Why Circle Internet Stock Jumped 17% Today
Shares of Circle Internet Group (NYSE: CRCL) have been volatile in this so-called "crypto week" on Capitol Hill. For instance, the stock fell 4.6% on Tuesday as lawmakers stumbled over a procedural issue, probably delaying any votes on several cryptocurrency regulation bills.
But Circle's stock soared on Wednesday, gaining 17.1% by 1:25 p.m. ET. The procedural roadblocks may clear up today, perhaps getting the crypto week regulatory actions back on track -- and that's not all.
Beyond the new signs of progress on the pending crypto bills, the Trump administration is facing off against the Federal Reserve. Several news outlets said that Trump wants to fire Fed chairman Jerome Powell, whose careful management of interest-lowering moves doesn't always align with the White House's agenda.
Source Fool.com
