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Gemini eyes IPO as Circle flies 👀

Gemini eyes IPO as Circle flies 👀

Circle's stock kept climbing in its second day of trading, with crypto exchange Gemini perhaps inspired by the stablecoin giant's success.

Andrew Hayward
June 06, 2025

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📝 What you need to know

Stablecoin giant Circle’s stock price kept flying in Friday trading, rising to a price of nearly $124 in its second day of trading on the New York Stock Exchange—effectively quadrupling the original offering price.

Already we’re seeing the signs of IPO optimism whipping across the industry, with crypto exchange Gemini—run by the Winklevoss twins—announcing Friday that it confidentially filed a draft registration statement with the SEC, seeking to go public.

We could see other crypto firms make similar moves ahead, such as Kraken, which hasn’t been quiet about its own ambitions to launch an IPO. And the excitement around Circle’s smash debut may extend into the crypto markets, as well, with analysts telling Decrypt that the USDC issuer’s success could be bullish for Ethereum.

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(Sponsored post by WalletConnect)

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💬 Quote of the Day

❝

“IPOs bring a lot of attention.”

- Hashdex’s Gerry O’Shea on how the Circle IPO could benefit Ethereum and beyond

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