Circle Internet is betting on wider use of its USDC digital currency, which is redeemable one-for-one with the U.S. dollar.

Cameron and Tyler Winklevoss, who founded Gemini in 2014, were among the most vocal critics of the regulatory clampdown on digital assets companies. Both became active supporters of Trump, contributing to his campaign and to a political action committee funded by the industry to support pro-crypto politicians in Washington.

Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.