Circle Internet stock surged Wednesday. This followed a Reuters report that the White House scheduled a meeting with banking and crypto executives. The summit, planned for Monday, focuses on advancing stalled crypto legislation, particularly concerning stablecoins.
Investors reacted positively because Circle issues the USDC stablecoin. Legislative progress in the United States is critical for the company's future growth and regulatory clarity. A recent analyst upgrade also supported the stock's upward movement. Mizuho issued the upgrade a day prior.