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GENIUS at work 🤑
Coinbase and Circle have seen their stocks jump double digits after the Senate cleared key stablecoin legislation, the GENIUS Act, to proceed to the House.
Stacy Elliott
June 18, 2025
📝 What you need to know
Coinbase and Circle shares surged after the Senate passed the GENIUS Act, a bill aiming to create the first clear U.S. rules for stablecoin issuers.
CRCL hit a new all-time high, jumping nearly 20% to $178.74, while COIN rose almost 12% to $283.78.
The GENIUS Act vote is bullish for the two companies because they share interest income from reserves of USDC, the market's second-largest stablecoin. It’s a revenue stream that brought Coinbase $297 million last quarter. But with the Fed expected to cut rates later this year, analysts warn that income could shrink.
But for now, investors are treating the development like stroke of genius.
📊 Myriad Market of the Day
💬 Quote of the Day
Stablecoins are reshaping global commerce, and Coinbase is leading the charge with a major move into payments. Stablecoins processed $30 trillion in settlements last year–3x growth year-over-year. They’re a faster, cheaper, more global way to move money – and the world is catching on.
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