Circle’s Blockbuster IPO Ushers in the Battle for the Buck
Circle Internet Group CEO Jeremy Allaire, center, rings the opening bell on the floor of the New York Stock Exchange on the day of the company’s initial public offering on June 5.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Emily Mason gives audience to some of the skepticism toward Circle’s blockbuster IPO performance.
Circle Internet Group Inc.’s shares have exploded since the firm’s public listing last week, with the price more than tripling from its IPO level and the company reaching an almost $24 billion valuation. Yet its blockbuster success is drawing skepticism from critics still wary of the cryptocurrency craze, as well as what should constitute a digital dollar.