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Circle Stock Soars 8.62% on GENIUS Act Passage
Generated by AI AgentAinvest Pre-Market Radar
Monday, Jun 23, 2025 4:32 am ET1min read
On June 23, 2025, Circle's stock surged by 8.62% in pre-market trading, reflecting a significant bullish sentiment among investors.
Circle's recent stock performance can be attributed to the passage of the GENIUS Act by the U.S. Senate. This legislation is a game-changer for
, as it mandates that stablecoins maintain 1:1 reserve backing with U.S. government securities, thereby enhancing their credibility and stability. The GENIUS Act also positions Circle's flagship stablecoin, USDC, as a legally recognized payment tool, potentially disrupting traditional financial systems.Circle's stock has been one of the market's biggest winners this week, with a significant portion of its gains coming after the Senate's decisive vote on the GENIUS Act. This regulatory green light has fueled optimism among investors, leading to a surge in Circle's share price.
Despite the recent sell-off by ARK Invest, which reduced its stake in Circle by nearly 30%, the firm still holds a sizeable position in the company. This indicates continued confidence in Circle's long-term prospects, despite the volatility in its stock price.
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