Circle and Coinbase lead the rebound in crypto stocks, progress on digital asset legislation

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Crypto.com.cn News: With progress on the U.S. digital assets bill, Circle (CRCL) and Coinbase (COIN) led crypto-related stocks higher as they rebounded on Monday. Circle, as the issuer of the USDC stablecoin, saw its share price rise 18%, while Coinbase, a crypto exchange focused on the U.S., climbed by about 7%. Digital-asset infrastructure companies such as BitGo (BTGO) also rose by around 10%. Bitcoin (BTC) broke above $80,000 during trading, reaching $80,416.63, lifting sentiment across the entire crypto market. Bitcoin is up nearly 2% over the past 24 hours, leading the CoinDesk 20 index higher by 1.2%. Under the latest compromise proposal for the bill, stablecoin issuers are prohibited from providing yield on idle balances, but are allowed rewards related to use and trading activity. This clarification is seen as a key moment as the bill nears passage. Markus Thielen said that with the stablecoin yield issue resolved, lawmakers are expected to move forward with formal review as soon as possible.

USDC0.01%
BTC1.28%
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