Circle shares (CRCL) surged by 34%, reaching a record $200.90, after the US Senate approved the GENIUS bill aimed at regulating stablecoins. This has not only acted as a catalyst for the growth of CRCL but is also seen by many as the beginning of a new era of public offerings for crypto companies.
GENIUS as a trust trigger
The GENIUS Act (Guidelines for Establishing National Innovation in US Stablecoins) introduces clear standards for stablecoin issuers: requirements for reserves, licensing, and federal oversight. For Circle, which issues $USDC , this means institutional recognition and a green light for scaling.
IPO Circle: Breakthrough or Bubble?
Since its IPO on June 5, CRCL shares have gained over 540%, becoming one of the most successful crypto debuts in history. But is this growth sustainable?
Institutional investors, previously hesitant due to regulatory risks, are now showing interest in the crypto sector. However, such a sharp rally may also be a reaction to positive news rather than a reflection of long-term sustainability of the model.
Who’s next?
If the trend continues, potential IPO candidates may include:
- Ripple - after resolving its lawsuit with the SEC;
- Chainalysis - a stable B2B platform for blockchain analysis;
- Anchorage Digital - a licensed crypto bank with an institutional focus;
- Ledger and Trezor - manufacturers of hardware wallets, gaining popularity amid the trend towards self-custody of assets.
The rise of CRCL reflects the maturing of the crypto market. The GENIUS law could be a turning point connecting Web3 with traditional finance. The question now is whether this will be a sustainable trend - or if we are merely witnessing a fleeting euphoria.
