Shares of the company (symbol: CRCL) opened at $31 and quickly surpassed $90, recording a gain of over 145% in just a few hours. The company raised $1.1 billion by selling 34 million shares. Even strong demand caused trading to be temporarily halted due to excessive volatility. The circle itself reinforces its position as a symbol of maturity in the cryptocurrency sector and gains strength in the face of U.S. regulation. CEO Jeremy Allaire celebrated this achievement, describing the initial public offering as a milestone.
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