Sunday, June 22, 2025

Crypto Stocks Surge as Trump Supports GENIUS Act, Boosting Coinbase, Circle, and SRM

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Crypto Stocks Surge as Trump Supports GENIUS Act, Boosting Coinbase, Circle, and SRM
In a significant week for the cryptocurrency sector, the Senate passed the GENIUS Act, which aims to establish a federal framework for dollar-backed stablecoins, signaling a potential boost for their integration into traditional financial services. The act has garnered praise from the crypto industry, with Circle’s stock soaring 80% and Coinbase experiencing a 27% rise. Meanwhile, little-known SRM Entertainment skyrocketed by 661% after announcing a partnership with the crypto platform Tron. President Trump publicly endorsed the bill, highlighting his family’s increasing ties to the crypto landscape, including a $2.5 billion fundraising initiative for cryptocurrency investments. Despite this momentum, some Democrats, including Senator Elizabeth Warren, expressed concern over consumer protections and potential loopholes in the legislation.
Original source:
https://finance.yahoo.com/news/coinbase-circle-srm-lead-stock-rally-as-trump-cheers-genius-act-in-another-dream-week-for-crypto-163951634.html

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