#CircleIPO A Crypto Milestone

Biggest Crypto IPO Since Coinbase

Circle, the issuer behind the dollar-pegged stablecoin USDC, priced its IPO at $31 per share, upsizing to 34 million shares and raising approximately $1.05 billion .

On its debut June 5, 2025, Circle’s stock opened at $69, soared to a high of $103.75, and closed at $83.23 — a whopping 168% jump, valuing the company at about $18 billion .

This blockbuster performance is gateway validation for crypto firms eyeing the public markets .

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Q2 Financials: Growth Backed by Volumes

In its first quarterly report as a public company:

Revenue surged 53% YoY to $658 million, exceeding expectations .

USDC circulation leapt to $61.3 B by June 30, then to $65.2 B by August 10 .

Despite this growth, the company posted a net loss of $482 million, driven by $591 million in IPO-related charges .

Adjusted EBITDA, however, came in strong at $126 million — $3M above analyst expectations .

Following earnings, Circle announced a new share offering (up to 10M shares), potentially raising $542M, fueling further expansion .

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Regulatory Tailwinds & Strategic Momentum

The passage of the Genius Act, a regulatory framework for stablecoins, injected confidence into the IPO and broader industry .

Circle is building strategic infrastructure: launching “Arc”, a blockchain network designed for capital markets, payments, and FX. A test rollout is planned for fall, with full deployment by year-end .

The company also launched the Circle Payments Network and forged partnerships with Corpay, Fiserv, and Binance to drive stablecoin adoption .

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Unexpected Winners & Caution Ahead

Oak Investment Partners emerged as a standout winner — their early $17M investment in Circle ballooned to over $3 billion valuation, marking one of the IPO’s most impressive returns .

Yet analysts caution that such dramatic post-IPO rallies are volatile. With lock-up expiration and speculative hype, some investors expect potential price corrections ahead .