Stablecoin giant Circle's increase expanded to 186%, hitting the circuit breaker again
06-05 17:02
Odaily News Circle Internet Group, a cryptocurrency issuer, and its shareholders who sold their shares raised nearly $1.1 billion in their initial public offering (IPO), after which the company's stock price soared 186% at the opening, triggering circuit breakers twice. Circle became one of the few pure cryptocurrency companies listed in the United States, including Coinbase, Mara Holdings and Riot Platforms. This is the company's second attempt to go public. Previously, its merger plan with a special purpose acquisition company failed due to regulatory challenges at the end of 2022. With the friendly attitude of the US government, the cryptocurrency industry is gaining new political support. In particular, the field of stablecoins has been accelerating due to expectations that Congress will pass stablecoin-related legislation this summer. Wall Street analysts say the stablecoin market could grow 10 times in the next five years, creating a trillion-dollar market opportunity. (Jinshi)
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