Circle

0 in Finance and 20 in Crypto last week

Circle Plans Native USDC Launch on Hyperliquid’s HyperEVM

Circle is preparing to launch a native version of its USDC stablecoin on Hyperliquid’s Layer 1 chain, HyperEVM. The move signals deeper integration between the stablecoin issuer and the dominant perpetual exchange platform. This development comes as Hyperliquid prepares to launch its own native stablecoin, USDH, potentially creating competition.

  • Hyperliquid currently relies on $5.77 billion in USDC supply, representing about 8% of all circulating USDC
  • Circle CEO Jeremy Allaire stated the company intends to be 'a major player and contributor' within the Hyperliquid ecosystem
  • A migration to Hyperliquid's native USDH stablecoin could cost Circle approximately $200 million in annual revenue
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Circle Stablecoin

Gemini IPO Surges 50% on Nasdaq Debut, Hits $1.3B Valuation

Gemini made a spectacular Wall Street entrance on September 12, with its stock price soaring over 50% during initial trading hours. The crypto exchange’s Nasdaq debut under symbol GEMI demonstrated strong investor appetite for digital asset exposure. The company reached a market valuation of approximately $1.3 billion by midafternoon.

  • Raised $425 million through IPO, exceeding original $17-19 price range with final offering above $24-26 expectations
  • Part of 2025 crypto listing wave including Circle's NYSE debut and Figure Technology Solutions' successful IPO
  • Demonstrates renewed Wall Street interest in digital asset equities after period of market volatility
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CircleSEC

Altcoins Surge as Fed Rate Cut Hopes Fuel Crypto Rally

Major altcoins including BNB, Dogecoin, and Solana surged significantly on Friday, with BNB reaching a new all-time high. The rally was fueled by Bitcoin and Ethereum hitting monthly peaks and growing investor optimism about potential Federal Reserve rate cuts. This bullish momentum reflects broader positive sentiment in crypto markets amid favorable macroeconomic conditions.

  • BNB achieved a new all-time high above $926, marking a 70% increase over the past year and nearly 9% gain in the last week
  • Bitcoin and Ethereum reached their highest prices of September at $116,331 and $4,675 respectively, driven by sustained ETF inflows
  • Gemini debuted on Nasdaq with a $4.4 billion valuation, opening at $37.01 per share representing a 32% premium to its IPO price
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Gemini Soars 40% in Nasdaq Debut Despite Losses

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, made a spectacular Nasdaq debut with shares surging nearly 40%. The IPO raised $425 million, valuing the company at approximately $3.3 billion. Despite the strong market reception, the company continues to report significant financial losses.

  • Gemini's IPO priced above range at $28 per share, raising $425 million with initial $3.3B valuation
  • Company reported $159M net loss in 2024 and $283M loss in first half of current year per SEC filings
  • Winklevoss brothers hold over $2B in crypto assets and predict Bitcoin could reach $1M within decade
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Tokenized Treasuries Hit $7.42B, Eye $10B by Year-End

Tokenized U.S. Treasury products on public blockchains have reached $7.42 billion in assets, with major growth driven by institutional entrants like Fidelity. The market is now on track to surpass $10 billion by December 2025, fueled by yield demand and improved blockchain infrastructure. Key players include BlackRock, WisdomTree, and Franklin Templeton, all leveraging Ethereum and layer-2 networks for scalability.

  • Fidelity's OnChain Treasury fund has reached $203.7 million in assets, custodied by BNY Mellon and recorded on Ethereum.
  • BlackRock leads tokenized treasury offerings with $2.20 billion, followed by WisdomTree ($832.3M) and Franklin Templeton ($752.3M).
  • Ethereum's EIP-4844 upgrade has reduced data fees for rollups, lowering minting and transfer costs for tokenized assets on L2s.
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Circle Launches Wallet-as-a-Service for Web3 Developers

Circle has launched a groundbreaking Wallet-as-a-Service platform that enables developers to seamlessly integrate Web3 wallets into their applications. The platform supports multiple blockchains and simplifies access to digital assets like NFTs and cryptocurrencies. This move represents Circle’s latest innovation in making digital asset management more accessible and secure.

  • Platform supports Ethereum, Polygon, and Avalanche with plans to expand to additional blockchains
  • Features pay-as-you-go pricing with decreasing costs as usage scales
  • Currently allows users to retain private keys with future updates planned for developer key access
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Circle Stablecoin

Crypto Bubble Fears Rise as Leaders Warn of Overvaluation

Industry leaders are sounding alarms about a potential cryptocurrency bubble, driven by recent regulatory shifts and market euphoria. Figures like Kraken’s Arjun Sethi and DCG’s Barry Silbert warn of unsustainable valuations and impending corrections. The warnings come amid Bitcoin’s rally to new all-time highs and a total crypto market cap surpassing $4 trillion.

  • Kraken's Arjun Sethi confirms short-term crypto bubbles occur frequently, noting quarterly market exuberance often leads to overvaluation
  • Barry Silbert of Digital Currency Group states 99% of cryptocurrencies are 'overvalued' and will eventually crash to zero
  • Elliott Management attributes bubble inflation to perceived White House endorsements under Trump and warns of broader economic risks if it collapses
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Gemini IPO: $3B Crypto Exchange Goes Public Friday

Crypto exchange Gemini is set to begin trading on Friday with its highly anticipated IPO. The offering of 16.67 million shares at $24-26 could value the company at over $3 billion and has been reportedly oversubscribed by 20 times. This marks another major crypto firm entering public markets following recent successful launches.

  • IPO priced at $24-26 per share, upsized from initial $17-19 range due to strong demand
  • Company reported $142.2M revenue in 2023 but $158.5M net loss, with losses accelerating in 2024
  • Part of recent wave of successful crypto IPOs including Circle, Bullish, and Figure
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Figure IPO Soars 24% on Nasdaq Debut, Hits $6.6B Valuation

Figure’s blockchain lending platform made a strong Nasdaq debut, closing at $31.11 per share with a 24% gain from its pre-sale price. The successful listing achieved a $6.6 billion market capitalization without the trading halts that plagued recent crypto IPOs. Institutional confidence in Figure’s tokenized credit model drove steady trading throughout the session.

  • Figure operates the first scaled institutional-grade on-chain lending platform with $12 billion in loans outstanding and $750 million in monthly originations
  • The company's blockchain technology reduces securitization audit costs by 80% per loan compared to traditional methods, delivering ~100 basis points in lifecycle savings
  • Figure controls 2.9% of the $406 billion US home equity line of credit market and targets $1.3 billion revenue with 40% EBITDA margins by 2027
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Circle

Figure IPO Soars 24%, Fuels Tokenization Narrative

Figure Technologies saw its shares surge 24% above its IPO price on Thursday, closing at $31.11. The blockchain-based lending platform’s successful debut signals growing Wall Street interest in crypto-native companies. Analysts view this as a significant step forward for mainstream adoption of asset tokenization.

  • Figure's blockchain platform reduces mortgage processing costs from $12,000 to $1,000 and cuts approval time from 45 days to just days
  • The company has originated $16 billion in loans since 2018 and currently maintains $11.7 billion in outstanding loans
  • This marks the ninth major crypto firm IPO in the U.S. this year, with Gemini scheduled to debut next day
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Circle Stablecoin