Coinbase and Circle shares moved forward on Wednesday after US lawmakers signed for clearer Stablecoin regulation by pushing through the Genius Act for home approvement.
On Wednesday, the Coinbase (coin), listed in Nasdaq, closed the day of trading up to 16.32% to $ 295.29, while Circle (CRCL), listed in NYSE, rose 33.82% to close to $ 199.59, According to In Google Finance data.
Genius Act is a bullish signal for the entire crypto industry
Rally followed a 68-30 vote in the Senate of Tuesday In favor of the Genius ActIt was passed only six weeks after Tennessee Senator Bill Hagerty introduced it.
Many in the crypto market see it as a bullish signing for the industry, which marks a significant step toward creating a regulation framework for stablecoins.
US president Donald Trump Says In a fact that social post on Thursday to capture the Genius Act on his desk “ASAP – no delay,” while the White House AI and Crypto Czar David Sacks Thanks Trump for delivering his “promise to make the USA crypto capital of the planet.”
Circle, gives USDC (USDC. Collaboration with Coinbase in October 2018.
Following the stock surge, Crypto businessman Genco Says That the market has “slowly discovered that Coinbase gets 50% of $ CRCL income generated from the USDC (and) 100% of income from the USDC to the Coinbase platform (and) a stake of equity.”
Circle stock is the “Talk of the Town”
“This is a very hot -haunted,” said Genco, recognizing the Genius Act passed by the Senate. “This will be the most popular play on the retrospect.” Crypto analyst Tylerd added“CRCL is the talk of the town.”
Meanwhile, Crypto businessman Anthony Pompliano Taught In Coinbase’s stock as a signal that “Wall Street wants Bitcoin and Crypto assets.”
Coinbase Stock’s all-time high high was $ 357, reached in November 2021 amid a wider rally in the crypto market that saw Bitcoin (Btc) Press new highs of $ 69,000.
At the time of publication, the current High Bitcoin was $ 111,970, which it reached on May 22.
Recent FUD in future public stablecoin lists
While Coinbase has been publicly listed since April 2021, the Circle has only been public for a few weeks.
On June 5, the Circle made a strong entry into the New York Stock Exchange (NYSE), with its climb 167% in its first trading session.
Related: Coinbase seeks to approve the SEC for ‘Tokenized Equities’ – Report
Some participants in the crypto market think that this may be the start of more Stablecoin companies that will go public, but others are not sure it will be fine.
On Monday, Bitmex founder Arthur Hayes Most of the new public stablecoin has warned Companies are overvalued and fail. Hayes also stated that the price of the circle of the circle was “unlucky.
Magazine: Arthur Hayes does not care when his Bitcoin predictions are quite wrong
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
