Circle IPO Underscores Investor Appetite For Crypto
Stablecoin issuer Circle Internet Group raised nearly $1.1 billion in its IPO, above its expected range, as investors grow increasingly attracted to cryptocurrencies.
Shares of Circle Internet Group more than tripled from its opening price of $31, raising $1.1 billion. The resulting increase in market capitalization is expected to fund expansion of its USDC stablecoin, which can be redeemed 1‑for‑1 with the US dollar.
Other recent IPOs in the crypto space signal growing momentum in the market. Crypto-focused firms such as Galaxy Digital alongside eToro, which operates a crypto-trading platform, have also gone public.
In June, the US Senate passed the GENIUS Act, a landmark federal bill that establishes a regulatory…
