Circle Stock Rally Hits 540% After Senate Passes Historic Crypto Costs

Circle stock (NYSE: CRCL) skyrocketed to unprecedented heights today, closing at $199.59 with an additional spike to $211.87 in after-hours trading; a spectacular 540% gain since its June 5 IPO. According to reports, the rally was catalyzed by the U.S. Senate’s passage of the GENIUS Act, an expense developing a regulatory framework for fiat-backed stablecoins like Circle’s USDC.

Senate Development Ignites Market Momentum

Wednesday’s session saw Circle stock surge 34%, driven by growing self-confidence that the U.S. government is prepared to treat stablecoins as legitimate digital money equivalents. With Circle’s USDC currently 2nd only to USDT in terms of market share, experts say regulated clearness might tilt the balance in Circle’s favor, especially in payments, remittances, and institutional adoption. Circle stock skyrocketed due to the Senate’s passage of the GENIUS Act, which details a regulated structure for stablecoins, preferring Circle’s certified approach.