#CircleIPO
Circle Internet Group Inc. (NYSE: CRCL), the issuer behind the USDC stablecoin, made a stunning debut on the New York Stock Exchange—its stock soared over 168%, jumping from the IPO price of $31 to close at $107.70 on its first trading day.
The IPO raised approximately $1.1 billion, giving Circle a valuation of around $6.9 billion. This successful listing marks a major milestone for the company, especially after its failed SPAC merger attempt in 2022.
While the debut was strong, Circle still faces hurdles—most notably, the risk of falling interest rates, which could reduce revenue generated from USDC reserves primarily held in government-backed money market funds. Additionally, high distribution costs remain a challenge, as a large share of reserve income goes to key partners like Coinbase.
As of June 2025, USDC is still the second-largest stablecoin by market cap, behind only Tether’s USDT. Circle’s IPO cements its status as a major force in the rapidly evolving digital asset industry.
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