Circle Stock Breaks Record 

Circle Internet Group went public on June 5 at $31 per share. The stock rose 168% on its first trading day, attracting significant investor interest. By the morning of Monday, June 23, CRCL reached $298. This pushed the market cap beyond $77 billion, exceeding the $61 billion USDC supply and Coinbase’s approximately $78 billion market cap. The stock surged from its IPO price of $31 to $298 in just 12 trading days, achieving over an 8-fold increase. This performance marks it as one of the fastest-growing technology IPOs in recent years. 

The approval of the GENIUS Act in the Senate caused a rapid rise in both Circle and Coinbase stocks. The act brings federal regulation for fully backed stablecoins. President Donald Trump wants this regulation on his desk by the end of summer. 

USDC Revenue and Partnership Details 

Circle shares a large portion of USDC revenue with Coinbase. In 2024, over 60% of USDC reserve interest income was paid to Coinbase as distribution fees. Under the current agreement, 50% of the remaining income also goes to Coinbase. 

Coinbase generates revenue not only from USDC but also from staking, institutional services, and spot trading. Therefore, some analysts find Circle’s higher valuation compared to Coinbase to be questionable. Still, Circle’s IPO highlights growing mainstream investor interest in the crypto market. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Circle Stock Increased by 600% in 12 Days, Surpassing Coinbase!  appeared first on Coin Engineer.

Coinbase Targets Tokenized Equities for U.S. Market

Leading crypto exchange Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized equities, according to chief legal officer Paul Grewal. If approved, this would allow Coinbase to offer stock trading using blockchain, placing it in direct competition with firms like Robinhood and Charles Schwab.

Tokenized equities are digital representations of company shares. Instead of owning physical stock, investors hold blockchain-based tokens representing ownership, with the potential to reduce costs, enable faster settlement, and allow 24/7 trading.

Regulatory Hurdles and Legal Uncertainty

Currently, tokenized equities are not legal for trade within the U.S. For Coinbase to move forward, it would need a “no action letter” or regulatory exemption from the SEC—effectively a statement that the agency will not pursue enforcement if the company proceeds.

You Might Be Interested In: Rising Tensions: G7 Summit Overshadowed by Israel-Iran Conflict

Coinbase is not registered as a broker-dealer, a requirement for traditional securities trading. In 2023, the SEC sued Coinbase for operating without registration, but the lawsuit was dropped in 2025 under President Trump’s administration, which has taken a more crypto-friendly stance.

Market Interest Growing Amid Regulatory Shifts

Competitor Kraken has already introduced xStocks, a tokenized equity product available in non-U.S. markets. The race is on to establish dominance in this emerging segment.

Grewal emphasized:

“What’s been missing is confidence. A no action letter signals that the SEC has acknowledged compliance, giving institutional players the assurance they need to participate.”

With shifting U.S. crypto policy, including SEC lawsuits being dropped and new regulatory initiatives launched under Trump, the momentum for tokenized equities appears to be building rapidly.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Coinbase Seeks SEC Approval for Blockchain-Based Stock Trading appeared first on Coin Engineer.