$USDC Here's an update on USDC, focusing on the latest news as of **Friday, June 6, 2025**:
The biggest news surrounding USDC is **Circle Internet Financial, its issuer, successfully debuting on the New York Stock Exchange (NYSE) on Thursday, June 5, 2025**, under the ticker symbol **CRCL**.
Here are the key takeaways from this significant event and other recent developments:
Circle's Blockbuster IPO:** Circle's IPO was a major success, with shares priced at $31, opening at $69, and soaring to an intraday high of over $100 before closing around $83.23 on its first day. This reflects strong investor confidence in regulated stablecoins and the future of crypto infrastructure.
Market Cap:** USDC remains the **second-largest stablecoin** by market capitalization, with its circulating supply around **$61.5 billion** as of June 2025. This trails Tether (USDT), but USDC's growth has been noted, particularly among institutional users.
Regulatory Compliance and Trust:** Circle has actively positioned USDC as the "most trusted stablecoin" due to its emphasis on transparency, compliance, and being fully backed by cash, short-dated US Treasuries, and overnight US Treasury repurchase agreements. Coinbase CEO Brian Armstrong even publicly called USDC the "most trusted stablecoin" following Circle's IPO.
Regulatory Environment:** Circle's IPO comes amidst a push for clearer stablecoin regulation in the U.S. The **"GENIUS Act"** in the Senate, which aims to establish a federal framework for stablecoins, advanced with bipartisan support last month. Circle's long track record of compliance with regulations (including EU's MiCA framework and Canada's standards) is seen as a significant competitive advantage.
Institutional Adoption and Payments:** USDC continues to see increased adoption in DeFi, cross-border payments, and institutional use. Companies like Visa and PayPal are already using USDC for international transfers. Circle also recently launched the "Circle Payments Network" for instant stablecoin settlement for banks and digital wallets.
