Sunrun's Return to Positive Cash Generation Could Take Time Amid Proposed End to Solar Tax Credits, RBC Says
Sunrun's (RUN) return to full-year positive cash generation could take time after the US Senate prop
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Yahoo
11 minutes ago
- Yahoo
Circle Rockets After Stablecoin Bill Clears Senate, Pushes Post-IPO Rally to Over 500%
Circle (NYSE: CRCL) soared 34% on Wednesday, adding another 6% after-hours, as the U.S. Senate passed a landmark bill laying the groundwork for regulated, dollar-backed stablecoins. The move pushed Circle's stock to $199.59 on Wednesday's closing, with a high of $211.87 in after-hours trading. The stock is now up over 540% since its June 5 debut, marking one of the fastest climbs for a crypto stock after opening to the public. The GENIUS Act outlined how U.S. firms can issue and manage fiat-backed stablecoins for payments. It still needs House approval and President Donald Trump's signature, but the Senate vote signals strong bipartisan support for bringing crypto payments into the U.S. regulatory perimeter. 'History is being made,' Circle CEO Jeremy Allaire said on X, calling the bill a breakthrough for American competitiveness. Trump, in a Truth Social post, said the bill would make the U.S. the 'undisputed leader in digital assets.' 'The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS,' Trump's Truth Social post reads. 'Digital Assets are the future, and our Nation is going to own it.' Circle, the issuer of USDC, currently the world's second-largest stablecoin by circulating value, has long pushed for clear rules around crypto dollars. Wednesday's rally reflects investor confidence that Circle will be the chief beneficiary if the U.S. formally embraces stablecoins as digital cash equivalents. Volume surged to over 60 million shares, nearly 2 times the average. CRCL traded between $148 and $200.89 on the day. Its market cap now sits above $48 billion, dwarfing several legacy payments firms. Bernstein analysts, who initiated coverage on CRCL earlier this week, said the bill would 're-shore stablecoin innovation' and draw activity back from offshore issuers to regulated U.S. players. 'The bill clearly defines stablecoins as payment stablecoins,' said analyst Gautam Chhugani, 'making their legal treatment closer to digital cash—and opening the door to mainstream adoption beyond crypto rails.'
Miami Herald
20 minutes ago
- Miami Herald
Circle stock goes parabolic after Capitol Hill surprise
The regulatory chickens finally came home to roost yesterday, and Circle stock shot up in tandem. It's been a crazy few weeks for Circle Internet (CRCL) -marked by a monster IPO, bullish vibes from regulators, and some bold moonshot talk. Don't miss the move: Subscribe to TheStreet's free daily newsletter Yesterday's regulatory breakthrough, though, was arguably Circle's biggest win yet, potentially echoing through the crypto space for years. The development adds fresh legitimacy to Circle Internet's push to make digital dollars mainstream. Bloomberg/Getty Images For years, we've seen stablecoin issuers tiptoe through a maze of state regulations and uncertain federal guidance. Related: Circle's stock price surges after stunning CEO comment This patchwork has forced companies and customers to contend with random enforcement actions, unexpected shutdowns, and hefty compliance costs. Without clear guidelines at the federal level, even the biggest issuers hesitated to pursue partnerships with traditional banks or savvy money investors. However, yesterday's regulatory developments will likely transform stablecoins from experimental tokens into trusted components of the financial system. With uniform guidelines, banks and fintech firms can feel much more confident about integrating stablecoins like USDC into their platforms. That opens the door for billions of dollars in on-chain transactions previously stalled by uncertainty. Meanwhile, issuers like Circle Internet, boasting solid audit practices and transparent reserve models, stand to gain immensely. More Circle Internet Stock News: Circle rockets 124% at open as IPO demand goes wild Stablecoin issuer Circle files to go public - Crypto Quantum computing stock price slips after 3rd double-digit pop in June Circle Internet and its crypto peers went on a tear yesterday, after the Senate passed the GENIUS Act in a sweeping 68-30 vote. The landmark legislation offers a clear regulatory framework for stablecoins, bolstering the legitimacy of the crypto space. Related: Wall Street rallies behind Marvell Technology stock after blockbuster AI showcase It now moves to the House for potential adjustments. It will then head to President Donald Trump, who wants the bill passed before August. "This bill will cement U.S. dollar dominance, protect customers, increase demand for U.S. Treasuries, and ensure that innovation in the digital asset space is in the hands of the U.S., not our adversaries," Sen. Bill Hagerty (R-TN), the bill's sponsor, said. Some Democrats slammed the bill, calling it a fast track for Trump-era crypto corruption. Senator Elizabeth Warren, in particular, called it a "super highway" for shady dealings. In a related move boosting Circle stock, Coinbase will use USDC as collateral for U.S. futures trading-an industry first. The shift likely brings Circle's stablecoin deeper into the mainstream, just as Washington is backing crypto. For context, this Senate vote effectively pays off months of quiet grinding. It started in March, when Senate Banking went down to brass tacks on the GENIUS Act. By May, things hit a wall. Cloture (a process for ending debate to take a vote) failed, with the Democrats linking the bill to Trump's personal crypto plays. Then came the pivot. Trump, proclaiming himself the "crypto president," launched his own $TRUMP coin and put his AI and crypto czar into the spotlight. By mid-June, the bill sailed through with 68 votes, igniting a massive rally in Circle stock. Called it, by the way. Circle stock rocketed almost 34% yesterday, jumping from roughly $149 to close at $199.59. In after-hours trading, the stock continued its ascent, tacking on another 6.1% to reach $211.87, posting a new 52-week high. To put things in perspective, Circle stock has soared since its IPO back in early June, jumping 70% in the past week alone. Related: OpenAI's Altman slams Mark Zuckerberg, ignites drama The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
The Hill
24 minutes ago
- The Hill
To fulfill their promises to voters, Republicans must govern like Democrats
Say this about Democrats: They know how to pass their agenda much faster than Republicans. Four-and-a-half months into the second Trump administration, Republicans have achieved next to nothing legislatively, despite its total control of Washington. Sure, President Trump has issued a slew of executive orders, but all of them will be repealed the moment a Democrat wins the White House. Laws are what really matter and stand the test of time. And despite endless talk about the 'One Big Beautiful Bill Act,' Republicans are still weeks away from passing it. There's a decent chance they won't even be able to do it. Compare this Republican failure to Democratic success exactly four years ago. By this point in the Biden administration, he and Democratic majorities in Congress had already passed a major bill on a much faster timeline. The American Rescue Plan was a $1.9 trillion monstrosity that rewarded leftist special interests, trapped millions of people on welfare and stifled a stronger economic comeback — all while making America's mountain of debt even higher. Democrats showed the same speed the last time they controlled the White House and Congress. In 2009, they passed the American Recovery and Reinvestment Act — another pork-barrel, debt-heavy, anti-growth monstrosity — within a month of President Obama's inauguration. And that's just one of many big laws they had passed by this point. Democrats clearly felt the need to act — to show voters they would do what they promised. What are Republicans waiting for? Unlike Democrats, they have the benefit of supporting an agenda that will strengthen America. They want to cut taxes for families and job creators, spurring a new era of entrepreneurship and growth. They want to cut spending and reform entitlements like Medicaid and food stamps, connecting welfare to work. And they want to secure the southern border, protecting Americans from crime while restoring the all-important rule of law. It's the understatement of the year to say these policies are urgently needed. They should have been passed yesterday — or perhaps Jan. 21, the day after Trump returned to the White House. But Republicans in Congress are too busy bickering. The infighting is coming from multiple sides. On the one hand are conservative purists who say that Congress isn't cutting spending or taxes enough. On the other side are moderates who want less aggressive cuts and more carveouts for issues like state and local tax deductions. Neither camp is huge, but both have enough members to stop legislation in its tracks. After months of squabbling, it's an open question whether the GOP can make everyone happy and pass their bill. In the first Trump administration, the answer was no. Their bill to repeal and replace ObamaCare — the party's signature policy — was in limbo through July. And when it finally came to the Senate floor for a vote, the Republican majority still couldn't pass it. Imagine if that happened again — if the 'One Big Beautiful Bill Act' goes down to defeat in a month or two, killed by the party that authored it. Guess what: Democrats have the same kind of divide, between relative moderates who want a slightly bigger government and wacko leftists who want outright socialism. But they still find a way to get bills across the finish line. In 2021, they had basically the same slim majority that Republicans do now, but they papered over the differences to move America dramatically to the left. Republicans are shooting themselves in the foot. I personally tend toward the conservative purist position. But you know what I like better than a perfect bill? A bill that can pass. A bill that moves America in the right direction. Tax cuts, spending cuts and welfare reforms that are good enough. I recognize that they can be improved, and hopefully will be improved the next time Republicans are elected. By any stretch of the word, Republicans have an exceptional bill. It does so much of what they want — so much of what America needs. Perhaps most important, it keeps so many promises to the American people. Voters aren't stupid. When they vote for change, they want to see change. And in 2024, they voted for an enormous change. Halfway through 2025, voters are still waiting for Republicans to keep their promises. They can certainly be pleased with much of what Trump has done unilaterally. But they're still waiting for the important reforms — the kind that only Congress can pass. Democrats govern when they get the chance, even if they move the country in the wrong direction. If Republicans don't get their act together, and fast, it may be a long time before the American people trust them again. John Tillman is CEO of the American Culture Project.
