The approval of the GENIUS Act in the US has led to a significant increase in Circle's stock price, driving growing interest in the USDC stablecoin.
Stock Surge and GENIUS Act Impact
Circle Internet Group, Inc. (NYSE: CRCL) saw a significant increase in its stock price following the US Senate's approval of the GENIUS Act. This legislation is regarded as favorable for stablecoin regulation, reducing uncertainty in the digital asset sector. Following the act's passage, Circle's stock rose by 34%, closing at $240.28.
Circle's Financial Results and USDC Expansion
Circle's financial performance is also impressive: for Q1 2025, the company reported a 59% increase in revenue and a 75% rise in net income. The expansion of USDC has also been noted in a recent integration with Shopify, highlighting the growing utility of cryptocurrencies in payments.
Outlook and Stablecoin Market
According to Circle's valuation, its market cap is approximately $30 billion, reflecting strong investor confidence. Circle's CEO expressed optimism regarding the company's future performance, stating, 'We've just begun.' The GENIUS Act is anticipated to set a precedent for future stablecoin regulations.
In conclusion, the approval of the GENIUS Act creates a positive environment for growth and investment in sustainable digital assets like USDC, and promotes their further development in the market.
