Key Takeaways Coinbase shares soared after the Senate passed the GENIUS Act, a bipartisan bill that regulates and promotes the use of stablecoins.After bottoming out in early April, Coinbase shares trended higher before consolidating within a flag,

The bill still needs to clear the House, where a competing version splits regulatory authority among agencies including the Federal Reserve and Comptroller of the Currency. Coinbase earns all interest on USDC held on its platform and has seen stablecoin-related income surge 50% year over year.