Cathie Wood’s Ark Invest sold a combined 300,108 shares of Circle Internet Group on Tuesday across three of its ETFs, continuing to take profit for a second day in a row, this time to the tune of $44.7 million.

The GENIUS Act is a proposed bill that regulates one type of cryptocurrency called stablecoins, a $200 billion part of the multi-trillion-dollar cryptocurrency system. The bill’s name stands for Guiding and Establishing National Innovation for U.

Sen. Adam Schiff (D-Calif.) plans to introduce a new bill banning presidents from issuing crypto, but not before the Senate passes a crypto bill that omitted similar language.

The Senate is poised to pass the GENIUS Act regulating stablecoins, a key form of cryptocurrency, aiming to increase legitimacy and consumer confidence. The bipartisan bill faces criticism for not addressing President Trump's financial involvement in crypto.

Senator Warren warned the GENIUS Act could let tech billionaires create stablecoins that track people’s spending.

The U.S. Senate, once a pit of quicksand for industry-friendly cryptocurrency legislation, is poised to hand digital asset firms one of their biggest lobbying wins ever later this afternoon.

US could be the epicenter for stablecoins with the proposed GENIUS Act, making them a mainstream financial rail for the internet, says Bernstein.

Amazon’s efforts to develop a stablecoin are still in the “early stages,” according to the Journal, and there are a lot of questions to sort out. There have reportedly been discussions to use outside stablecoins to settle transactions, but there’s also the possibility the online giant could develop its own.