Circle stock rises 34% to $200 record high after GENIUS Act passage, now up 500% from IPO

Circle’s stock surged 34% on June 18 to close at $199.59 after the GENIUS Act cleared the Senate. According to Yahoo Financing information, the stock briefly touched an all-time high of $200.90 before closing at $199.59. The relocation marked a nearly 6.5-fold increase…

Circle’s stock surged 34% on June 18 to close at $199.59 after the GENIUS Act cleared the Senate. The sharp rally came simply after the U.S. Senate passed the Guiding and Establishing National Development for U.S. Stablecoins Act, a bill that would establish a detailed federal structure for controlling dollar-backed stablecoins such as Circle’s USD Coin (USDC). The Act improves Circle’s standing as a leading U.S. company with institutional-grade practices, as it already complies with stringent reserve openness and compliance requirements.