Overview

• Circle debuted on June 5 at $31 a share and saw its stock surge 675% in eleven trading days, lifting its market value above $48 billion.
• The Senate passed the Genius Act on June 17 to establish a regulatory framework for stablecoins, and the bill now moves to the House for final approval.
• Circle issues USDC tokens pegged to the U.S. dollar and generates revenue by investing customer deposits in short-term Treasury securities.
• Citi analysts forecast the stablecoin market could expand to $3.7 trillion by 2030, highlighting the potential scale of digital-dollar transactions.
• Circle’s profitability remains tied to Federal Reserve interest-rate decisions because its earnings depend on returns from its Treasury investments.