On June 28, 2025, Circle Internet Group (NYSE: CRCL) saw its stock close at $180.43, a significant increase from its IPO price of $31 on June 5, 2025. This surge follows the U.S. Senate's approval of the GENIUS Act on June 18, 2025, establishing a federal regulatory framework for stablecoins. (Source: Reuters, June 18, 2025)
The GENIUS Act mandates that stablecoins like USDC be backed by liquid reserves and requires monthly disclosure of reserve composition. Following the Senate's announcement, Circle's stock price surged by 16%. (Source: Reuters, June 18, 2025)
Circle's IPO raised approximately $1.2 billion, achieving a market capitalization of nearly $22 billion. The company's strong financial performance further solidified its position in the financial technology sector. (Source: Reuters, June 6, 2025)