FOREX NEWS & BLOG

Circle Shares Soar 235% on First Day of NYSE Trading

Circle Shares Soar 235% on First Day of NYSE Trading

June 5, 2025 10:31 pm |

Circle’s explosive stock market debut on Thursday has
delivered the first major public test of crypto’s payment infrastructure
ambitions. As the stablecoin operator behind USDC began trading
on the New York Stock Exchange, shares soared well above expectations, pushing
the firm’s valuation to nearly $19 billion and making its cofounder a
billionaire overnight.

Entrance to the Public Market

Circle Internet Financial Inc. (NYSE: CRCL) opened
trading at $69 per share, more than double its IPO price of $31, according to
Investing.com. By afternoon, shares climbed as high as $103.75 before
settling around $85, representing a 174% gain.

The offering included 34 million shares, 14.8 million of which came from the company and the rest from existing shareholders,
including CEO Jeremy Allaire.

The IPO raised more than $1 billion and saw major
demand from institutional investors. J.P. Morgan, Citigroup, and Goldman Sachs
led the offering, which was upsized twice due to intense interest. Investors
like BlackRock and ARK Investment Management reportedly bought into the deal.

First Stablecoin Issuer to Go Public

Circle’s IPO marks a significant milestone for the
digital asset industry. The Boston-based fintech becomes the first stablecoin
issuer to list publicly, signaling mainstream validation of blockchain-based
payment tools. USDC, Circle’s flagship product, is the world’s second-largest
stablecoin with $61 billion in circulation, second only to Tether.

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The company’s listing is also one of crypto’s most significant public
market events since Coinbase’s 2021 IPO. Thursday’s stock surge caps a volatile chapter in Circle’s history. In 2022, the company abandoned a $9 billion SPAC deal. In 2023, it reportedly temporarily lost
access to reserves during the collapse of Silicon Valley Bank, shaking
confidence in USDC.

Earlier this year, Circle reportedly turned down
acquisition offers from Coinbase and Ripple, valuing the company at around $5
billion. Instead, it chose to go public, likely betting on growing investor
appetite and improving regulatory clarity.

Meanwhile, Israeli fintech giant eToro debuted in May in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq. Meanwhile, Israeli fintech giant eToro debuted in May
in a much-anticipated Wall Street listing. Despite broader market
uncertainties, trading platform eToro delivered a strong performance on its
first day on the Nasdaq.

This article was written by Jared Kirui at www.financemagnates.com.

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Economic calendar in Asia 06 June 2025 … m’eh

Economic calendar in Asia 06 June 2025 … m’eh

June 5, 2025 9:49 pm |

more to come

  • This snapshot from the ForexLive economic data calendar, access it here.
  • The times in the left-most column are GMT.
  • The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com.

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US Treasury says no other country manipulates their own currency

US Treasury says no other country manipulates their own currency

June 5, 2025 8:54 pm |

U.S. Treasury says semi-annual currency report found no major U.S. trading partners manipulated currency to gain unfair trade advantage in four quarters through December 2024

  • No major trading partners met all three criteria for enhanced analysis during review period
  • Monitoring list of trading partners whose currency practices ‘merit close attention’ includes China, Japan, South Korea, Singapore, Taiwan, Vietnam, Germany, Ireland and Switzerland
  • Ireland, Switzerland added to monitoring list due to large bilateral trade surplus with U.S. and large global current account surplus
  • While China is not labeled a currency manipulator amid yuan depreciation pressure, China stands out among trading partners for lack of transparency on exchange rate practices and policies
  • Lack of transparency will not preclude Treasury from designating China if evidence suggests it is intervening through formal or informal channels to resist yuan appreciation in the future

The U.S. Treasury’s semi-annual currency report is an official document submitted to Congress that assesses the foreign exchange policies of major U.S. trading partners. Its primary focus is to determine whether any country is deliberately manipulating its currency to gain an unfair trade advantage—typically by undervaluing their currency to boost exports to the U.S. The report is mandated by the Omnibus Trade and Competitiveness Act of 1988 and the Trade Facilitation and Trade Enforcement Act of 2015, which require Treasury to monitor and analyze currency practices globally.

Each report typically reviews economies with significant bilateral trade surpluses with the U.S., material current account surpluses, and persistent one-sided currency intervention. Based on these criteria, Treasury may label a country as meeting enhanced analysis thresholds and place it on a “Monitoring List.” In more serious cases, a country may be formally designated a currency manipulator, though this is rare and politically sensitive. The designation can trigger bilateral negotiations and, potentially, sanctions if corrective action isn’t taken.

While the label “currency manipulator” gets the most attention, the report is also a key tool in the Treasury’s broader oversight of global macroeconomic imbalances. It provides detailed commentary on global FX trends, capital flows, and policy frameworks, and it often signals Washington’s diplomatic posture towards countries like China, Japan, Germany, and others with large external surpluses or tightly managed exchange rates.

This article was written by Eamonn Sheridan at www.forexlive.com.

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Elon takes off the gloves: Says Trump is in the Epstein files

Elon takes off the gloves: Says Trump is in the Epstein files

June 5, 2025 8:16 pm |

Elon is going nuclear with the Epstein accusation.

This divorce just got really nasty.

Trump is definitely taking away those subsidies now. The whole market is rolling over as the President of the United States and the world’s richest man fight.

Tesla shares are now down 16.5%.

This is incredible.

Elon now adds to his post: “Mark this post for the future. The truth will come out.”

The escalation of this is hard to fathom as this was literally yesterday:

This article was written by Adam Button at www.forexlive.com.

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