While Wall Street insiders enjoyed a first day "pop," it appears Circle could have pocketed much more from its debut.

Digital investment firm Arca has sold its entire stake in Circle after publicly criticizing the stablecoin issuer’s initial public offering (IPO) process.

Circle Internet Group soared by 29.40 percent on Friday to close at $107.7 apiece, reflecting a continued strong investor confidence during its second day as a publicly listed company. Since its market debut on Thursday, June 5, the company’s share price has already surged by 247 percent from its initial public offering price of $31.

Circle pushed markets into rally mode on Friday after its shares spiked 48%, extending the chaos it kicked off with a massive NYSE debut the day before.

Circle’s IPO highlights crypto’s mainstream shift, with USDC driving revenue and new fintech services expanding its reach. Read why CRCL stock is a hold.

The euphoric action harkens back to the 2021 Coinbase IPO, which didn't end well for those who piled in near the high.

In a press release, a Gemini spokesperson said that the IPO will occur after the Securities and Exchange Commission has conducted its review. Bitcoin OGs. Famous for their spat wi