Crypto Market Surges Over $650 Billion, Fueling Wave of IPOs
The cryptocurrency market has increased by over $650 billion in market cap since the beginning of the year, leading to a surge in crypto IPOs. Key details include:
- Circle, the issuer of USDC stablecoin, went public in 2025, raising $1.1 billion, with shares jumping over 200% on debut.
- Bullish, backed by Peter Thiel, raised $1.1 billion in an IPO, exceeding expectations.
- Gemini, founded by Cameron and Tyler Winklevoss, is set to debut this week with an increased IPO target of $433 million and an anticipated valuation exceeding $3 billion; shares are priced between $24 and $26.
- Figure Technology Solutions Inc has expanded its offering to $693 million, potentially valuing the company at about $4.7 billion.
- SOL Strategies began trading on Nasdaq under ticker STKE, holding $94 million in SOL.
This IPO trend is supported by favorable regulations in the US, with President Trump’s administration promoting innovation through various initiatives. The SEC is shifting focus from strict enforcement to supporting industry growth, including launching “Project Crypto” for clearer digital asset guidelines and closing cases against major firms such as Gemini and Coinbase. Nasdaq's proposal for trading tokenized securities may enhance the integration of digital assets with traditional finance.
The convergence of regulatory clarity and investor interest indicates a significant move toward mainstream adoption of digital assets.