#PowellRemarks Circle's IPO and Market Performance: Circle's initial public offering (IPO) has been successful, with its stock price surging 34% to close at $200 and gaining another 5% after-hours. The company plans to use the funds raised to further develop its stablecoin business.

- *USDC Supply Hits New High*: Circle's USDC supply has reached a record high of over $60 billion in circulation, driven by growing demand and adoption in both decentralized finance (DeFi) and traditional financial sectors.

- *Regulatory Developments*: The US Senate has passed a bill regulating stablecoins, which could help tokens like USDC gain more trust from institutions dealing in traditional financial instruments. Circle's CEO has also pushed for the scrapping of an SEC rule hindering banks from holding crypto.