GENIUS Act Passes: Crypto Markets Surge as Stablecoins Soar and Coinbase Rolls Out New Payment Services

Crypto markets are powering upward as policy, payments, and powerhouse platforms hit headlines—Circle shares spike, stablecoins top $250 billion, and Coinbase’s new payment platform drives Wall Street excitement. Meanwhile, Trump voices full-throated support for the sector and historic legislation clears another hurdle. Here’s everything you need to know from this whirlwind FOMO hour.

GENIUS Act Propels Circle and Crypto Equities Higher

The cryptocurrency market is experiencing a surge in momentum after the passage of the GENIUS Act, which prompted a sharp uptick in Circle’s stock. The legislation, which aims to foster innovation in the digital asset sector, has become a focal point for both traders and institutional investors. Donald Trump has weighed in, proclaiming that “crypto is the future, and we’ll own it,” and is now urging lawmakers in the House of Representatives to push the GENIUS Act forward. As the news spread, market enthusiasm translated into broader gains across crypto equities, with Solana-focused strategies even announcing plans to go public in the US. This legislative movement is widely viewed as a green light for further mainstream adoption.

Stablecoins Eclipse $250 Billion and Payment Solutions Expand

The stablecoin sector broke a significant barrier, exceeding a market capitalization of $250 billion for the first time. Platforms such as Crypto.com and Deribit are now accepting BUIDL as collateral, while Coinbase has unveiled ‘Coinbase Payments,’ its latest offering enabling USDC to serve as collateral for a wide range of transactions. Following the launch, Coinbase stock posted notable gains. This wave of acceptance highlights how stablecoins are becoming deeply integrated into trading, lending, and payment infrastructure, expanding their utility within both crypto-native and traditional finance arenas.

Key Stats & Figures

• Stablecoin Market Cap: Surpassed $250 billion, underscoring sector growth and mainstream financial integration.
• Crypto Lender Holdings: Crypto lending firms now custody approximately $60 billion in assets, reflecting growing institutional and retail participation.
• Capital Raises: Lion Group secures $600 million to bolster the HYPE treasury, signaling rising investor appetite for crypto ventures.
• XRP ETF: Canada launches the first spot XRP ETF, pioneering new avenues for regulated crypto investment products overseas.

Broader Moves: IPOS, Policy, and Shifting U.S. Landscape

Beyond the large-cap headlines, the crypto industry is seeing movement on multiple fronts. Brokerage giant FalconX is reportedly exploring an IPO, and Jump Trading is mulling a return to crypto markets after a hiatus. In regulatory developments, Ohio has introduced a tax exemption for Bitcoin payments under $200, offering additional incentives for adopting digital currencies as everyday money. Meanwhile, the live FOMC (Federal Open Market Committee) meetings signal that the Federal Reserve is in wait-and-see mode, monitoring macro-economic and geopolitical tensions—like the ongoing conflicts between Israel and Iran—that continue to drive crypto’s volatility and status as a hedge in turbulent times.

Conclusion: What This Means for the Market

Crypto’s latest surge is ignited by a mix of legislative breakthroughs, expanding payment utilities, and broader institutional interest—all pointing toward a maturing, globally relevant industry. As new products like spot ETFs emerge and mainstream firms race to adopt, all eyes are on how policy, technology, and market innovation will continue to reshape the financial landscape. Expect further volatility, bold moves, and new opportunities as crypto cements its role in the economy.

Stay ahead of the trends with The Crypto Report—your source for key developments, market shifts, and opportunities in digital assets.