USDC Issuer Circle’s Stock Soars 530% After GENIUS Act Approval, Signaling Strong Crypto Market Momentum

Circle's stock (CRCL) surged to $199.59 at Wednesday's close, a staggering 530% increase from its $31 IPO price on June 5. The rally continued with an additional 6% gain in after-hours trading following the U.S. Senate's passage of the GENIUS Act, which establishes federal oversight for stablecoins including Circle's USDC.

Political support accelerated when former President TRUMP endorsed the legislation, calling for swift House approval. This market response underscores growing institutional confidence in regulated digital assets, with USDC now representing 25% of the global stablecoin supply.

This historic performance sets a bullish precedent for upcoming crypto IPOs, including anticipated listings from Kraken and Gemini. Financial institutions and tech giants are increasingly focusing on the stablecoin sector, where Circle's market leadership positions it as a key indicator for the broader digital asset economy.