Overview

• Coinbase shares hit an all-time intraday high of $382 and lead the S&P 500 with a 44% gain in June
• Circle Internet Group’s stock resumed its post-IPO rally with an 8% jump after a two-day pullback driven by stablecoin demand
• The Senate approved the GENIUS Act to establish a federal stablecoin framework and lawmakers plan a CLARITY Act markup in September
• Under its revenue-sharing agreement with Circle, Coinbase earns roughly half of the interest on USDC reserves and has launched a USDC payments platform on its Base Layer 2 network with Shopify integration
• Inclusion in the S&P 500 and holdings by over 235 U.S.-listed ETFs underscore mounting institutional interest and support analysts’ bullish forecasts