Circle Founder Is Billionaire as Crypto Firm Jumps After IPO

Jeremy Allaire during the Circle’s initial public offering on the floor of the New York Stock Exchange. — Jeremy Allaire during the Circle’s initial public offering on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/Bloomberg

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By Tom Maloney

June 5, 2025 at 5:57 PM UTC

Updated on

June 5, 2025 at 8:10 PM UTC

Circle Internet Group Inc. co-founder Jeremy Allaire saw his fortune surge to more than $1.7 billion Thursday after the company’s stock almost tripled in its first day of trading.

The stablecoin issuer sold shares at $31 each in an upsized public offering that raised nearly $1.1 billion. They jumped 168% to close at $83.23 in New York trading after several volatility halts.