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Shares of USDC stablecoin issuer Circle surged 33% on Tuesday after the US Senate passed the landmark GENIUS Stablecoin Act and President Donald Trump urged lawmakers to move “lightning fast” to get the bill to his desk.
Circle stock (CRCL) closed at $199.59 on the New York Stock Exchange (NYSE), Google Finance data shows, and climbed another 6% in after-hours trading.
“Get It To May Desk, ASAP,” Trump Tells Lawmakers
The surge in Circle’s stock price came after the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed through the Senate with overwhelming bipartisan support. This landmark bill is the first crypto-focused legislature to pass the Senate, and now heads to the House of Representatives.
If the bill passes the House, it will then head to President Trump’s desk for final approval. Trump took to his social media platform Truth Social to urge lawmakers to get the bill to his desk “ASAP – NO DELAYS, NO ADD ONS.”
Thank you President @realDonaldTrump for delivering on your promise to make the USA the crypto capital of the planet! pic.twitter.com/WAZViAeJ6m
— David Sacks (@davidsacks47) June 19, 2025
”The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets,” Trump said. “The House will hopefully move LIGHTNING FAST, and pass a `clean’ GENIUS Act,” he added.
Slight Republican Majority Could Push GENIUS Act Past House
Republicans hold a small majority over Democrats in the House. According to data from Bloomberg, there are 213 Democrats and 220 Republicans.
Today brings us one step closer to becoming a welcoming home for digital asset companies. Now, let’s finish the job & pass market structure legislation to fulfill @POTUS' vision of becoming the crypto capital of the world. pic.twitter.com/tyz6Kbc5qK
— Senator Cynthia Lummis (@SenLummis) June 18, 2025
The recent Senate vote also saw a surge in the number of Democrats in favor of the bill. While vocal crypto critic Elizabeth Warren still opposes the Act, other Democrats said doing nothing was not an option.
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