Plasma’s $500 million vault raise coincided with major stablecoin developments: the US Senate advanced the GENIUS Act to regulate stablecoins issuance, and Circle’s USDC stock reportedly more than quadrupled after its NYSE debut

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Meanwhile, Circle, the issuer of USDC, the second-largest stablecoin by market capitalization according to CoinGecko, began trading on the New York Stock Exchange last Thursday, in a roaring success. CRCL soared to another new peak price Monday, more than quadrupling the initial offering price.

The United States Senate is attempting to pass a bill that would establish a framework for legally issuing stablecoins in the States, dubbed the GENIUS Act.