Circle Gets Buy Rating After Senate Passes Stablecoin Bill

Circle signage during the company's IPO on the floor of the New York Stock Exchange in New York on June 5. — Circle signage during the company's IPO on the floor of the New York Stock Exchange in New York on June 5.
Photographer: Michael Nagle/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Monique Mulima

June 20, 2025 at 3:40 PM UTC

Updated on

June 20, 2025 at 8:07 PM UTC

Circle Internet Group Inc.’s shares jumped 20% on Friday after Seaport Global gave the stablecoin issuer its first buy rating in the wake of the US Senate’s move this week to pass legislation setting up regulatory rules for cryptocurrencies pegged to the dollar.

The company behind USDC, the second-largest stablecoin by market share, has seen its shares rise more than 600% since they started trading earlier this month.