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Circle IPO soars, giving hope to more startups waiting to go public
The USDC stablecoin issuer ended its first trading day at a 167% jump from its $31 IPO price.
The IPO pop demonstrates public market investors’ interest in cryptocurrencies and stablecoins in particular amid the Trump administration’s supportive stance on crypto assets. The significant surge in Circle’s first-day trading could prompt institutional investors to set higher IPO prices for upcoming listings. Circle joins a growing list of companies whose IPOs are priced below their private market highs, including recent ‘down-round’ offerings from healthtech Hinge, contractor platform ServiceTitan, and social network Reddit.
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