- Circle Internet Group began trading on the New York Stock Exchange under the ticker CRCL.
- The stock price more than tripled from its $31 IPO and triggered multiple trading halts due to extreme volatility.
- Trading was paused three times soon after its debut under Limit Up-Limit Down (LULD) rules.
- Circle‘s IPO was oversubscribed, highlighting high demand and confidence in the company.
- USDC, the main stablecoin from Circle, reports a market cap of $61 billion and is seen as a benchmark in digital dollar adoption.
Circle Internet Group, the company behind the USDC stablecoin, started trading on the New York Stock Exchange on June 5, 2025. Trading for CRCL shares was halted several times soon after launch because the price rose rapidly and saw high volatility.
Shares in CRCL opened at $31 and surged to more than three times their initial price. The New York Stock Exchange paused trading three times within the first hour. These pauses were due to Limit Up-Limit Down (LULD) rules, which are designed to address excessive price swings and protect investors.
According to the NYSE, LULD halts happen when price movements or trading volume become abnormally high, similar to when GameStop (GME) experienced trading pauses during previous periods of meme stock volatility. Circle had previously attempted to go public in 2021 and later raised $1.1 billion before confirming its initial public offering was oversubscribed. The company has now been publicly listed after renewed efforts.
“Our transformation into being a public company is a significant and powerful milestone,” wrote Circle CEO Jeremy Allaire on X. At the time of writing, the market cap of USDC sits at $61 billion. The market cap reflects the total value of all USDC stablecoins in circulation.
James Toledano, COO of Unity Wallet, commented that “Circle’s upsized IPO reflects deepening institutional belief that stablecoins like USDC will play a foundational role in modern finance and is commensurate with USDC’s growth into a $64 billion behemoth.” He also said digital dollars give firms added advantages like faster settlement times.
Toledano added that the competition between private stablecoin issuers, like Circle, and central bank digital currencies is ongoing, with market-driven solutions gaining traction in the financial industry.
Editor’s note: This article was updated after publication with additional details.
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