Circle begins NYSE trading after upsizing its IPO multiple times to meet strong investor demand for the USDC stablecoin issuer.
Circle, the issuer of USDC, the second-largest stablecoin by market capitalization, has commenced trading on the New York Stock Exchange (NYSE).
Circle’s CEO, Jeremy Allaire, announced the company’s public début of CRCL shares on the NYSE on June 5 on X.
The CEO stated that the company’s public listing occurred 12 years after Allaire and Sean Neville co-founded Circle to ” re-imagine and re-building the global economic system from the ground up natively on the internet.”
“Our transition to a public company is a significant and influential milestone; the world is prepared to begin upgrading and transitioning to the Internet financial system,” Allaire observed.
Significant Cryptocurrency Event
Circle’s public debut occurred soon after the company disclosed an additional increase in the size of its initial public offering (IPO) to $1.05 billion, which involved the sale of 34 million shares at $31 each.
Initial plans for the initial public offering included issuing 24 million shares between $24 and $26.
Allaire’s revelation regarding X has garnered the attention of prominent crypto community members, such as Michael Saylor, co-founder of Strategy, and Paul Grewal, chief legal officer of Coinbase.
They were among the first to congratulate Circle on their NYSE listing.
“Congratulations, Jeremy, to you and the entire CRCL team,” wrote Saylor.
“I am grateful to each individual, project, and firm contributing to this endeavor.”
“I am profoundly grateful and humbled,” Allaire stated in the announcement. She also added,
“This is not only a moment for each of us personally, I believe it’s a significant moment in the future development of our global economic system as it inexorably synthesizes with the internet.”
