Circle pushed markets into rally mode on Friday after its shares spiked 48%, extending the chaos it kicked off with a massive NYSE debut the day before.

In April, Bloomberg reported that Ripple had made an acquisition offer for Circle valued between $4 billion and $5 billion, which was reportedly rejected as undervalued. Ripple CEO Brad Garlinghouse later disputed the report in a conversation with Georgetown Law professor Chris Brummer.

Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

Circle’s IPO highlights crypto’s mainstream shift, with USDC driving revenue and new fintech services expanding its reach. Read why CRCL stock is a hold.

Stablecoin issuer Circle Internet's shares climbed 48% on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier.

Circle goes public as stablecoin adoption and regulation hit a key turning point. Can $CRCL prove resilient if interest income becomes less reliable?

Circle and its shareholders have increased the size and price of the company’s initial public offering, reflecting the apparent interest that investors have shown in owning a part of the USDC stablecoin issuer.

Circle Internet Financial is pushing forward with its public listing plans, now targeting a valuation of $7.2 billion as it gears up for an initial public offering.