Circle Soars in NYSE Debut Amid Surging Stablecoin Interest — But Not Everyone’s Cheering

Circle, the company behind the USDC stablecoin, made a dramatic entrance onto the New York Stock Exchange on June 5, with its stock skyrocketing 167% by market close.

Trading under the ticker CRCL, shares opened at $31 and ended the session at $82, peaking earlier in the day at more than double their starting price.

The IPO was met with overwhelming demand, boosted in part by reports that BlackRock was targeting a 10% stake and ARK Invest was considering a $150 million buy-in. That momentum prompted Circle to raise the offering to $1.05 billion, issuing 34 million shares to investors.

The strong debut underscores rising investor confidence in crypto infrastructure firms, particularly in the stablecoin sector, where USDC continues to gain adoption. Circle had delayed its public debut earlier this year due to economic uncertainty, but its entry now appears to have landed at just the right moment.

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Still, not everyone walked away satisfied. Arca CIO Jeff Dorman publicly criticized the IPO process in a now-deleted post on X, expressing frustration with what he described as a minimal allocation to one of Circle’s earliest supporters. He accused the company of sidelining longtime allies in favor of traditional finance players.

While Dorman’s remarks added some tension to an otherwise celebratory launch, the broader market response to Circle’s IPO suggests a new level of mainstream appetite for crypto-native businesses—particularly those offering dollar-backed digital assets.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.