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Title: Stablecoin Issuer Circle Soars 168% In IPO Debut

Link: https://slashdot.org/story/25/06/05/215254/st...

Circle Internet Group surged 168% in its NYSE debut, raising nearly $1.1
billion after pricing its IPO at $31 and opening at $69. "At one point,
shares traded as high as $103.75," notes CNBC. From the report: The New York-
based company priced its IPO late Wednesday far above this week's expected
range of $27 to $28, and an initial range last week of between $24 and $26,
valuing the company at some $6.8 billion before trading began. Trading volume
by the end of the session was about 46 million, far exceeding the number of
freely floating shares available for trading. Circle joins Coinbase, Mara
Holdings and Riot Platforms as one of the few pure-play crypto companies to
list in the U.S. This marks the company's second attempt at going public. A
prior merger with a special purpose acquisition company collapsed in late
2022 amid regulatory challenges. "To realize our vision, we needed to forge
relationships with governments, we needed to work with policymakers ...
because if you want this to work for mainstream, it's got to work in
mainstream society and you need to have those rules of the road," CEO Jeremy
Allaire told CNBC's "Money Movers" on Thursday. "We've been one of the most
licensed, regulated, compliant, transparent companies in the entire history
of this industry, and that's served us well."

Read more of this story at Slashdot.

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