Shares of Circle continued to climb on Friday as investors cheered the Senate approval of its proposed stablecoin legislation, the GENIUS Act.

This is the first legislative victory for the digital asset industry, which put around $250 million in the 2024 election cycle.

Coinbase and Circle rallied on Wednesday after the Senate passed the GENIUS Act, a bill that would legitimize U.S. dollar-pegged stablecoins under federal law.

Shares of Circle continued to climb on Friday as investors cheered the Senate approval of its proposed stablecoin legislation, the GENIUS Act.