Why Circle Internet Stock Skyrocketed Up 33.9% Today

Shares of Circle Internet Group (CRCL 33.92%) soared today, finishing the day up 33.9%. The spike came as the S&P 500 (^GSPC -0.03%) and Nasdaq Composite (^IXIC 0.13%) were relatively flat.The U.S. Senate passed the GENIUS Act, a landmark bill that would create a federal regulatory framework for stablecoins like Circle's USDC.Big news for stablecoinsWhile the bill still needs to clear the House of Representatives, the passage of the GENIUS Act through the Senate marks a major step toward integrating stablec ...