in blocking the bill to reverse their position.
The GENIUS Act would create a framework for private companies to issue stablecoins, a type of crypto asset with its value tied to a traditional currency or other financial asset such as the U.S. dollar.
Trade
Trump's Support for the GENIUS Act Lifts Bitcoin, Crypto Stocks After Minor Hiccup
By Andrew Kessel
Published July 16, 2025
01:14 PM EDT

President Donald Trump expects the House to clear the Genius Act.
Anna Moneymaker / Staff / Getty Images
Key Takeaways
President Donald Trump said he expects the GENIUS Act to clear a key procedural hurdle Wednesday after the stablecoin bill ran into resistance a day earlier.
The price of Bitcoin climbed above $119,000, and shares of crypto companies like Circle and Coinbase improved in recent trading.
Trump said on Truth Social he convinced Republicans who voted with Democrats in blocking the bill to reverse their position.
The GENIUS Act would create a framework for private companies to issue stablecoins, a type of crypto asset with its value tied to a traditional currency or other financial asset such as the U.S. dollar.
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