Overview

• Circle’s CRCL shares opened at $69 on June 5 and climbed to as high as $123.51 on June 6, marking a fourfold increase on its $31 IPO price.
• The surge pushed Circle’s valuation to around $32 billion and surpassed opening gains of major tech IPOs like Airbnb and Robinhood.
• USDC stablecoin backing holds about $61 billion in market capitalization, and Circle derives nearly all its revenue from interest on those reserves.
• Visa processed $3.8 trillion in stablecoin transactions in the past month, demonstrating growing mainstream adoption of digital dollar tokens.
• The GENIUS Act passed a preliminary Senate vote to advance to a final floor vote on guidelines for stablecoin issuers.