🚀 Circle Internet Stock Soars to New Highs as Stablecoin Legislation Fuels Crypto Frenzy

Wall Street finally wakes up to crypto—just as regulators hand the industry a win.

The catalyst? A surprise bipartisan stablecoin bill clears Congress, sending Circle's stock into the stratosphere. Traders pile into the crypto-adjacent play, betting dollar-pegged tokens will eat traditional finance's lunch.

Why it matters: While bankers debate 'blockchain not Bitcoin,' real adoption happens when fiat-on-ramps get regulatory green lights. Circle's USDC now looks less like a speculative asset and more like the plumbing for tomorrow's financial system.

The irony: Same institutions that mocked stablecoins last year now FOMO-buy the stock. Guess those 'useless digital IOUs' suddenly look useful with 5% yields and instant settlements.

Another day, another dollar—digitized, decentralized, and dripping with Wall Street hypocrisy.

Confident Investing Starts Here:

• Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
• Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter

The landmark bill marks the first major legislative approval for the digital currency industry, and the news pushed shares of major cryptocurrency players higher, including crypto exchange Coinbase Global (COIN). The bill allows for the official use of stablecoins across several industries, including banking, finance, technology, retail, and others.

Stablecoin Giants Celebrate Regulatory Milestone

Circle Internet Group is a USDC stablecoin issuer and is indeed poised to be one of the biggest beneficiaries of the bill. The company went public less than two weeks ago, and its shares have already surged more than 500% above their IPO (Initial Public Offering) price of $31 on June 5, turning early investors into millionaires.

Circle CEO Jeremy Allaire expressed his enthusiasm for the breakthrough legislation, stating, “History is being made” and adding that the law “will drive U.S. economic and national competitiveness for decades to come.” Meanwhile, Coinbase also remains a major beneficiary as a co-founder of USDC and due to its 50% revenue share deal with Circle. COIN stock surged over 16% yesterday on the news.

Stablecoin Market Poised for Explosive Growth

Following the passage of the bill, private companies can now issue stablecoins with strict guardrails. They are required to maintain full reserve backing, undergo monthly audits, and adhere to anti-money laundering policies. The stablecoin market is currently valued at about $260 billion, but the bill could rapidly accelerate its future growth potential.

U.S. Treasury Secretary Scott Bessent, who now has extensive oversight authority under the new bill, projects that the stablecoin market could grow nearly eightfold to surpass $2 trillion in the coming years. Such significant growth is expected to attract more users and increase trading activity on platforms such as Coinbase.

Is Circle Internet Stock a Buy Today?

With the passing of the GENIUS Act, Circle Internet Group has emerged as a clear frontrunner in the rapidly evolving stablecoin market. The legislation not only provides much-needed regulatory infrastructure but also unlocks new opportunities for growth, innovation, and broader adoption of digital currencies. As market confidence builds and the stablecoin sector expands, Circle’s strong position and robust partnerships position it for continued leadership in the next phase of the digital currency era.