Circle shocks with IPO on the NYSE – Stock opens up 123%

Circle – the company behind the stablecoin #USDC has successfully raised 1.1 billion USD in its IPO, with an offering price of 31 USD/share, higher than initially expected.

CRCL stock opened at 69$ (+123%), briefly reaching nearly 89$, pushing the company's valuation over 18 billion USD.

The deal was extremely sought after: This IPO was oversubscribed more than 25 times the offered amount, making it the largest tech IPO of the year and a milestone for the stablecoin industry on Wall Street.