Circle Internet Group Inc.’s stock on Wednesday added to its two-week surge, after the U.S. Senate passed a bill called the Genius Act to set up a regulatory framework for stablecoins. Circle Internet the stablecoin issuer that went public on June 5,

Circle Internet Group shares surged Wednesday, a day after the Senate passed a bill that would set up federal boundaries for the use of stablecoins.

Shares of Circle Internet Group Inc (NYSE: CRCL), the issuer of the USDC stablecoin, continued their meteoric rise on Monday, hitting new highs in another volatile session. The rally extends a powerful run since the company's blockbuster IPO on June 5.