CRCL Down 2%, But Circle’s USDC Outgrows USDT Under Trump-Backed GENIUS Act
Circle Internet Financial Ltd. (NYSE:CRCL) is down over 2% to $133 on Wednesday, but a recent report indicates Circle’s USDC (CRYPTO: USDC) stablecoin has benefited from the GENIUS Act.
USDC Outpaces Tether Under Trump’s Policy Shift
According to data compiled by Protos, the market capitalization of USDC jumped by 59% since Donald Trump took office, outpacing the 32.5% growth of Tether’s USDT (CRYPTO: USDT).
In absolute terms, USDT’s market capitalization climbed from $138 billion to $183 billion, while USDC rose from $48 billion to $76 billion.
The GENIUS Act, introduced earlier in the term, aims to favor U.S.-regulated stablecoin issuers over offshore competitors like Tether.
Though not newly enacted, the policy’s ongoing implementation has reinforced expectations that Circle could see long-term benefits.
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