The new price peak is roughly 6.5x the company’s initial public offering price of $31 set on June 5.
The GENIUS Act requires payment stablecoin issuers to hold reserves equal to outstanding tokens, restricts those reserves to cash or short-dated Treasuries, bars yield payments, and mandates segregated accounts.
Issuers with more than $10 billion in liabilities would need a federal charter; smaller firms could operate under qualifying state regimes.
The bill also orders the Treasury Department to release quarterly audit templates and grants the Commodity Futures Trading Commission limited oversight of spot markets.
Coinbase shares in that reserve income through a distribution agreement tied to balances custodied on its platform.
Circle’s close on June 18 lifts its market capitalization above $48 billion, ranking the new listing among the year’s strongest performers on the New York Stock Exchange.
