Circle’s shares saw an impressive jump of 167% on their first day of trading on the New York Stock Exchange (NYSE) following their public offering on June 5th. The company’s stock price surged by 235% within the initial hours of trading before closing at $82 for the day. This strong performance suggests a growing market interest in stablecoin businesses, particularly those issued by Circle, which operates USDC, a dollar-pegged stablecoin. Circle’s IPO was highly anticipated and fueled by increased demand from notable investors, including BlackRock and ARK Investment Management. The company even raised its offering to $1.05 billion, offering 34 million shares to the public. While Circle’s IPO faced several delays due to macroeconomic uncertainty caused by trade wars, their strong debut suggests a positive outlook for the company’s future. However, not everyone is celebrating. Arca’s Chief Investment Officer, Jeff Dorman, publicly criticized Circle’s IPO allocation, questioning the treatment of long-time backers like Arca after years of support.