Coinbase and Circle Shares Surge as Senate Passes Stablecoin Bill in Rare Crypto Win
The Senate's passage of the GENIUS Act establishes the first federal framework for stablecoins.
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XLM$0.1932-6.36%
BTC$62,533.00-3.27%
ETH$1,660.02-4.47%
USDT$0.9988-0.01%
USDC$0.9998+0.00%
XRP$1.10-3.16%
SOL$68.97-5.07%
TRX$0.3301-0.45%
FIGR_HELOC$1.04+0.35%
HYPE$62.57-7.36%
DOGE$0.079-5.01%
USDS$0.99960.00%
RAIN$0.0157+4.11%
LEO$9.54-0.17%
ZEC$417.90-7.62%
XLM$0.1932-6.36%
Circle’s Q3 earnings report underscores how stablecoins are becoming silent engines of U.S. financial power - embedding globally in a profitable and compliant manner.
The Senate's passage of the GENIUS Act establishes the first federal framework for stablecoins.
There is a reason why CRCL stock surged, and it hides within a more nuanced approach to handle the crypto industry.
Coinbase bought a minority equity stake in USDC issuer Circle.
Circle CEO believes a stablecoin pegged to a yuan could prove more effective in terms of internationalizing the country’s national currency.
With CCTP, the need for lock-and-mint bridging is eliminated.
Circle no longer holds Treasuries maturing beyond early June.
Xapo will now allow USDC deposits and withdrawals and offer a 4.1% interest rate on the deposits.
After hitting an all-time low of around $0.8774 on Saturday, USDC quickly started recovering, surging to above $0.91.
USDC issuer Circle said it plans to hire 135 to 255 additional employees in 2023 as part of its expansion strategy.
After a post claiming that Circle, along with multiple other stablecoin issuers, received warnings from the SEC, the company’s CSO spoke out denying the rumor.
Circle, best known as the issuer of USDC, reportedly triggered the investigation of Paxos by filing a BUSD-related complaint in late 2022.
Circle ended its $9 billion SPAC deal with Concord as a result of a mutual agreement. The company still plans for a potential public listing in…