Circle’s NYSE Debut
Circle (CRCL) shares surged during their first day trading on the NYSE. The company’s stock opened around $69 – more than double the upsized IPO price of $31 per share. Shares peaked at $103.75 before settling at $82 when the market closed, up 167% from the IPO price and about 20% from the opening price. Kraken and Gemini IPOs can’t come soon enough. Read more →
Why are people shocked by the CRCL price action?
Circle is going after the same market as Tether, which generates more profit than Goldman Sachs (and Goldman's worth $187 billion).
Circle is currently valued at $17 billion...
— #Ryan Rasmussen (#@RasterlyRock)
6:50 PM • Jun 5, 2025
Ethereum Foundation Sets Treasury Strategy to Back DeFi
The Ethereum Foundation just laid out a new treasury playbook. It will trim annual expenses from roughly 15% of reserves to 5% by 2030, step in during market slumps, and put idle capital to work in DeFi protocols. In short: less selling pressure, more yield, and clear disclosures. For ETH holders that means a leaner, more transparent steward whose ~$970 million war chest will be deployed more deliberately – just as the Foundation gears up for a “pivotal” 2025-26. Read more →
Big Tech <> Stables
More evidence the stablecoin moment is snowballing: Fortune says Apple, X, Airbnb and Google have begun early talks with crypto providers about plugging dollar–pegged tokens into their payment flows, mainly to slash card and cross-border fees. They join Meta and Uber, which have already signaled similar interest, underscoring how Big Tech now sees regulated stablecoins as a practical cost-cutter versus another web 8.0 crypto trend. Read more →
Trump-Musk spat sinks each man’s symbolic meme coin Link»
Meanwhile, becomes first company to publish audited financials denominated in bitcoin Link»
Coinbase stake in Circle now worth $700M Link »
Circle and Coinbase — a story of two public offerings Link »
Arca exec drops F-bomb on Circle in letter trashing its IPO Link »
