From Yahoo Finance: 2025-06-09 16:13:00

Circle’s stock surged for a third day after its blockbuster IPO last week, jumping 15% to close at $115 per share, a premium of 270% above its debut price of $31. The surge follows bullish momentum in the crypto space, with the Trump administration’s friendly stance and stablecoin regulation in Congress. Circle, the issuer of the stablecoin USDC, had $60 billion worth of tokens in circulation at the end of the first quarter, making it the second-largest stablecoin issuer behind Tether.

The company generates revenue through “reserve income” from cash reserves backing USDC stablecoins. Publicly traded companies are increasing exposure to digital assets, with some following Strategy’s bitcoin treasury model. Bitcoin recently surged to all-time highs above $110,000, trading near $107,000 per token on Monday. Circle had previously attempted to go public via a SPAC deal in 2021 but shelved the plan a year later.

Read more: Circle stock gains 7%, extends gains for third day in a row since blockbuster IPO