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The share price of crypto and fintech company Circle Internet Group (NYSE: CRCL) is rising yet again today in early market trading. After the stock jumped over 33% on Wednesday (markets were closed for Juneteenth on Thursday), shares in the newly publicly traded company were up as high as another 15% in premarket trading this morning. And you can thank the U.S. Senate for that. Heres what you need to know. What is Circle? Circle Internet Group, better known as Circle, is a fintech company that offers a range of financial products. Circle was founded in 2013 as a Bitcoin payments processor. The company currently offers a range of fintech developer services, including digital wallets and blockchain transfer solutions. However, Circle is best known for its two stablecoins, USDC and EURC. Stablecoins are a type of cryptocurrency that is much less vulnerable to wild price swings because a stablecoins price is tied directly to a real-world asset. In the case of the USDC stablecoin, its value is tied directly to the U.S. dollar. Circles EURC stablecoin is tied to the value of the Euro. Stablecoins thus help provide investors with stability while still allowing them to invest in crypto assets. In terms of market cap, USDC is currently the seventh most valuable cryptocurrency with a value of over $61 billion. The most valuable stablecoin in terms of market capitalization is Tether, which has a total valuation exceeding $155 billion. Cryptocurrency king Bitcoins market cap is currently north of $2.1 trillion. In March 2024, Fast Company named Circle as one of its Most Innovative Companies based on the impact its stablecoin was having on the crypto industry. Why is CRCL stock rising today? Shares in Circle Internet Group were at one point trading over 15% higher in premarket trading this morning. Some of those gains were lost when the markets opened, but currently, CRCL stock is still up over 12% in early market trading. That follows an impressive 33% rise in the stocks price on Wednesday. So why is Circle popping today? Well, you can thank the U.S. Senate. The congressional body passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) on Tuesday. The act is the first to seek regulation of stablecoins. Its passage would establish a regulatory framework for stablecoins, further legitimizing the digital tokens and integrating them more closely within the U.S. economy. Such a move would likely only benefit stablecoin providers, like Circle. The GENIUS Act would also benefit stablecoin investors because it would require that stablecoins be backed by liquid assets, including U.S. dollars or short-term Treasury bills, notes Reuters. Issuers of stablecoins would also be required to disclose their reserves composition on a monthly basis, leading to greater transparency. Circle stock price may depend on House now However, while Circle investors continue to cheer the Senates passage of the GENIUS Act on Tuesday, the act may still not become law. Thats because it now must go to the House for approval. And as Reuters notes, various groups, including the Conference of State Bank Supervisors, are calling for critical changes to the bill. If the bill stalls in the House, or is killed, CRCL stock may give back some of the gains it has made this week. But as of today, Circles stock price run has been nothing short of impressive. Circle Internet Groups initial public offering (IPO) was held just over two weeks ago on June 5. Since then, the price of CRCL stock has surged a staggering 589%. The IPO price of CRCL was $31 per share. As of the time of this writing, CRCL shares are trading at over $225 per share.
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E-Commerce
Rather than the Sunday scaries or toxic bosses, employees have unlocked a new workplace fear: office chair butt. While not a new concern, the term has resurfaced on TikTok to describe how sitting for long stretches affects the look of your behindwhat medical professionals call atrophy of your gluteal muscle group. A lack of conditioning in your gluteus maximus and surrounding tissue leads to weakness, making it build up fat tissue and appear flatter or saggy, occupational therapist Michael Milicia told the Cleveland Clinic. And its not just an aesthetic issue. Other symptoms of office chair butt can include poor posture, lower back pain, and limited mobility over time. Theres a reason researchers have dubbed sitting the new smoking, linking chronic sitting to serious health problems including heart disease, cancer, diabetes, depression, and anxiety. Now, the term has gone viral on TikTok. And theyre not taking it sitting down. I refuse to be a victim, posted one TikTok user, showing the routine of squats, lunges, and standing leg lifts she performs at her desk. I dont think youre in danger, one person commented. @dan.paulaa I wil not fail my glutes #gymtok #fitness EoO – Bad Bunny No office chair butt for us, another user posted, leading her coworkers through a series of exercises. The video quickly inspired others: Just saw this while at work and immediately put my desk to standing, read one comment. @nikkiiim aw hell nah #fyp #officechair #deskchair #corporatelife #workoutmotivation #corporatetiktok #corporatehumor #lmao Bunna Summa – BunnaB Since most workplaces dont come with a fully equipped gym, employees have gotten creative. Some use the office escalator as a makeshift StairMaster. One video shows an employee swapping out traditional weights for a water cooler while performing Bulgarian split squats. Me every 30 minutes when I find out what office chair butt is, another TikTok user wrote, running up and down stairs and doing laps around a conference room. @krystinamaysonet I REFUSE TO FALL VICTIM! sooo its actually a thing, I was legit shook. You wont catch me sitting during a shift again #officelife #gymtok #officechair #playboycarti #fyp #parati #lilyachty #future #glutesworkout som original – Trap Music Fun If youre reading this: Give me 10 squats. Stat.
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E-Commerce
If youve spent any time reading the news, listening to the radio, or talking to just about anyone, you know that a big heat wave is expected to make its way across the United States. But you might not be able to expect much help from the federal government if you want to monitor heat-related risks. The Centers for Disease Control and Prevention (CDC) appears to have stopped updating part of its Heat & Health Tracker. The top of the page reads, This website is no longer being maintained, and no new data will be added. Fast Company has reached out to the CDC for comment and will update this post if we hear back. The Heat & Health Tracker allowed users to gather information about their county, such as daily heat-related illness rates. The map rated each area from little to none to extreme based on emergency department visits due to heat-related illness. The map currently only displays information up until May 21, 2025. Some functions are still working Despite the websites statement that no new data will appear, some of the Heat & Health Trackers information is still up to date. The HeatRisk tool, which is sourced by the National Weather Service (NWS) and the National Oceanic and Atmospheric Administration (NOAA), was still showing updated data as of Friday. Notably, in May NOAA stopped tracking weather disasters brought on by climate change after decades of doing so. As of publication, visitors to the site can still plug in their zip code and see todays HeatRisk, air quality, and actions they can take to protect their health. It also shows the HeatRisk forecast for the next six days. The HeatRisk map, launched last year, does come with a disclaimer stating, HeatRisk is an experimental product and is not supported 24/7. Changes may occur without advance notice. Under President Donald Trumps second administration, government resources and funding have disappeared left and right. On Tuesday, the Trevor Project received notice that the national suicide hotline must close its LGBTQ+ youth services by July 17. Since 2022, the nonprofit for LGBTQ+ suicide prevention group has worked with the Department of Health & Human Services (HHS) to support individuals who contact the 988 Lifeline. The government has also taken steps to remove potentially lifesaving information about topics like vaccines, sexually transmitted diseases, and dementia.
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E-Commerce
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