NiftyNoon: GENIUS Act Makes All $CRCL Holders Geniuses 🏛️📈🧠
Shares of USDC issuer Circle have skyrocketed following the Senate's passage of the GENIUS Act, a landmark stablecoin regulation bill (June 19, 2025)
Nifty Thought:
What a day for stablecoins and regulatory clarity! The U.S. Senate has passed the GENIUS Act, a landmark piece of legislation aimed at creating a federal framework for stablecoins. This is one of the first significant crypto-focused bills to be approved by Congress, and it's designed to open the door for banks, financial tech companies, and retailers to use dollar-pegged digital currencies. Proponents of the bill, like co-sponsor Senator Kirsten Gillibrand, believe it will protect consumers, foster responsible innovation, and help maintain the U.S. dollar's global standing. The bill will now move to the House of Representatives for approval, where a similar bill already exists.
The market's reaction to the Senate's passage was immediate and overwhelmingly positive. Shares for Circle (CRCL), the company behind the popular USDC stablecoin, soared over 30% on the news. This latest surge adds to an incredible rally for the company, which has seen its stock price climb more than 500% since its public debut on June 5th. Other crypto-adjacent stocks like Coinbase (COIN) and Robinhood (HOOD) also saw significant gains. Circle's CEO, Jeremy Allaire, celebrated the legislative progress, stating, "History is being made". This move could be a major catalyst for the broader adoption of stablecoins, potentially expanding their use far beyond the crypto markets and into mainstream payments and settlements.
Highlighted News:
🪙 $CRCL is on a rampage since IPO on Jun 4th. Closed at 48.4b mcap. At $269 a share its more valuable then circulating $USDC:
https://x.com/theDESK9/status/1935490413789392992
🔷 CRCL is the talk of the town; But COIN stock also popped 16% today to $295 and $75B mc:
https://x.com/Tyler_Did_It/status/1935488209628315819
🚫 Federal Open Market Committee decided to leave policy interest rate unchanged:
https://x.com/cspan/status/1935407886311579746
🤝 BUIDL breaks new ground on Crypto.com and Deribit:
https://x.com/Securitize/status/1935321762289344787
The Ink Foundation is announcing plans to launch $INK - a token designed to power the future of onchain capital markets:
https://x.com/inkfndhq/status/1934991629552656720
🇨🇳 China talks up digital yuan in push for multi-polar currency system:
https://x.com/Reuters/status/1935242375745384797
Project and Community News:
US Aims to Ease Capital Rule Limiting Banks’ Treasury Trades: https://x.com/pakpakchicken/status/1935207736968704170?s=46
Today, Matthew R. Galeotti of @DOJCrimDiv announced a civil forfeiture complaint to seize $225.3M in cryptocurrency tied to investment fraud & money laundering: https://x.com/DOJCrimDiv/status/1935400636205420888
According to @zachxbt, the pro-Israel hacker group Gonjeshke Darande attacked the Iranian crypto exchange Nobitex and stole $82M in assets: https://x.com/lookonchain/status/1935264070036558228
LGHL Secures $600 Million Facility to Launch Hyperliquid (HYPE) Treasury: https://x.com/mlmabc/status/1935339665453916479
South Korea's largest cryptocurrency exchange, Upbit, will list RAY/KRW and RAY/USDT trading pairs: https://x.com/WuBlockchain/status/1935498514429264167
Coinbase Derivatives is partnering with Nodal Clear to bring USDC as collateral to US futures markets: https://x.com/coinbase/status/1935323693917339905
Healthcare firm Prenetics buys $20 million worth of BTC and adopts Bitcoin treasury strategy: https://x.com/BitcoinMagazine/status/1935325299714949121
@SolanaInstitute, @superstatefunds, @orca_so, and @phantom have submitted detailed legal frameworks to the SEC as part of Project Open: https://x.com/solanainstitute/status/1935321614360481890?s=46
Introducing the Token Transparency Framework, a new standard for leveling the playing field: https://x.com/blockworks_/status/1935321626788380714?s=46
@CoinbasePltfrm has published the @Solana validator performance report: https://x.com/coinbasepltfrm/status/1935358690334490670?s=46
Introducing ZisK — a new era for zero-knowledge proof systems: https://x.com/ziskvm/status/1935307212282593503
TLDR on Abstract FUD: https://x.com/br4ted/status/1935345029951742045?s=46
The truth about GOTCHI on Abstract: https://x.com/vohvohh/status/1935333615639875863?s=46
@jump_ is re-introducing itself - the builders behind some of the most ambitious projects in crypto: https://x.com/jump_/status/1935435825207984228?s=46
Quick Stats:
👾 Blur ETH Daily Volume: 270.92 ETH (▼ 30.96%)
🌊 OpenSea ETH Daily Volume: 827.06 ETH (▼ 8.78%)
🟠 BTC : $104,496.93 (▼ 0.37%)
🔷 ETH: $2,516.25 (▼ 0.44%)
🟣 Solana: $144.26 (▼ 1.27%)
🟪 Polygon: $0.19 (▼ 1.65%)
Top NFT Sales:
CryptoPunks #5136: 62.72 ETH
CryptoPunks #9993: 53.00 ETH
CryptoPunks #9915: 46.75 ETH
NFT Daily Winners:
🧦 Bitcoin Puppets: 0.04 BTC (▲ 9.03%)
🐵 NodeMonkes: 0.03 BTC (▲ 4.37%)
🚬 CryptoPunks: 40.99 ETH (▲ 2.50%)
🦧 Bored Ape Yacht Club: 11.64 ETH (▲ 0.43%)
😡 Mad Lads: 35.03 SOL (▲ 0.12%)
👾 Tensorians: 2.43 SOL (► 0.00%)
NFT Daily Losers:
🍭 Mocaverse: 1.19 ETH (▼ 0.04%)
🧙♂️ Taproot Wizards: 0.16 BTC (▼ 0.24%)
👩🏻 Milady Maker: 1.99 ETH (▼ 1.20%)
⛩ Azuki: 2.07 ETH (▼ 1.34%)
🐧 Pudgy Penguins: 8.85 ETH (▼ 1.44%)
🏳🌈 Chromie Squiggles: 4.50 ETH (▼ 1.96%)
🐱 Quantum Cats: 0.02 BTC (▼ 2.25%)
🏴☠ Captainz: 0.33 ETH (▼ 4.79%)
💼 Ordinal Maxi Biz: 0.02 BTC (▼ 5.06%)
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