Did Circle’s IPO kick off a ‘crypto’ IPO boom?
The post Did Circle’s IPO kick off a ‘crypto’ IPO boom? appeared on BitcoinEthereumNews.com.
Homepage > News > Business > Did Circle’s IPO kick off a ‘crypto’ IPO boom? On June 5, Circle (NASDAQ: CRCL), the company behind the USDC stablecoin, went public on the New York Stock Exchange (NYSE). Priced at $31 per share, Circle’s IPO was an overwhelming success. By the end of its first day, shares closed at $82.84, a 167% gain. The demand didn’t stop there. On its second day, Circle’s stock (CRCL) climbed as high as $118.21. By day three (June 9), it reached an all-time high of $120.96 before starting to cool off; in just its first three days, Circle shares were up roughly 256.44%. It’s clear that public markets have a newfound interest in cryptocurrency companies, and the crypto industry has taken note of this. With Circle’s debut opening the floodgates, many crypto companies seem to be gearing up for IPOs of their own now, riding what could be a wave of IPOs in the cryptocurrency industry that has been kicked off by Circle. Why are crypto companies filing for IPO now? If not now, then when? When most people start businesses, they dream of reaching a point where the company either generates enough revenue to maintain a sustainable business with respectable salaries, or they imagine a liquidity event like an acquisition or a public listing that turns their equity in the company into tangible money. Neither path is easy. For a company to successfully go public, the right market conditions and industry tailwinds need to line up. When it comes to crypto, we have reached a point where that perfect set of conditions seems to be in place. The biggest, arguably most important, factor for the cryptocurrency industry that has given the companies that operate within it a path to liquidity is regulatory clarity. The promise…
