Shares of Coinbase Global surged to lead S&P 500 gainers Wednesday, a day after the Senate passed the GENIUS Act to set up federal boundaries for the use of stablecoins.

Coinbase's Q1 results were disappointing; revenue missed expectations, and subscription/services revenue slowed sharply.

What is the biggest US crypto news today? Bitcoin drops to $103,000 amid US-Iran Standoff, but the S&P 500 shows surprising stability.

Coinbase, now in the S&P 500, reflects mainstream acceptance, but tariff-induced market turbulence threatens its momentum.