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Circle, the issuer of the USDC stablecoin, made a blockbuster debut on the NYSE with shares surging 168% on its first trading day. The crypto-financial firm’s stock peaked at $103.75, far exceeding its IPO price of $31. BlackRock is reportedly planning to acquire a 10% stake in the company.
- Circle's shares (CRCL) opened at $69, up 168% from its $31 IPO price, and closed at $83.23 after peaking at $103.75.
- BlackRock, already USDC's reserve manager, plans to acquire a 10% stake in Circle, signaling institutional confidence.
- The IPO exceeded Circle's initial $28 target price, with analysts predicting long-term growth potential beyond the debut volatility.
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