Summary of key content:
• Circle (CRCL) – the issuer of USDC – officially listed on the NYSE on June 5, 2025.
• IPO price $31/share, far exceeding initial expectations, raising $1.1 billion.
• The company's valuation reached $6.9 billion. Led by JPMorgan, Goldman Sachs, Citigroup.
• Demand for stock subscriptions exceeded 25 times – a new record in the crypto industry.
In-depth perspective:
• BlackRock spent $340 million to buy a 10% stake – indicating the 'mainstreaming' of USDC.
• Coinbase sold $595 million in stock – reflecting the cautious sentiment of early investors.
• The IPO is not only a capitalization deal but also a milestone for the stablecoin industry to escape the 'legal gray area'.
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