President Trump signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington,

Ark., was beaming as he left the House of Representatives chamber Thursday afternoon. After years of committee hearings and behind-the-scenes work -- plus a brief disruption from some House Republicans this week -- the House approved three measures aimed at establishing modern regulations for cryptocurrencies and other digital assets.

On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

Stocks tied to crypto trading gained as well. Coinbase rose 4%, hitting an all-time intraday high surpassing its initial pop on its IPO date in 2021, and pacing for its fifth positive week in a row. Robinhood also added 4%. Ether treasury stock Bitmine Immersion continued its rally, jumping 12% Friday.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

By Niket Nishant and Manya Saini (Reuters) -U.S.-listed crypto stocks jumped in premarket trading on Friday as bitcoin surged to a record high in the run-up to a landmark week that could cement policy wins for the crypto industry.

CNBC’s MacKenzie Sigalos reports on the technical and structural forces behind bitcoin’s rally to new all-time highs — including a massive short squeeze, growing institutional adoption and fresh momentum out of Washington as lawmakers take up a slate of pro-crypto bills.

Shares of Robinhood surge nearly 200% from all-time lows, boosted by bullish analyst calls, rising earnings forecasts, and a wave of pro-crypto sentiment from Washington.

One in five of Trump’s closet allies hold significant cryptocurrency assets - Several cabinet members, including Vice President JD Vance and Treasury Secretary Scott Bessent, have all reported persona