Coinbase, Dircele Stocks Arclge after the Grand Approved by the Senate star-news.press/wp

Coinbase and Circle shares rose on Wednesday after lawmakers in the United States indicated support for the most obvious Stablecoin organization by pushing the genius law to approve the House of Representatives.

On Wednesday, Coinbase (Coin), listed on the Nasdaq Stock Exchange, closed the trading day, an increase of 16.32 % to $ 295.29, while Circle (CRCL), listed on the New York Stock Exchange, increased by 33.82 % to close at $ 199.59, According to To Google Finance Data.

Act Genus Act is a bullish sign of the entire encryption industry

This gathering followed the vote on Tuesday 68-30 in the Senate in favor of the Genius Act, just six weeks after it was submitted by Sinator Tennessee Bell Hajari.

Many in the encryption market believes this is a thunderbolt sign of this industry, which represents a big step towards creating a regulatory framework for Stablecoins.

US President Donald Trump He said In fact, social on Thursday to get the work of the genius to his office “as soon as possible – no delay”, while the White House AI and Crypto CZAR DAVID to thank Trump to connect him to “a promise to make the United States the capital coding to the planet.”

Circle, USDC (USDC)-the second largest stablecoin according to the market value-is scheduled to benefit from the draft law, as most of its revenues come from the interest gained in the precautions that support USDC, which it participated in establishing Coinbase in October 2018.

After increasing the shares, the jenco coding dealer He said The market “is slowly discovers that Coinbase gets 50 % of the CRCL revenues resulting from USDC (and) 100 % of USDC revenues on Coinbase Platform (and) stock share.”

Circle’s height is “talking about the city”

“It is the summer of Stablecoin,” said Genko. “This play will be the most obvious in the past.” Add“CRCL is the city’s talk.”

Meanwhile, the pioneer of encryption Anthony Box Duplicate To increase Coinbase’s stock as a sign that “Wall Street wants bitcoin and encryption origins.”

The shares in shares in all times are $ 357, which was reached in November 2021 amid a broader gathering in the encryption market that witnessed Bitcoin (BTC), which amounted to new levels of $ 69,000.

At the time of publication, the current Bitcoin height is $ 111,970, which it reached on May 22.

Modern FUD on future stablecoin lists

While Coinbase has been publicly listed since April 2021, Circle was only public for a few weeks.

On June 5, Circle entered the New York Stock Exchange (NYSE), with 167 % shares in its first trading session.

Related to: Coinbase searches for SEC approval for “Distinguished Arrows” – Report

Some participants in the encryption market believes that this may be the beginning of more stablecoin companies that are in public, but others are not sure that they will go well.

On Monday, the founder of Bitmex Arthur Hayes warned that most of the new public stablecoin companies would fail and fail. Hayes also claimed that the price of a share will be “madly exaggerated”.

magazine: Arthur Hayes does not care when bitcoin predictions are completely wrong

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.