Crypto Stocks on Fire: Coinbase, Circle, and SRM Skyrocket as Trump Applauds GENIUS Act
Crypto stocks soar as the GENIUS Act wins Senate approval. Circle jumps 77 percent, Coinbase gains 25 percent, and SRM explodes 777 percent after Tron deal. A game-changing week for crypto markets.
The crypto world just witnessed one of its most thrilling and transformational weeks in recent memory. With the US Senate greenlighting the highly anticipated GENIUS Act, investors poured into crypto-related stocks, propelling prices into the stratosphere. Circle CRCL, Coinbase COIN, and a surprising entrant, SRM Entertainment SRM, led the charge in a market that is now being taken more seriously by Wall Street and Washington alike.
What is the GENIUS Ac,t, and why is it a Game-Changer
The GENIUS Act, short for Government-Endorsed National Innovation for US Stablecoins, is a groundbreaking bill passed by the US Senate aimed at establishing a federal regulatory framework for dollar-backed cryptocurrencies, popularly known as stablecoins.
This legislation aims to establish distinct guidelines for the creation, examination, and incorporation of stablecoins within the US financial system. Most importantly, it highlights the increasing acceptance of crypto assets linked to traditional currencies like the US dollar, which boosts their reliability and attractiveness to consumers and financial organizations.
Although the bill still awaits approval from the House of Representatives and a final signature from President Trump, the momentum is undeniable. The crypto community, industry stakeholders, and retail investors alike are already celebrating this as a pivotal win that could unlock mass adoption of stablecoins in areas like cross-border payments, remittances, and financial infrastructure.
President Trump's enthusiastic endorsement of the GENIUS Act, calling it a smart move for America’s future, has only accelerated investor optimism.
Circle CRCL From IPO to Meteoric Rise
Circle, the company behind USDC USD Coin, the second-largest stablecoin in the world, is one of the biggest winners of the week.
After debuting on the stock market via a public listing on June 5, Circle’s stock has skyrocketed over 700 percent, with a staggering 77 percent weekly gain following the GENIUS Act announcement.
Circle’s strong performance is not just due to legislative tailwinds. As a company, it has built significant trust and infrastructure in the stablecoin space, partnering with key institutions and expanding globally. The GENIUS Act could further legitimize and scale USDC’s usage across traditional finance and decentralized applications.
Coinbase COIN Riding the Stablecoin Wave
Coinbase Global, the largest cryptocurrency exchange in the US, also had a fantastic week as its stock rose more than 25 percent.
Coinbase is closely tied to Circle through a strategic partnership and holds a minority stake in the company. More importantly, Coinbase earns a share of the revenue generated from USDC transactions and holdings, making Circle’s success directly beneficial for its bottom line.
With the GENIUS Act potentially opening up stablecoin access to millions more users and institutions, Coinbase is poised to see higher trading volumes, deposits, and regulatory clarity, three things the exchange desperately needs in a still-uncertain US regulatory environment.
Coinbase’s recent performance also reflects growing investor confidence in crypto infrastructure providers as opposed to speculative token plays. It is not just about buying Bitcoin anymore; it is about investing in the roads and rails of the new financial system.
SRM Entertainment SRM The Surprise of the Week
In what might be one of the most unexpected stories in crypto history, SRM Entertainment, a small Winter Park, Florida-based theme park merchandise company, saw its stock explode by 777 percent after announcing a major pivot into the crypto space.
On June 16, SRM dropped a bombshell. It had struck a partnership with Tron, a blockchain platform founded by crypto personality Justin Sun. As part of the deal, SRM will begin purchasing Tron tokens, rebrand itself as Tron Inc., and bring Justin Sun on board as an advisor.
While some investors might see this as speculative hype, others interpret it as the beginning of legacy businesses integrating blockchain into their business models. The SRM Tron deal not only grabbed headlines but showcased how crypto is starting to permeate industries well beyond finance and tech.
Why This Week Matters for the Future of Crypto
The convergence of legislative support, corporate realignment, and investor enthusiasm paints a promising picture for crypto’s future. This week showed us
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Policy can be a powerful catalyst for market movement in the crypto sector
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Stablecoins are no longer a niche idea; they are becoming central to the conversation about digital finance
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Partnerships and rebranding moves, like SRM’s Tron transformation, can redefine a company's market potential overnight
Most importantly, crypto is evolving beyond coins and tokens. It is becoming an ecosystem, complete with publicly traded companies, regulatory frameworks, and even unexpected entrants like merchandise firms.
Final Thoughts
The GENIUS Act may still be just a bill, but its ripple effects are already being felt far and wide. Circle and Coinbase are proving that crypto infrastructure is investable and scalable. Meanwhile, SRM Entertainment’s sudden transformation into a blockchain venture highlights how quickly fortunes can change in the crypto world.
As we await further developments in the House and a final decision from President Trump, one thing is clear. The line between traditional finance and crypto just got a whole lot blurrier, and that might be the best thing that has ever happened to digital assets.
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