2 weeks Ago
The stock was originally pitched at $31 a share; it opened for trading at $69 and closed at more than $83. A 168th percent gain in 1 day on a IPO is one of the greatest of all time.
Crypto and Stablecoins Get a White House Imprimatur The Biden administration chose not to endorse a recommendation from South Korea for additional regulation of the virtual assets. By Alan Rappeport and Jeanna Smialek Common types of virtual assets will not be subject to new regulations, the Biden administration said this month in a major announcement that resolved a question that had been hovering over the digital currency industry.
It is the first time a company dedicated to stablecoins and other crypto projects has gone public, a development that could pave the way for other companies that mint digital currencies tied to other assets to go public. Stablecoins, a form of digital currencies, are linked to a traditional currency like the euro or the dollar, and the I.P.O. could bring greater attention to them.
But as Circle's IPO grabs attention, other crypto outfits are also likely to follow suit and entertain IPOs.
Regulatory Pivit Paves Way For Crypto Growth
The United States' top new cryptocurrency regulator has tripled down on the government's recent commitment to involving the crypto space in developing new policy. She also announced last month that the entire crypto regulation portfolio would be reset, stating that memecoins and stablecoins would no longer face stronger regulation.
Evolving regulation is good news for both crypto companies and investors and further widening the field for growth and innovation in the digital asset space."
