Coinbase Global Inc Sees Stock Price Surge Following Passage of “The GENIUS Act”
Coinbase Global Inc’s stock price has increased significantly following the Senate’s passage of “The GENIUS Act”, which supports stablecoin regulations. The company’s shares rose by a substantial amount.
Key Developments
- Coinbase plans to launch a stablecoin merchant payment product to rival traditional networks.
- The company has unveiled an American Express-backed crypto credit card for subscribers.
Company Statement
Coinbase Global Inc’s CEO, Brian Armstrong, has emphasized the importance of cryptocurrency in providing financial freedom. Armstrong has also stated that bitcoin may potentially become the world’s next reserve currency.
Stablecoin Market Growth
The stablecoin market has seen significant growth, surpassing the $250 billion mark in total supply.