Stablecoin Issuer Circle Soars 168% In IPO Debut (cnbc.com)
(Thursday June 05, 2025 @11:30PM (BeauHD)
from the beating-expectations dept.)
- Reference: 0177938914
- News link: https://slashdot.org/story/25/06/05/215254/stablecoin-issuer-circle-soars-168-in-ipo-debut
- Source link: https://www.cnbc.com/2025/06/05/stablecoin-issuer-circle-soars-in-nyse-debut-after-pricing-ipo-above-expected-range.html
Circle Internet Group [1]surged 168% in its NYSE debut , raising nearly $1.1 billion after pricing its IPO at $31 and opening at $69. "At one point, shares traded as high as $103.75," notes CNBC. From the report:
> The New York-based company priced its IPO late Wednesday far above this week's expected range of $27 to $28, and an initial range last week of between $24 and $26, valuing the company at some $6.8 billion before trading began. Trading volume by the end of the session was about 46 million, far exceeding the number of freely floating shares available for trading.
>
> Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S. This marks the company's second attempt at going public. A prior merger with a special purpose acquisition company collapsed in late 2022 amid regulatory challenges.
"To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers ... because if you want this to work for mainstream, it's got to work in mainstream society and you need to have those rules of the road," CEO Jeremy Allaire told CNBC's "Money Movers" on Thursday. "We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well."
[1] https://www.cnbc.com/2025/06/05/stablecoin-issuer-circle-soars-in-nyse-debut-after-pricing-ipo-above-expected-range.html
> The New York-based company priced its IPO late Wednesday far above this week's expected range of $27 to $28, and an initial range last week of between $24 and $26, valuing the company at some $6.8 billion before trading began. Trading volume by the end of the session was about 46 million, far exceeding the number of freely floating shares available for trading.
>
> Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S. This marks the company's second attempt at going public. A prior merger with a special purpose acquisition company collapsed in late 2022 amid regulatory challenges.
"To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers ... because if you want this to work for mainstream, it's got to work in mainstream society and you need to have those rules of the road," CEO Jeremy Allaire told CNBC's "Money Movers" on Thursday. "We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well."
[1] https://www.cnbc.com/2025/06/05/stablecoin-issuer-circle-soars-in-nyse-debut-after-pricing-ipo-above-expected-range.html
It could be sillier (Score:1)
by davidwr ( 791652 )
Adopt the leaf as legal tender.
Naming (Score:2)
by sunderland56 ( 621843 )
Stablecoin? So, literally a bunch of horse sh*t ???
Re: (Score:2)
by gweihir ( 88907 )
Yep. But people are stupid and mistake names for descriptions.
Incoherent (Score:2)
by sound+vision ( 884283 )
"We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well."
Funny, someone was trying to tell me it was the lack of regulation that makes crypto so special...
I got one word for you kid, fraud (Score:2)
by algaeman ( 600564 )
There's a great future in fraud. The fraud markets are going wild. It's a growth industry. Think about it, will you?
Someone lost out (Score:1)
When an IPO is under-priced, the insiders that get to buy at the IPO price gain at the expense of the company issuing the IPO.
The company would've been better if the IPO price was close to the opening price of $69.