Crypto Company Stocks Soar Following Regulatory Victory

The US Senate has voted in favor of the GENIUS Act,  a bill that would see clearer regulations regarding the stablecoin market. In response to this development, the stocks of several prominent crypto companies have soared significantly, showing a notable sense of optimism for the future of crypto. Specifically, Coinbase and Circle saw their stock value rise. Many believe that they would be among the institutions that would profit from this stablecoin development. It is the latest in a long line of wins for the crypto industry in the last two years.

Crypto on the Rise 

As far as many crypto lovers are concerned, this news is coming at just the right time. First, cryptocurrency is seeing more use cases than ever before. Take the world of gambling, for example. It had been ruled by fiat currency for centuries, but now, there is more demand to use cryptocurrency. As a recent article from gambling expert Alex Hoffmann suggests, real money online pokies are quickly hopping on the crypto train with no signs of stopping. Many people who choose cryptocurrency prefer stablecoins as there is less market volatility to deal with.

Then you have other milestones such as Bitcoin crossing the $100,000 mark, the approval of spot ETFs for both Bitcoin and Ether, and the rumoured spot ETFs to be approved for other tokens. The numbers clearly show that the crypto industry is doing better than it has ever done before. So, there is a greater need for robust regulation that protects consumers while not stifling the industry. And as far as many industry stakeholders are concerned, the GENIUS Act does just that. 

The Aftermath of the Decision

In a stunning move, the Senate voted 68-30 in favor of the GENIUS Act, which means more comprehensive stablecoin regulation is coming to the US soon. Notably, the bill was only introduced a few weeks ago, which is fast for a crypto-related piece of legislation.

In response to this, both Coinbase and Circle’s stock have seen a rise. As per Google Finance data, Coinbase’s Nasdaq-listed stock shot up by 16.32% in 24 hours while Circle’s NYSE-listed stock went up by 33.82% in the same period.

Years ago, there was a major push for the stock of crypto-related companies to be listed on major exchanges as a sign of mainstream acceptance. Coinbase, a major exchange, and Circle, a stablecoin issuer, were some of the companies investors first turned to following the news.

It is not overly surprising that the bill was able to see this much support, given that there has been a shift in the treatment of digital assets by regulators. Notably, current US President Trump has been aggressively supporting the industry since the early days of his 2024 campaign. From securing endorsements from major crypto figures to even releasing a line of Bitcoin-themed merchandise, he promised the industry that he would support its growth if re-elected. 

In the first six months he’s been in office, he’s hosted the first crypto summit at the White House, released his own controversial stablecoin, and pushed for a shake-up in the Securities and Exchange Commission’s leadership that has benefited the industry.

Once the news of the bill’s approval was announced, Trump took to Truth Social to celebrate.

“The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS! Digital Assets are the future, and our Nation is going to own it,” He said. 

Conclusion

The GENIUS Act getting senate approval is a major win for the industry in 2025, and once it begins rollout, Circle, Coinbase, and other businesses in the crypto space will reap the benefits. Outside of stock price surge and initial profits, it can lay the groundwork for greater crypto acceptance moving forward. While stablecoins have had their ups and downs over the years, this could be a step in a new direction.  For now, only time will tell what the short and long-term implications of the GENIUS Act will be for companies and crypto as a whole. 

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