CRCL Rocket Ride: Circle Stock Surges 34% as Senate Rewrites Stablecoin Rules

Washington just handed crypto its biggest regulatory win yet—and Circle’s shareholders are cashing in.

The stablecoin issuer’s stock (CRCL) exploded 34% after senators finally passed landmark legislation. No more regulatory limbo—just pure price action.

Wall Street’s playing catch-up…again

While TradFi analysts were busy downgrading Coinbase, the Senate quietly greenlit the framework that’ll define dollar-pegged tokens for the next decade. The market’s verdict? A $9 billion valuation for Circle—and counting.

‘Stable’ never looked so volatile

Irony alert: The assets designed to minimize price swings are creating the wildest equity moves. CRCL’s chart looks more like a memecoin than a fintech blue chip—complete with 10% intraday whipsaws.

One cynical take: Maybe Congress should’ve moved slower—at this rate, Circle will IPO before banks finish their compliance paperwork.

TLDR

• Circle stock surged 34% to close at $199.59 after the U.S. Senate passed the GENIUS Act with a 68-30 vote
• The stock briefly touched an all-time high of $200.90, marking a 500% gain from its $31 IPO price two weeks earlier
• The GENIUS Act establishes federal framework for regulating dollar-backed stablecoins like Circle’s USDC
• Other crypto-related stocks also rallied, with Coinbase up 14% and Robinhood hitting new highs at $78.35
• The bill now heads to the House of Representatives, with supporters hoping for passage before August recess

Circle Internet Group stock exploded higher on June 18, closing at $199.59 after jumping 34% in a single trading session. The MOVE came as investors celebrated the Senate’s passage of the GENIUS Act, a landmark stablecoin regulation bill.

The stock briefly hit an all-time high of $200.90 during the session. This represents a stunning 500% gain from Circle’s initial public offering price of $31 set just two weeks earlier on June 5.

The rally was triggered by the U.S. Senate’s passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act. The bill cleared the Senate with a decisive 68-30 vote on June 17.

Circle CEO Jeremy Allaire didn’t hold back his excitement. “History is being made, as the US Senate passes the GENIUS Act,” he posted on X following the vote.

History is being made, as the US Senate passes the GENIUS Act, taking us one step closer to breakthrough legislation being signed into law that will drive US economic and national competitiveness for decades to come.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 17, 2025

The legislation creates the first comprehensive federal framework for regulating dollar-backed stablecoins. This includes Circle’s primary product, USD Coin (USDC), which is widely used in decentralized finance and payment systems.

Regulatory Framework Takes Shape

The GENIUS Act establishes federal licensing requirements for stablecoin issuers. It mandates that tokens must be completely backed by dollar reserves, including cash or Treasury securities.

The Federal Reserve and Office of the Comptroller of the Currency will gain oversight powers under the new framework. The bill also aims to improve technical interoperability among blockchain platforms.

Consumer protection guidelines will be standardized across the industry. While some states like New York already regulate stablecoins through programs like BitLicense, the GENIUS Act brings everything under one national standard.

Circle appears well-positioned to benefit from these new rules. The company already complies with strict reserve transparency and compliance standards that align with the proposed regulations.

Broader Market Impact

The stablecoin bill’s passage lifted other crypto-related stocks as well. Coinbase shares jumped 14% on the news, while Robinhood gained 4.5% to reach a new all-time high of $78.35.

The market reaction reflects growing confidence that clear federal oversight could accelerate mainstream stablecoin adoption. It also helps reduce regulatory uncertainty for U.S.-based issuers.

Bernstein analysts expressed bullish views on the legislation. “The intent of the GENIUS ACT is to bring stablecoin innovation back to the US onshore from the offshore markets,” analyst Gautam Chhugani wrote in a research note.

The bill clearly defines stablecoins as payment instruments, treating them as digital cash. This legal clarity could drive broader mainstream adoption beyond crypto trading, which currently represents 80-90% of stablecoin usage.

Next Steps in Legislative Process

The GENIUS Act now moves to the House of Representatives for consideration. House Financial Services Committee staff confirmed that scheduling discussions are expected to begin next week.

A floor vote date has not yet been announced. Supporters of the bill hope to have it on President Trump’s desk before the August congressional recess.

Circle’s after-hours trading showed continued momentum, with shares rising an additional 6.15% to $211.87 by 7:59 PM EDT on June 18.