Circle shares extend their rally after Senate passes landmark stablecoin billNEW!MenuselectSearch quotes, news & videosMenuWatch Daily: Monday - Friday, 3 PM ETCircle shares extend their rally after Senate passes landmark stablecoin billPublished Fri, Jun 20 20258:14 AM EDTUpdated Fri, Jun 20 20254:01 PM EDTKey PointsCircle shares extended gains as investors cheered the Senate approval of its proposed stablecoin legislation, the GENIUS Act.Circle is on pace to end the week higher by nearly 80%. It has rocketed 675% since its initial public offering on June 5.The GENIUS Act, passed by the Senate on Tuesday, seeks to establish clear regulatory guidelines for the use of stablecoins.In this articleFollow your favorite stocksCREATE FREE ACCOUNTCircle Internet Group Initial Public Offering at the New York Stock Exchange in New York City, U.S., June 5, 2025. NYSEShares of continued to climb Friday as investors cheered the Senate approval of its proposed stablecoin legislation, the GENIUS Act.The stock rose more than 20% as excitement continued to build. The bill passed the Senate on Tuesday and now heads to the House of Representatives. The shares rose 33% on Wednesday on the news. The market was closed Thursday for the Juneteenth holiday. shares climbed 4.5%. The crypto exchange operator receives half of the revenue generated from the interest earned on Circle's USDC reserves. It also makes 100% of the interest on the USDC held directly on its own platform.Circle is on pace to end the week higher by nearly 80%. It has rocketed about 675% since its .Stablecoins are cryptocurrencies whose values are pegged to that of another asset, usually the U.S. dollar. Traditionally used as bridge currencies for crypto traders, stablecoins today are benefiting from increased interest by and as the Trump administration rolls back Biden-era crypto policies.Stablecoins have attracted a groundswell of investor interest in anticipation of regulatory clarity from Congress, as they have the potential to . and are reportedly exploring the possibility of . , are among other big companies reported to be exploring stablecoins in recent weeks.The GENIUS (short for Guiding and Establishing National Innovation for U.S. Stablecoins) Act seeks to establish a regulatory framework for the use of stablecoins. The House has its own stablecoin legislation in the works, called the STABLE Act."The GENIUS Act would meaningfully upgrade dollar payment rails in ways that speed settlement times, improve transparency, promote dollar dominance, and juice U.S. debt demand," Alex Thorn, head of firmwide research at crypto-focused asset manager Galaxy Digital, said in a note to investors. "The bill would add substantial consumer protections, collateral requirements, and regulatory oversight, while creating a pathway for innovators and incumbents to use public blockchains to move dollars worldwide. Getting traditional finance onto public blockchains through stablecoins could also open the door for wider adoption of , crypto, and [decentralized finance] generally."Don't miss these cryptocurrency insights from CNBC Pro: News TipsGot a confidential news tip? We want to hear from you.CNBC NewslettersSign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.Advertise With Us© 2025 CNBC LLC. All Rights Reserved. , Shares of Circle continued to climb on Friday as investors cheered the Senate approval of its proposed stablecoin legislation, the GENIUS Act., Shares of Circle are up 53%, soaring from $148 to $227, since the market opened on Wednesday after the legislation passed in the Senate on Tuesday night. Shares of other crypto-related companies .