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Circle’s Blockbuster IPO Signals Renewed Investor Appetite for Crypto Listings

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Stablecoin issuer Circle made a powerful Wall Street debut on Thursday, raising $1.05 billion in its initial public offering, a move that analysts say could inspire a new wave of crypto companies to pursue public listings amid renewed optimism in the digital asset sector.

Circle priced its shares at $31 on Wednesday. Investor enthusiasm drove shares to open at $69 on the New York Stock Exchange and close at $83.23, underscoring the strong appetite for crypto-related equities. This marks the first major crypto IPO since Coinbase went public in 2021, signaling a potential resurgence for the sector.

Experts believe Circle’s successful IPO could pave the way for other crypto firms like Kraken and Gemini to consider public offerings. “It would not be surprising if other crypto companies follow suit,” said Jacob Zuller, an analyst at Third Bridge. “Public markets have accepted that crypto is not going away.”

Circle’s primary business centers around USDC, a stablecoin pegged to the U.S. dollar that facilitates instant digital payments and trading in the cryptocurrency markets. CEO Jeremy Allaire described the IPO as the culmination of a long-term vision: “We’ve had a deep conviction from the inception of the company that we could build a new infrastructure for money, built on the internet, that could radically reshape the utility of money.”

The IPO’s success reflects not only Circle’s business model but also broader shifts in the political and regulatory landscape. U.S. President Donald Trump has embraced the crypto industry, vowing to support its growth if elected. Since taking office, Trump has established a cryptocurrency working group and hosted industry leaders at the White House. Legislative efforts to create a federal regulatory framework for stablecoins are also gaining momentum in Congress.

Market observers see Circle’s public debut as a broader signal of renewed confidence in both crypto and fintech IPOs. NYSE Group President Lynn Martin called the offering “a bellwether for the IPO markets this year, not just for crypto listings.” Other fintechs have also found success recently, with retail brokerage eToro surging 34% in its May Nasdaq debut and digital banking startup Chime targeting an $11 billion valuation for its upcoming IPO.

After the collapse of FTX in 2022, institutional investors had largely pulled back from crypto markets. But with prices recovering and regulatory clarity improving, investment firms are once again showing strong interest. “There’s a plethora of high-tech and blockchain-focused investment funds that have been starved of new issues for a long time,” said Sui Chung, CEO of crypto index provider CF Benchmarks.

The Circle IPO underscores how shifting regulatory winds and growing institutional demand may soon trigger a new chapter for publicly listed crypto companies.

Right-Wing Social Media Stars Unwittingly Amplified Russian Propaganda, Says DOJ

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Some of the most popular right-wing social media personalities were unknowingly involved in a Russian operation to influence the 2024 U.S. election, according to the Department of Justice (DOJ). The DOJ revealed that nearly $10 million had been funneled from Russian state media producers to a Tennessee-based media company known as Tenet Media, which features several high-profile conservative commentators.

These influencers, including figures like Tim Pool, Benny Johnson, Lauren Southern, Tayler Hansen, Matt Christiansen, and Dave Rubin, boast millions of followers on platforms like YouTube. Although none were accused of wrongdoing, they were unwittingly paid by Russian sources to promote content that aligned with the Kremlin’s goals. The DOJ indictment noted that the content pushed by these influencers included criticism of U.S. support for Ukraine, among other divisive topics.

One particularly alarming instance involved Russian state media requesting that Tenet’s founders direct an influencer to blame Ukraine for a terrorist attack in Moscow. These revelations showcase the vulnerabilities of the new media landscape, where creators can be influenced without knowing the source of their funding. Some of the influencers have since acknowledged their involvement and are cooperating with authorities as potential victims of the scheme.

Former Vice-President Dick Cheney Announces Support for Kamala Harris in November Election

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Former US Vice-President Dick Cheney, a long-time Republican, has announced he will cast his vote for Democratic candidate Kamala Harris in the upcoming presidential election. Cheney, a significant figure during George W. Bush’s presidency, criticized current Republican candidate Donald Trump, labeling him as a severe threat to the republic. Cheney stated, “He [Trump] tried to steal the last election using lies and violence to keep himself in power after the voters had rejected him. He can never be trusted with power again.” He emphasized the importance of prioritizing the country over party affiliation, saying, “As citizens, we each have a duty to put country above partisanship to defend our constitution. That is why I will be casting my vote for Vice-President Kamala Harris.”

Cheney’s endorsement was met positively by Harris’s campaign, with campaign chair Jen O’Malley Dillon praising Cheney’s courage to prioritize the country over partisan interests. Cheney’s decision aligns him with a growing number of Republicans who have expressed apprehension about Trump’s candidacy. His daughter, Liz Cheney, who has been vocal against Trump, had previously supported Harris and was among the 10 Republicans who voted to impeach Trump following the January 6 Capitol riots. Liz Cheney lost her congressional seat in 2022 to a Trump-supported candidate.

In response to Cheney’s endorsement, Trump labeled him as an “irrelevant RINO” (Republican in Name Only) and criticized him as the “King of Endless, Nonsensical Wars,” referencing Cheney’s role in the Iraq War.