Circle (CRCL) Debuts on NYSE
Circle's Successful NYSE Debut
Circle, the issuer of USDC, the second-largest stablecoin by market capitalization, commenced trading on the New York Stock Exchange (NYSE) on June 5th. CEO Jeremy Allaire announced the public listing of CRCL shares, marking a significant moment for the company and the broader cryptocurrency industry.
This public listing comes twelve years after Allaire and Sean Neville founded Circle with the goal of transforming the global financial system through internet-native technologies. Allaire emphasized that this is a major step in the transition to an internet-based financial system.
A Substantial IPO
Circle's IPO was upsized to $1.05 billion, exceeding initial projections. The company sold 34 million shares at $31 each, compared to the originally planned 24 million shares priced between $24 and $26. This successful IPO underscores investor confidence in Circle and the future of stablecoins.
Industry Recognition
The news garnered significant attention within the crypto community, with prominent figures such as Michael Saylor and Paul Grewal offering congratulations. This positive reception further highlights the significance of Circle's achievement.
Allaire expressed gratitude to everyone involved in Circle's journey, emphasizing the potential of this moment for the future development of the global economic system's integration with the internet.
Note: This is a developing story and will be updated as more information becomes available.
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