According to Mars Finance news on August 5, Cointelegraph reported that since the passage of the GENIUS stablecoin bill in July, the supply of yield-bearing stablecoins has surged. Data indicates that the biggest beneficiaries are Ethena's USDe and Sky's USDS, both of which can earn yields when staked in their respective protocols. According to DefiLlama data, since July 18, the circulating supply of USDe has increased by 70%, reaching $9.49 billion, making it the third largest by market cap among all stablecoins. During the same period, the circulating supply of USDS has risen by 23%, approaching $4.81 billion, ranking fourth by market cap. Anthony Yim, co-founder of analysis firm Artemis, stated: 'Although the GENIUS bill prohibits the issuance of yield-bearing stablecoins in the United States, the supply of such stablecoins has surged, making them the 'unexpected winners'.' Julio Moreno, head of research at CryptoQuant, said, 'It is precisely because the GENIUS bill prohibits issuers from directly providing yields to holders that investors have turned to yield-bearing stablecoins or staked stablecoins to earn returns.'