Circle Soars in $1.1B NYSE IPO Amid Stablecoin Boom

Circle raised nearly $1.1 billion in its NYSE debut, opening at $69 per share and briefly surging to over $103 before closing above $80, valuing the company near $18 billion. The IPO signals renewed investor interest in crypto firms, buoyed by pending stablecoin legislation and pro-digital asset policies. Circle, issuer of the $62 billion USDC stablecoin, had previously scrapped a SPAC deal in 2021 and reportedly fielded offers from Ripple and Coinbase. The company posted $156 million in net income on $1.68 billion in revenue in 2024.