June 5, 2025

Circle Shares Surge on NYSE Debut, Signalling Strong Appetite for Stablecoin Issuers

Tags:AI bitcoin Blackrock btc Circle Coinbase Crypto EU Finance Microstrategy Stocks Strategy Trading US USDC

Circle (CRCL) made its highly anticipated debut on the New York Stock Exchange (NYSE) on Thursday, with shares opening at $69 and surging to over $100 at one point, marking a...

Circle (CRCL) made its highly anticipated debut on the New York Stock Exchange (NYSE) on Thursday, with shares opening at $69 and surging to over $100 at one point, marking a more than 200% increase from the $31 price set the night before.

In its initial public offering, Circle sold approximately 34 million shares, raising $1.1 billion and achieving a valuation of $6.9 billion. This listing comes after previous attempts by the company, including a failed SPAC deal in 2021.

Ark Investment Management, led by Cathie Wood, expressed interest in purchasing up to $150 million worth of Circle shares, while BlackRock also plans to acquire 10% of the shares, as reported by SEC filings and Bloomberg.

Drawing comparisons to Coinbase’s volatile IPO on Nasdaq in 2021, where shares initially traded as high as $430 before dropping to $200 a month later, Circle’s debut was closely watched by investors. Despite this, other crypto-related stocks like Coinbase and MicroStrategy (MSTR) were trading lower on Thursday, along with bitcoin (BTC). Circle’s shares have since stabilized around $80 to $83 per share.

The IPO event occurred amidst a macroeconomic environment filled with uncertainty, with many companies reporting weak outlooks for the next quarter. However, Circle’s core business of issuing the USDC stablecoin has seen increased demand in 2025, partly due to progress in U.S. regulation surrounding stablecoins. Policymakers have been signaling closer steps towards establishing clearer rules, which could help promote and expand the use of stablecoins in mainstream finance.

A recent report by Deutsche Bank predicted that stablecoins are on the brink of becoming mainstream, citing their growing role in digital payments, cross-border settlements, and treasury management, while also reinforcing the dominance of the U.S. dollar globally. Circle’s IPO reflects investor confidence in this shift, betting not just on a crypto company but on stablecoins becoming integral financial infrastructure.

The debut of Circle’s shares on the NYSE signals a significant milestone for the company and the broader crypto industry, showcasing the potential for stablecoins to revolutionize the financial landscape.

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May 29, 2025

Blockchain / Crypto / Cryptocurrency / Equities / Exchange / Finance

Crypto Daybook Americas: Bitcoin, Ether Rise After Court Nixes Trump’s Tariffs

Tags:ADA AI America bitcoin btc Canada Circle Crypto Donald Trump ETH EU Finance libra solana Tariffs Trump US USDC

By SEO Writer for The Parrot Press Bitcoin saw a rise and stock index futures surged early on Thursday after a U.S. court invalidated President Donald Trump’s broad-based tariffs. This news...

By SEO Writer for The Parrot Press

Bitcoin saw a rise and stock index futures surged early on Thursday after a U.S. court invalidated President Donald Trump’s broad-based tariffs. This news was followed by Nvidia’s upbeat earnings report, boosting positive sentiment in the market.

Large Bitcoin wallets holding over 10,000 BTC have transitioned to selling from buying as the cryptocurrency nears its all-time high. Additionally, an increase in exchange deposits indicates selling pressure. The options market data hints at potential volatility leading up to Friday’s monthly settlement.

Ether, the second-largest cryptocurrency by market value, surged to $2,780, its highest level since February 24, supported by bullish signals from the derivatives market. The rise in the token’s price this week is attributed to SharpLink’s $425 million Treasury plan. Notably, U.S.-listed spot ether ETFs saw a net inflow of $84.89 million on Wednesday for the eighth consecutive day.

Canada-listed investment firm Sol Strategies has filed to raise up to $1 billion to boost its investment in the Solana ecosystem. Despite this, SOL remained flat at around $170.

In other news, TON, PEPE, and FLOKI led the market while FARTCOIN, PI, and JUP experienced the most losses. Open interest in TON perpetual futures surged by 33% to $190 million, reaching its highest level since February 18.

Stablecoin issuer Circle froze wallets connected to the Libra token containing millions in USDC. Metaplanet issued $21 million in bonds to finance more Bitcoin purchases.

In traditional markets, some investment banks suggested that Trump has alternative tools to bypass the court ruling on tariffs. Yields on longer-duration Treasury notes increased, indicating strength in the dollar. Stay tuned for more updates!

What to Watch:

Crypto:
– May 30: The second round of FTX repayments start.
– May 31 (TBC): Mezo mainnet launch.
– June 6, 1-5 p.m.: U.S. SEC Crypto Task Force Roundtable on “DeFi and the American Spirit”

Macro:
– Various economic releases and announcements scheduled for May 29-30.

Earnings:
– No significant earnings events in the near future.

Token Events:

Governance votes & calls:
– Various upcoming votes and calls for different tokens and platforms.

Unlocks:
– Schedule of upcoming token unlocks.

Token Launches:
– Information on upcoming token launches and deadlines.

Conferences:
– List of upcoming conferences and summits in the crypto and blockchain space.

Token Talk: An overview of major events and news in the token market.

Derivatives Positioning: Analysis of derivatives positions in the market.

Market Movements: Highlights of major market movements and performances.

Bitcoin Stats: Statistical data related to Bitcoin.

Technical Analysis: Insights into technical analysis of market trends.

Crypto Equities: Updates on crypto-related equities and their performance.

ETF Flows: Information on ETF flows related to Bitcoin and Ethereum.

Overnight Flows: Updates on overnight market movements and performance.

Chart of the Day: Featured chart highlighting market trends.

While You Were Sleeping: Summary of overnight news and developments.

In the Ether: A series of images illustrating various aspects of the cryptocurrency market.

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May 8, 2025

Crypto / Regulation

Senate Votes Against Advancing Stablecoin Bill, Delaying Process as Trump Concerns Fester

Tags:AI America Circle Crypto Donald Trump ETH Trump US USDC

The legislation in the U.S. seeking to establish regulations for stablecoins faced a setback on Thursday when Democratic resistance prevented it from moving into the debate phase. This bill, which aims...

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May 1, 2025

Blockchain / Crypto / Exchange / Finance

SEC Ditches PayPal’s PYUSD Probe, Removing Key Regulatory Hurdle for Its Stablecoin

Tags:AI Circle Communication Crypto ETH EU Finance ripple US

The U.S. Securities and Exchange Commission has concluded its investigation into PayPal’s dollar-backed stablecoin, PayPal USD (PYUSD), without taking enforcement action, the company announced. In November 2023, PayPal received a subpoena...

The U.S. Securities and Exchange Commission has concluded its investigation into PayPal’s dollar-backed stablecoin, PayPal USD (PYUSD), without taking enforcement action, the company announced. In November 2023, PayPal received a subpoena from the SEC Division of Enforcement regarding PayPal USD stablecoin, requesting documents. In February 2025, the SEC informed PayPal that it was closing the inquiry without enforcement action. This development marks the latest move by the SEC to drop investigations and lawsuits against crypto companies.

Stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar, have become a focal point in the regulatory debate surrounding cryptocurrencies. Regulators are questioning whether these instruments resemble securities or money market funds, leading to increased scrutiny on issuers such as Circle and Tether. PayPal’s involvement in the stablecoin space has attracted attention due to its size, brand recognition, and presence across traditional and digital finance.

The resolution of the SEC’s investigation is a positive development for PayPal as it continues to expand its blockchain-based payment offerings. The company launched PYUSD on Ethereum in August 2023 as a dollar-pegged stablecoin backed by short-term U.S. Treasury bills and dollar deposits, intended for use in peer-to-peer payments, commerce, and decentralized applications.

The news comes at a time when stablecoins are gaining popularity among both crypto and traditional finance companies. Ripple, Mastercard, Visa, Dutch bank ING, and Stripe are among the companies entering the stablecoin market. PayPal recently announced plans to offer U.S. users a 3.7% yield on balances of its PYUSD to compete in the growing stablecoin market. The company’s stablecoin currently has a market cap of $887 million, ranking it sixth among stablecoin issuers according to CoinMarketCap.

Overall, stablecoins are seen as a disruptive innovation in the payments industry, with the potential to revolutionize money transfers similar to how instant messaging transformed cross-border communication. As competition in the stablecoin space heats up, companies are looking to differentiate themselves and attract users by offering attractive yields and innovative features.

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April 28, 2025

Blockchain / Crypto / Exchange / Finance / Partnership / Review

Mastercard Unveils End-to-End Stablecoin Capabilities, Will Launch Card With OKX

Tags:AI Binance Circle Crypto Finance Trading US USDC

Mastercard has announced its expansion in the digital asset economy with the launch of new global capabilities to support stablecoin payments across its extensive merchant network. The payment giant is collaborating...

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April 4, 2025

Blockchain / Crypto / Stock Market

CoinDesk Weekly Recap: Bitcoin Holds Steady Amid Market Turmoil

Tags:AI bitcoin Circle Crypto ETH EU gold ripple S&P 500 solana US USDC

Last week was a challenging one for the stock market, as the S&P 500 saw a decline of over 6% in just five days. Despite this, Bitcoin managed to perform better...

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April 4, 2025

Crypto / Exchange

Crypto Daybook Americas: Bitcoin Reverses Gains as China Ramps Up Tariff Retaliation

Tags:AI America bitcoin btc China Circle Coinbase Crypto Donald Trump ETH EU Europe Japan Tariffs Trump US USDC XRP

By: The Parrot Press Major coins reversed early gains after Beijing stepped up trade tensions by announcing retaliatory tariffs following President Donald Trump’s Wednesday decision to impose additional levies on China...

By: The Parrot Press

Major coins reversed early gains after Beijing stepped up trade tensions by announcing retaliatory tariffs following President Donald Trump’s Wednesday decision to impose additional levies on China and other nations. Bitcoin dropped to $83,000 from $84,600, though the downside appeared limited, probably because the market’s worst fears have finally come true. Markets dislike uncertainty, and the anticipation of a looming threat often creates more anxiety and fear than the actual realization of that threat.

Since Trump took office on Jan. 20, markets have been wrestling with the threat of tariffs and a global trade war. That damped investor risk appetite, causing the BTC price to tumble from a record high over $109,000 to below $80,000 last month.

This week, Trump announced sweeping tariffs on 180 nations, with higher levies on China, the European Union and Southeast Asia. The effective U.S. tariff rate is now above the level of around 20% set by the 1930’s Smoot-Hawley Tariff Act.

This so-called tariffagedon moment marks the end of lingering uncertainty and could be liberating for markets, mainly because bond yields have dropped across the advanced world in the aftermath, pricing in disinflation. That’s contrary to the popular narrative that tariffs would lead to stagflation — high inflation plus low growth — forcing the Fed to keep interest rates elevated.

The yield on the benchmark U.S. 10-year bond yield has dropped below 4% for the first time since October and yields have fallen sharply in the U.K., Germany and Japan. Plus, oil has declined sharply this week on prospects of higher supply from OPEC countries.

All this bodes well for Fed rate cut bets and risk assets, including cryptocurrencies. The same can be said for Friday’s March jobs report, which, if it beats estimates, will likely be seen as backward-looking, failing to account for this week’s Trump tariffs, while a weak print will only add to Fed rate cuts.

With the major macro uncertainty behind us, the crypto market could return to focusing on positive developments, such as USDC issuer Circle’s IPO filing and technological advancements.

On Thursday, Coinbase Derivatives submitted documentation to the CFTC to self-certify futures for XRP. In addition, Ethereum developers chose May 7 as the date for the Pectra upgrade to go live on the mainnet.

Elsewhere, the SEC acknowledged Fidelity’s filing for a spot exchange-traded fund tied to SOL, which takes it closer to approval. A lot is happening within the industry, so stay alert!

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March 28, 2025

Blockchain / Crypto / Cryptocurrency / Finance / Partnership

CoinDesk Weekly Recap: Stablecoins, Stablecoins, Stablecoins

It was a tough week for cryptocurrency prices, as both BTC and ETH experienced declines. The CoinDesk 20 index, which covers 80% of the market, dropped 7% since the beginning of...

It was a tough week for cryptocurrency prices, as both BTC and ETH experienced declines. The CoinDesk 20 index, which covers 80% of the market, dropped 7% since the beginning of the week.

Despite the bearish trend in speculative assets, stablecoins saw significant volume this week. The U.S. House introduced a stablecoin bill, following a Senate version that was approved by committee the previous week. Wyoming, also known as “The Blockchain State,” is exploring the creation of its own stablecoin and is currently testing the concept on Avalanche, Solana, and Ethereum.

In other news, World Liberty Financial (WLFI), a financial protocol backed by Donald Trump and his family, announced the launch of its stablecoin (USD1) this week. Additionally, Fidelity Investments, a pioneer in traditional finance innovation in the crypto space, is in the final stages of launching its own stablecoin as part of a strategy to enter the tokenized bond market.

Circle, the issuer of the second-largest stablecoin (USDC), obtained a license to operate in Japan in partnership with local heavyweight SBI Holdings.

In Europe, Sam Altman’s World Network is in talks with Visa to link on-chain card features to a self-custody crypto wallet.

A senior staff member, Sam Hill, at Zodia Custody, has left the company and is returning to a role in traditional finance. Additionally, there has been a wave of senior staff departures at crypto prime broker FalconX.

The SEC continued its enforcement actions against crypto companies, with Immutable being the latest target. Meanwhile, the investigation involving Unicoin remains open, much to the CEO’s frustration.

The week also saw updates on MicroStrategy’s investment in bitcoin, with the company muscling up about $33 billion in bitcoin through various stock offerings. The SEC’s continued scrutiny of the industry was highlighted, and the surprise announcement of Trump Media launching its ETFs and ETPs with Crypto.com added an element of unpredictability to the week.

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