Circle’s explosive stock market debut on Thursday has
delivered the first major public test of crypto’s payment infrastructure
ambitions. As the stablecoin operator behind USDC began trading
on the New York Stock Exchange, shares soared well above expectations, pushing
the firm’s valuation to nearly $19 billion and making its cofounder a
billionaire overnight.
Entrance to the Public Market
Circle Internet Financial Inc. (NYSE: CRCL) opened
trading at $69 per share, more than double its IPO price of $31, according to
Investing.com. By afternoon, shares climbed as high as $103.75 before
settling around $85, representing a 174% gain.
I am incredibly proud and thrilled to share that @circle is now a public company listed on the New York Stock Exchange under $CRCL!
12 years ago we set out to build a company that could help remake the global economic system by re-imagining and re-building it from the ground up… pic.twitter.com/okcH0ys6Tc
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 5, 2025
The offering included 34 million shares, 14.8 million of which came from the company and the rest from existing shareholders,
including CEO Jeremy Allaire.
The IPO raised more than $1 billion and saw major
demand from institutional investors. J.P. Morgan, Citigroup, and Goldman Sachs
led the offering, which was upsized twice due to intense interest. Investors
like BlackRock and ARK Investment Management reportedly bought into the deal.
The NYSE welcomes @circle in celebration of its IPO! For over a decade, Circle has connected traditional finance and digital assets, seeking to create a secure, always-on digital economy. $CRCL@jerallaire pic.twitter.com/YnHL34puz7
— NYSE 🏛 (@NYSE) June 5, 2025
First Stablecoin Issuer to Go Public
Circle’s IPO marks a significant milestone for the
digital asset industry. The Boston-based fintech becomes the first stablecoin
issuer to list publicly, signaling mainstream validation of blockchain-based
payment tools. USDC, Circle’s flagship product, is the world’s second-largest
stablecoin with $61 billion in circulation, second only to Tether.
You may also like: Musk Blasts GOP Megabill, Trump “Disappointed” by Sudden Fallout
The company’s listing is also one of crypto’s most significant public
market events since Coinbase’s 2021 IPO. Thursday’s stock surge caps a volatile chapter in Circle’s history. In 2022, the company abandoned a $9 billion SPAC deal. In 2023, it reportedly temporarily lost
access to reserves during the collapse of Silicon Valley Bank, shaking
confidence in USDC.
Earlier this year, Circle reportedly turned down
acquisition offers from Coinbase and Ripple, valuing the company at around $5
billion. Instead, it chose to go public, likely betting on growing investor
appetite and improving regulatory clarity.
Meanwhile, Israeli fintech giant eToro debuted in May in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq. Meanwhile, Israeli fintech giant eToro debuted in May
in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq.
Circle’s explosive stock market debut on Thursday has
delivered the first major public test of crypto’s payment infrastructure
ambitions. As the stablecoin operator behind USDC began trading
on the New York Stock Exchange, shares soared well above expectations, pushing
the firm’s valuation to nearly $19 billion and making its cofounder a
billionaire overnight.
Entrance to the Public Market
Circle Internet Financial Inc. (NYSE: CRCL) opened
trading at $69 per share, more than double its IPO price of $31, according to
Investing.com. By afternoon, shares climbed as high as $103.75 before
settling around $85, representing a 174% gain.
I am incredibly proud and thrilled to share that @circle is now a public company listed on the New York Stock Exchange under $CRCL!
12 years ago we set out to build a company that could help remake the global economic system by re-imagining and re-building it from the ground up… pic.twitter.com/okcH0ys6Tc
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 5, 2025
The offering included 34 million shares, 14.8 million of which came from the company and the rest from existing shareholders,
including CEO Jeremy Allaire.
The IPO raised more than $1 billion and saw major
demand from institutional investors. J.P. Morgan, Citigroup, and Goldman Sachs
led the offering, which was upsized twice due to intense interest. Investors
like BlackRock and ARK Investment Management reportedly bought into the deal.
The NYSE welcomes @circle in celebration of its IPO! For over a decade, Circle has connected traditional finance and digital assets, seeking to create a secure, always-on digital economy. $CRCL@jerallaire pic.twitter.com/YnHL34puz7
— NYSE 🏛 (@NYSE) June 5, 2025
First Stablecoin Issuer to Go Public
Circle’s IPO marks a significant milestone for the
digital asset industry. The Boston-based fintech becomes the first stablecoin
issuer to list publicly, signaling mainstream validation of blockchain-based
payment tools. USDC, Circle’s flagship product, is the world’s second-largest
stablecoin with $61 billion in circulation, second only to Tether.
You may also like: Musk Blasts GOP Megabill, Trump “Disappointed” by Sudden Fallout
The company’s listing is also one of crypto’s most significant public
market events since Coinbase’s 2021 IPO. Thursday’s stock surge caps a volatile chapter in Circle’s history. In 2022, the company abandoned a $9 billion SPAC deal. In 2023, it reportedly temporarily lost
access to reserves during the collapse of Silicon Valley Bank, shaking
confidence in USDC.
Earlier this year, Circle reportedly turned down
acquisition offers from Coinbase and Ripple, valuing the company at around $5
billion. Instead, it chose to go public, likely betting on growing investor
appetite and improving regulatory clarity.
Meanwhile, Israeli fintech giant eToro debuted in May in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq. Meanwhile, Israeli fintech giant eToro debuted in May
in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq.
