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Stock impact report

Circle's $36bn valuation sets incentive for more stablecoin issuers to go public [Yahoo! Finance]

Mega Matrix Inc. Class A Ordinary Shares (MPU) 
Company Research Source: Yahoo! Finance
Despite the volatility, the USDC issuer still trades at a whopping $36 billion valuation, up 115% from its public offering price. So, what's propping up Circle? Insatiable demand for stablecoins among Wall Street investors, according to Colin Butler, head of global financing at crypto treasury firm Mega Matrix. “Investors have an idea that this is a sector for exponential growth in a world that's starved for growth outside of artificial intelligence,” Butler told DL News “If you're underwriting exponential growth in stablecoins, you only have one way to play it as a pure play, and that's Circle.” ‘Financial plumbing' The soaring investor interest comes after US Treasury Secretary Scott Bessent predicted in June that US dollar stablecoins could grow to a $2 trillion market in the coming years. Bessent's comments, coupled with the passage of landmark stablecoin legislation in the US, sparked a stablecoin rush. Startups either issuing stablecoins or building the infrastr Show less Read more
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