COIN Stock Surges 40% in One Month

COIN ended Thursday’s trading session up 5.5%. The stock has gained nearly 24% over the past five trading sessions and 40% in the last month. Its previous all-time closing high was $357.39, recorded in November 2021.

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The market capitalization of Coinbase Global has now reached approximately $89 billion.

Circle’s Momentum Boosts Coinbase

This rally was partly fueled by the recent IPO of Circle Internet (CRCL), the company behind USDC, the second-largest stablecoin by market cap. CRCL debuted on June 4 at $31 per share and surged over 500% to close at $213.63 on Thursday.

According to regulatory filings, in 2024, Circle paid over 60% of its USDC reserve earnings to Coinbase as distribution fees. The agreement between the two companies gives Coinbase 50% of all remaining interest income from the reserves.

First Pure-Play Crypto Firm in the S&P 500

Coinbase officially became the first crypto-native company to join the S&P 500 index as of May 19, which has attracted increased institutional interest in the stock.

Research firm Bernstein recently raised its price target for COIN to $510, calling Coinbase the “Amazon of crypto financial services.”

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Shares of Circle surged again on Friday, gaining another 14% in pre-market trading. This comes after a 33% rally earlier in the week following the Senate’s passage of the GENIUS Act. With momentum building, Circle is on track to close the week nearly 50% higher, and its stock has skyrocketed more than 500% since its IPO on June 5.

Market Responds to Regulatory Optimism

The legislation in question, known as the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), is designed to establish a clear regulatory structure for the issuance and management of U.S.-based stablecoins. The bill outlines standards for reserves, transparency, and compliance—elements long demanded by institutional investors and fintech firms.

If passed by the House of Representatives, this legislation would mark the first comprehensive stablecoin framework in U.S. history. Another bill, the STABLE Act, is also under discussion in the House, pointing to a growing consensus in Washington about the future of digital payments.

Big Tech Eyes Stablecoin Potential

The excitement isn’t limited to crypto-native companies. Industry reports suggest that global tech and retail giants—including Amazon, Walmart, Uber, Apple, and Airbnb—are actively exploring stablecoin integration or issuance. These companies see stablecoins as a powerful tool to enable faster, cheaper, and borderless transactions.

As regulation becomes clearer, the road opens for stablecoins to become a key component of modern financial infrastructure—well beyond crypto exchanges and DeFi protocols.

Stablecoins Poised to Reshape Finance

The GENIUS Act could be the catalyst that transforms stablecoins from niche trading tools into mainstream financial instruments. By lowering transaction costs and improving speed, they hold the potential to revolutionize e-commerce, global remittances, and point-of-sale payments.

As Circle continues its strong market performance, it also symbolizes a broader shift toward institutional confidence in digital assets. With strong legislative support, the stablecoin sector appears ready for its next phase of adoption.

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A Strategic Bet on Crypto: Theta Blockchain Ventures IV

Amsterdam-based Theta Capital Management has launched its new $175 million fund, named Theta Blockchain Ventures IV, with the goal of empowering early-stage blockchain startups through seasoned crypto VC firms. The fund specifically targets investment managers with a deep understanding of the blockchain ecosystem.

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“We’ve always looked for areas where specialization offers a sustainable edge,” said managing partner Ruud Smets. Theta, which pivoted toward digital assets in 2018, has backed top crypto investors like Polychain Capital, CoinFund, and Castle Island Ventures.

Crypto VC Rebounds as Market Confidence Grows

The announcement coincides with signs of revival in crypto venture capital. According to Galaxy Digital, VC funding for digital assets surged by 54% in Q1 2025, reaching $4.8 billion. Although deal count declined year-over-year, the capital inflow doubled compared to Q1 2024, signaling renewed investor confidence.

PitchBook data reveals that most capital was funneled into asset management, trading platforms, and crypto financial services — totaling $2.55 billion across only 16 deals. Infrastructure and development firms followed with nearly $955 million, while Web3 companies secured $231.2 million across 23 deals.

Looking ahead, Circle’s anticipated IPO may become the sector’s next pivotal moment. If it exceeds the rumored $4–$5 billion valuation, experts believe it could attract significant late-stage capital and reshape the valuation landscape. With $1.18 billion in VC raised, PitchBook estimates a 64% likelihood that Circle will go public.

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Jeremy Allaire, co-founder and CEO of Circle, announced the move in a post on September 13, stating that this shift to New York marks a key milestone in positioning the company at the heart of the global financial system. Circle has become a vital bridge between traditional finance and the emerging crypto economy, supporting the broader adoption of cryptocurrencies.

Circle plans to complete the move by early 2025, with its IPO potentially happening as soon as it receives approval from the Securities and Exchange Commission (SEC), following its January 2024 filing. According to Allaire, 2024 marked a significant year for the crypto industry, especially with the introduction of Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S., which are seen as game-changers for mainstream adoption. He believes 2025 will be the year when stablecoins fully integrate into the financial mainstream.

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Despite regulatory uncertainties in the U.S., particularly with the 2024 presidential election looming, Allaire remains optimistic about the future of cryptocurrency in the country. He predicts that the U.S. is on the verge of becoming the global leader in the development and support of this financial revolution.

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Circle Internet Financial, the powerhouse behind the widely used USDC stablecoin, has ignited excitement in the crypto world with its recent confidential IPO filing with the SEC. This move marks a significant step towards becoming a publicly traded company, potentially unlocking greater transparency and growth opportunities.

Key questions on everyone’s minds about Circle IPO:

• IPO Details: While the number of shares and price range are yet to be unveiled, anticipation is brewing for a potential launch in the first half of 2024, subject to SEC approval and market conditions.
• Company Background: Founded in 2013, Circle has carved a niche as a leading player in the crypto space, primarily known for issuing the U.S. dollar-backed USDC stablecoin. Despite market fluctuations and internal restructuring, Circle maintains a strong presence with a current USDC market cap exceeding $25 billion.
• Valuation & Profitability: Previous deals hinted at a $9 billion valuation, but the upcoming IPO will reveal the official figure. While profitability details remain undisclosed due to Circle’s private status, its significant market cap and stablecoin dominance suggest a solid financial foundation.
• Business Model: The core of Circle’s business revolves around issuing and governing USDC, providing a safe haven for value transfer in the often volatile cryptocurrency market. This generates revenue through adoption fees, interest earned on user funds held in reserve, and potential future expansion into other crypto-related services.
• Competition: Tether, with a $95 billion market cap, remains the main contender in the stablecoin arena. However, Circle faces growing competition from emerging players. An IPO could further fuel this rivalry, driving innovation and potentially benefiting investors.
• Investor Backing: Prominent names like Goldman Sachs, BlackRock, and Fidelity stand behind Circle, showcasing strong institutional confidence. Notably, cryptocurrency exchange Coinbase holds a stake, underlining its belief in USDC’s long-term success.

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