Circle's Stock Price Soars Over Threefold on IPO Day, Bitcoin Plummets

On the evening of the 5th, Japan time, Circle Internet Group (CRCL), the issuer of the cryptocurrency stablecoin USDC, commenced its initial public offering, with its stock price surging to over $103.75. This represents a significant increase from the public offering price of $31.

Through this IPO, Circle raised approximately $1.1 billion (about 160 billion yen). The company and existing shareholders sold 34 million shares at $31 each, surpassing initial fundraising expectations. The price range was initially set between $24 and $26, later adjusted to $27 to $28, before finally being set at $31.

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