Circle Internet Group Inc., the issuer of the stablecoin $USDC , successfully raised $1.1 billion in an initial public offering (IPO) on the New York Stock Exchange (NYSE) on June 5, 2025. According to Bloomberg, demand for the shares exceeded supply by 25 times, allowing for the placement of 34 million shares at $31 each, surpassing the initial range of $27–28. This provided the company with a market capitalization of $6.9 billion, and with options and warrants, $8.1 billion.
The Circle IPO was a significant event for the crypto industry, demonstrating investor confidence in stablecoins, especially amid discussions about their regulation in the US. USDC, the second-largest stablecoin by market cap ($60 billion), is backed by dollar reserves and Treasury bonds. In 2024, Circle earned $1.7 billion from managing reserves, accounting for 99.1% of its revenue.
Analysts believe that the success of the IPO could encourage other crypto companies to go public, strengthening the positions of digital assets. Stay tuned for updates on how this will affect the market! Subscribe to #MiningUpdates
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