#CircleIPO

Circle Internet Group, the issuer of the USDC stablecoin, made a successful debut on the New York Stock Exchange under the ticker symbol CRCL. The company raised approximately $1.1 billion by selling 34 million shares at $31 each, boosting its estimated market capitalization to $6.9 billion. The IPO generated strong investor interest, with the initial share price surging by 124% to open at $69.50, later trading at $92.68. Circle's revenue has skyrocketed from $15 million in 2020 to $1.7 billion in 2024, primarily earned from interest on reserves, which include cash and U.S. Treasuries. The company's successful IPO signals growing investor confidence in the cryptocurrency sector and its integration into traditional finance.