The increased confidence in the passage of the GENIUS Act has led to significant growth in shares of Circle Internet Group amid rising interest from crypto investors.
Senate Vote and Trump's Backing
On the prediction platform Polymarket, there is an increasing interest in the passage of the GENIUS Act, a bill regulating stablecoins, with an 89% likelihood of its passage by 2026. This expectation followed the Senate's vote, where the bill was approved with a 68–30 margin. President Donald Trump has actively backed the bill, calling on Congress to approve it without changes. Observations indicate that betting interest rose less than 24 hours after the Senate vote.
Potential Effects on Tech and Finance
If passed, the GENIUS Act could radically change the approach to digital assets in the US. The bill will create clear frameworks for issuing and using fiat-backed digital assets. Its success may pave the way for major companies such as Apple and Google to adopt stablecoins more widely. Senators have already inquired whether Meta might revive its stablecoin ambitions if the regulatory path becomes clear.
Circle's Stock Success and IPO
Shares of Circle Internet Group have dramatically surged since their IPO, rising by 530%. This company, known for issuing USD Coin, has recently attracted considerable investor interest. The shares closed at $199.59, with a sharp increase following the Senate vote. Analysts observe that Circle's success may set the stage for other crypto companies looking to go public.
The rising interest in the GENIUS Act and Circle's successful stock launch indicate a strong momentum in the cryptocurrency sector. These changes may lead to significant repercussions not only for the digital assets market but for the broader financial system.
