Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
Investing.com -- Circle Internet Group shares jumped 14% in premarket trading Thursday, extending their rally following the U.S. Senate’s passage of stablecoin legislation.
The stablecoin issuer already saw a significant rise of almost 34% on Wednesday after lawmakers approved a bill establishing regulatory rules for cryptocurrencies pegged to the U.S. dollar.
The legislation represents a major development for the crypto industry, which has invested heavily in electing crypto-friendly representatives to Congress. The stablecoin vote marks the industry’s most concrete result from these political investments.
Circle’s stock has performed exceptionally well since going public, rising more than 540% from its initial public offering price of $31 as of Wednesday’s market close.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.