Overview

• Circle’s stock surged 168% on its June 5 trading debut at $69 and climbed another 48% on June 6 to reach a high of $123.49.
• The IPO raised nearly $1.1 billion at a $31 offer price and lifted Circle’s market capitalization to about $32.1 billion on a fully diluted basis.
• Circle’s debut outperformed recent marquee tech listings such as Airbnb, Robinhood and Meta, signaling renewed investor appetite for public offerings.
• Most major crypto stocks, including Coinbase and Marathon Digital, declined on June 5 as investors prioritized Circle’s regulated stablecoin exposure.
• The Senate’s advancement of the GENIUS Act has provided clearer rules for stablecoin issuers, while analysts warn that Circle’s interest-driven revenue could face headwinds if rates fall.