Cryptocurrencies and several stocks tied to the ecosystem rose Wednesday as investors dismissed a snag in what was expected to be a winning week for crypto regulation. Bitcoin was last higher by 2% at $119,114.79, according to Coin Metrics, while ether rose 3% to $3,156.
Shares of stablecoin issuer Circle added more than 1% premarket and crypto services firm Coinbase gained about 1%, after both closed lower in the previous session. Ether treasury stocks continued their rally: BitMine surged 24%, while SharpLink jumped 14% and Bit Digital gained 5%.
On Tuesday, prices dipped briefly after the House failed to advance two key pieces of legislation for the crypto industry: the stablecoin bill known as the GENUIS Act, which has already passed the Senate, and the broader and far more complex market structure bill known as the CLARITY Act. Industry players including Coinbase hoped to see these bills move forward together, despite the latter one still awaiting a vote in the House.
Shares of stablecoin issuer Circle added more than 1% premarket and crypto services firm Coinbase gained about 1%, after both closed lower in the previous session. Ether treasury stocks continued their rally: BitMine surged 24%, while SharpLink jumped 14% and Bit Digital gained 5%.
On Tuesday, prices dipped briefly after the House failed to advance two key pieces of legislation for the crypto industry: the stablecoin bill known as the GENUIS Act, which has already passed the Senate, and the broader and far more complex market structure bill known as the CLARITY Act. Industry players including Coinbase hoped to see these bills move forward together, despite the latter one still awaiting a vote in the House.
