Latest news with #Circle
Time of India
2 hours ago
- Business
- Time of India
Cryptocurrency Live News & Updates : Coinbase Surges 43% in June Amid Stablecoin Developments
28 Jun 2025 | 11:10:12 PM IST Coinbase's stock soared 43% in June, outperforming the S&P 500, driven by advancements in the GENIUS Act and its ties to Circle's USDC revenue. Coinbase has emerged as a standout performer in the S&P 500, with its shares climbing 43% in June, largely due to the GENIUS Act's potential to enhance revenue through stablecoin activities. This legislative progress has shifted investor focus from trading fees to stablecoin income, benefiting Coinbase's partnership with Circle, the issuer of USDC. Meanwhile, Moonshot has launched a new tool allowing users to create meme coins effortlessly using Apple Pay, aiming to simplify the token creation process. Lista DAO has also seen significant growth, with its total value locked reaching an all-time high of over $2.1 billion, reflecting a robust demand for its lending and staking services. Additionally, Binance Alpha has introduced Rekt (REKT) with airdrop opportunities for eligible users, while Robinhood has expanded its crypto offerings by launching micro futures contracts for Bitcoin, Solana, and XRP, catering to traders seeking lower collateral options. These developments highlight the dynamic nature of the cryptocurrency market, with innovations and regulatory advancements shaping the landscape. Show more
Yahoo
4 hours ago
- Business
- Yahoo
Coinbase Outpaces S&P 500 With 43% June Rise as Stablecoin Narrative Grows: CNBC
Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month. June's run is already the stock's best since November and caps three straight monthly gains. Coinbase's shares reached their highest level since their public debut. COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351. The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased. Washington's progress on the GENIUS Act, Congress's first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue. The bill brightened the outlook for Circle, whose shares hit a record high and saw its market cap near that of Coinbase this week. Coinbase keeps all yield on USDC balances held on its platform and nearly half of other USDC income, equal to about 99 percent of Circle's revenue, giving shareholders indirect exposure at no added cost, CNBC reported Friday, citing analysts including Citizens' head of financial technology research Devin Ryan. Trading, however, remains subdued. Average daily volume on Coinbase has drifted lower since April. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
The Case for Coinbase Stock Hitting $510 This Year
The cryptocurrency market is experiencing renewed upward momentum. Bitcoin (BTCUSD) is holding strong, stablecoins are going mainstream, and the regulatory fog is finally lifting. Plus, platforms are making crypto more accessible than ever with smoother onboarding, integrated wallets, and a user experience that feels less like code and more like cash. In the middle of it all stands Coinbase (COIN), the premier U.S. crypto exchange. The company has been quietly evolving into a full-blown financial powerhouse. While most players are still figuring it out, Coinbase has already secured its S&P 500 ($SPX) badge and dominates stablecoin flows. Dear Nvidia Stock Fans, Watch This Event Today Closely A $2 Billion Reason to Sell Super Micro Computer Stock Now 3 ETFs Offering Juicy Dividend Yields of 15% or Higher Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! With Washington warming up to crypto thanks to the GENIUS Act and Circle's USD Coin (USDCUST) model gaining traction, Coinbase is riding a fresh wave of optimism. Armed with a MiCA license and a fresh European hub in Luxembourg, the company's global push is also turning heads on Wall Street. That's why Bernstein analyst Gautam Chhugani recently raised his COIN stock price target to $510. Amid mounting tailwinds and a stellar double-digit surge in 2025, the stock's path to that target may be accelerating faster than expected. Founded in 2012, Coinbase is a Delaware-based crypto giant boasting a $90 billion market capitalization. As the second-largest exchange globally, it serves both retail and institutional investors. Beyond trading, Coinbase is expanding through global licenses, acquisitions, and innovations like stablecoin payments and crypto cards, positioning itself as a key architect in the evolution of digital finance. As Bitcoin climbs and regulation turns favorable, COIN stock is riding a powerful wave. On Wednesday, shares surged more than 3% to touch $369.28 — edging closer to 2021 highs — after Bernstein dubbed Coinbase the 'Amazon of crypto.' Bringing stablecoin clarity, the GENIUS Act's Senate passage also sparked a rally, boosting Coinbase's prospects. Zooming out, COIN stock has soared 50% on a year-to-date (YTD) basis and a staggering 93% over the past three months. That signals serious momentum for this crypto heavyweight. Coinbase's fiscal first-quarter earnings report, unveiled on May 8, showed strong momentum but fell short of expectations. Revenue jumped 24% year-over-year (YOY) to $2 billion, fueled by active trading and demand for Coinbase One. EPS came in at $0.24, missing estimates, while adjusted net income slipped 23% to $1.94 per share, leaving Wall Street hoping for a stronger beat. Transaction revenue rose 18% to $1.3 billion, while consumer trading volume hit $78 billion, up 39% YOY despite a sequential dip. Institutional flow reached $315 billion, also up annually. Subscriptions and services jumped 36% to $698.1 million, powered by stablecoin traction and user loyalty. April alone brought in $240 million in transaction revenue, hinting at a potentially stronger Q2 ahead. Building on its momentum, Coinbase spotlighted the $2.9 billion Deribit acquisition as a bold step into global derivatives, aligning with CEO Brian Armstrong's vision to unite spot, futures, and options. With rising USDC balances adding stability, the deal is seen as EBITDA-accretive and crucial for scaling institutional flows. While macro headwinds and crypto swings remain, CFO Alesia Haas noted early Q2 softness in blockchain rewards and subs. Still, management remains confident, banking on global expansion, policy clarity, and a forecast $600 million to $680 million in Q2 subscription and services revenue. Analysts monitoring Coinbase expect the company's EPS to be around $5.10 in fiscal 2025 before surging almost 28% annually to $6.52 in fiscal 2026. With a fresh wave of optimism, Bernstein analyst Gautam Chhugani gave COIN stock an 'Outperform' rating and raised his target price from $310 to $510 — the highest on the Street, implying 36% growth. Bernstein sees Coinbase as wildly misunderstood and severely underpriced. With solid earnings upgrades, a fading bear case, and regulatory tailwinds like the GENIUS Act, the analyst believes COIN is now the "Amazon of crypto financial services." Coinbase's recent wins back that up — its entry into the S&P 500, dominance in stablecoins, the Deribit acquisition, and more. With a European win now in hand and a fresh suite of crypto innovations unveiled, Bernstein sees Coinbase positioned not just as a player, but the platform to beat in a maturing crypto landscape. Wall Street leans bullish on COIN with a "Moderate Buy" consensus rating. Out of 29 analysts, 13 now rate it as a 'Strong Buy" while one advises a 'Moderate Buy" rating. Next, 14 analysts are playing it safe with 'Hold" ratings and the remaining analyst is outright bearish with a 'Strong Sell' stance. The stock's rally over the past few weeks has pushed it past the average price target of $275.40. That's a clear sign of growing investor enthusiasm and bullish momentum. On the date of publication, Sristi Suman Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. 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Forbes
12 hours ago
- Business
- Forbes
Crypto IPO: 3 Things You Need To Know About The IPO Season
The Wall Street sign in the Financial District of Lower Manhattan in New York City. Circle's successful IPO has sent a signal. A strong one. The crypto world is heating up again, but this time, it's happening on Wall Street. Crypto companies are making a comeback after a long period of regulatory uncertainty. Circle, the stablecoin issuer, has initiated a global sensation in capital markets. Understandably so. Circle's recent debut on the New York Stock Exchange as CRCL was impressive, to say the least. CRCL's share price skyrocketed nearly 600% from its IPO price of $31 to a high of $215 during the day. With a market cap of $45 billion, Circle has quickly become the representative of a new trend, giving rise to a crypto IPO season. Was it a flashy debut? Yes, and for all good reasons. Circle's IPO, the biggest in recent history, marks a major milestone in the industry's journey toward mainstream acceptance. USDC, Circle's flagship stablecoin, is backed by over $32 billion in reserves and is already a core component of onchain finance, serving as a payment medium that dominates the whole crypto ecosystem. But there are three key things you need to know about this year's IPO season to understand this phenomenon. 1. It's Only The Beginning Of Crypto IPOs Just days after Circle's IPO, Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, confidentially filed paperwork for its own IPO in the U.S. At the same time, all eyes moved onto Kraken, which is reportedly preparing to go public sometime in early 2026. Another company making moves is BitGo, a regulated U.S. crypto custodian. Back in February, reports suggested it was aiming for an IPO as early as 2025. A few other names also stand out as potential IPO contenders: These companies span the entire spectrum, from custody and analytics to wallets and infrastructure. What they have in common is a fresh appetite for public capital and growing investor interest, especially institutional one. As one analyst put it, 'After watching Circle's stock take off, any crypto firm with a clear business model is now looking at the IPO route seriously.' 2. The IPO Process Although the range of companies participating in the IPO summer is wide, crypto exchanges are leading the charge in pursuing US stock market listings. Think Gemini, Kraken, Bullish Global, FalconX, and Bithumb. These types of businesses are particularly well-positioned for public listing due to their strong cash flows, large customer bases, and stable business models that appeal to traditional investors. There are different ways companies can go about executing public offerings. Traditional IPOs remain the gold standard, particularly for mature companies with strong compliance records and established business operations. However, this process is very complex and time-consuming, making it most suitable for larger platforms with proven business models and solid profitability. That's why for smaller cryptocurrency companies seeking a faster path to public markets, reverse mergers have become a popular alternative. Companies, such as TRON, have successfully leveraged this approach by acquiring existing public companies to quickly gain access to the stock market, bypassing the lengthy traditional IPO process. Meanwhile, some companies are opting for direct listings. This is shown by Kraken's approach, which achieved a $16.2 billion valuation. They were able to create market liquidity for their shares without the need to raise new capital, making it ideal for firms that don't necessarily require additional funding but instead want to provide exit opportunities for existing shareholders. 3. High Crypto IPO Expectations Circle has definitely set a high bar. Its stock soared, boosting confidence across the crypto sector. But Circle isn't your typical crypto company. Their stablecoin, USDC, is a go-to onchain payment solution. In addition, its business model—earning yield on reserve assets—is easy for traditional finance folks to understand. Retail and institutional demand are growing, and with a government no longer hostile, investors see 2025 as the year when crypto companies leverage the IPO playbook. The dramatic shift in institutional adoption is particularly compelling. As of January 2025, 86% of institutional investors reported having exposure to digital assets or planned to make digital asset allocations later in the year. Additionally, recent success stories have proven that crypto companies can achieve substantial valuations in public markets. Circle's roughly $1.1 billion public listing formed the largest crypto IPO in recent history, sparking high expectations among industry experts that more digital asset companies will soon follow suit. However, only time will tell if this crypto IPO summer turns into an IPO supercycle, but Coinbase being the best performing S&P500 stock in June is definitely a promising sign.
Yahoo
12 hours ago
- Business
- Yahoo
Dwindling IPOs Reward Investors With Return Bonanza
Entering 2025, it was the year of IPOs … until it wasn't. Firms grew timid about dipping their toes into public waters as markets sputtered amid tariff threats. But less has turned out to be more. In fact, 2025 could end up being the year of IPOs doing well, even if some firms were hesitant to come out of their private shells. New data compiled by Bloomberg found that shares in companies to debut on US exchanges this year have climbed by a weighted average of 53% — the S&P 500 is up 4.4%, so, in the words of Larry David, pretty, pretty good. Now, to see if it inspires the wave of listings investors were hoping for. READ ALSO: After Reclaiming 'World's Most Valuable Company' Crown, Nvidia Gilds the Tiara and Kraken Launches Crypto's Attempt at a Venmo-Killer Before the champagne-popping, the hard truth: IPOs are still down. Bloomberg counted 33 of them so far, down from 41 in the first half of 2024 (excluding SPACs and small listings that raked in under $50 million). But the performances of stablecoin fintech Circle, up more than 585% since listing earlier this month, and cloud computing company CoreWeave, up more than 300% since listing in March, have offered assurances that, despite this year's Olympic hurdle run of risks, investor appetite for new opportunities is resilient. There are signs in some sectors that a trickle-down effect could be on the way, although that may take time: On the fintech front, investment management company Wealthfront filed for an IPO earlier this week, following rival Chime's $864 million debut in its initial public offering earlier this month. This activity suggests a warming trend in the fintech public offering market. Potential billion-dollar fintechs Klarna and Plaid have both signaled they are readying IPOs, having previously been spooked by market uncertainty. On the digital health front, two notable care providers have gone in opposite directions: Hinge Health is up 13.8% since its debut in May, while Omada Health has tumbled 22% since its listing earlier this month. The IPO calendar for the rest of 2025 remains relatively light, and analysts don't expect digital health listings to pick up, but fintech and crypto firms could be inclined to file — in fact, crypto exchange Gemini filed earlier this month, with many expecting Circle's success to embolden others in the sector to follow. We're Number One: The 53% average returns on newly listed US companies bested the 45% in Asia, 38% in Europe and 7% in the Middle East, according to Bloomberg's calculations. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
