Circle co-founder Jeremy Allaire becomes billionaire as crypto firm’s stock soars on debut
Jeremy Allaire, co-founder of cryptocurrency company Circle Internet Group Inc., saw his wealth soar to over $1.7 billion on Thursday as the company’s stock nearly tripled on its debut trading day.
The stablecoin issuer priced its shares at $31 each in an expanded initial public offering, raising close to $1.1 billion. The shares surged 168%, closing at $83.23 in New York trading, despite multiple volatility halts, according to Bloomberg.
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Jeremy Allaire (4th from L), CEO and co-founder of Circle Internet Group, the issuer of one of the world’s biggest stablecoins, reacts as he rings the opening bell, on the day of the company’s IPO, in New York City, U.S., June 5, 2025. Photo by Reuters |
Allaire, 54, who offloaded approximately…
