Trump-Endorsed GENIUS Act Provided ‘Regulatory Clarity,’ Fueled Circle’s Strong Q3, Says CEO Jeremy Allaire
Jeremy Allaire, CEO of Circle Internet Group (NYSE:CRCL), said Wednesday that “regulatory” clarity provided by the GENIUS Act was one of the major reasons behind the company’s strong performance in the third quarter.
GENIUS Act Impact?
During Circle’s third-quarter earnings call, Allaire was asked about the USDC’s (CRYPTO: USDC) market share increasing to 29% from 28% in the prior quarter, and whether the passage of the GENIUS Act helped boost the stablecoin’s demand.
“We saw very strong growth in Q3. I think that growth has come from, yes, the regulatory clarity,” he responded.
Allaire added that technological advancements also played a big role, and together, these factors led to more market activity, leading to the adoption of stablecoin by major financial institutions, payment firms, neo banks, and large enterprises.
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