Catenaa, Saturday, June 21, 2025- Circle rally resumed Friday as shares jumped 25% to close at $133.56, just shy of its record high, defying broader market concerns and intensifying momentum around stablecoin adoption.
The USDC issuer’s resurgence followed its addition to Sam Altman’s World Chain and came amid reports that Amazon and Walmart may launch their own stablecoins, pending passage of the GENIUS Act.
The speculation sparked backlash from Sen. Elizabeth Warren and consumer groups, who warned of a loophole allowing private stablecoins.
Circle’s IPO debut has triggered industry-wide ripples, with firms like Shopify, RippleX and Matera moving to adopt USDC across platforms. CRCL stock has surged over 347% since its $31 offering, signaling growing retail and institutional interest in stablecoins.
Meanwhile, GameStop’s stock fell 22% this week to $22.14 after announcing a $2.25 billion convertible bond offering. Despite its 4,710-Bitcoin treasury disclosed in March, the company’s lack of communication and transparency drew criticism.
CEO Ryan Cohen has yet to outline plans for the proceeds, raising investor concerns over strategy.
SharpLink Gaming suffered a sharper blow, plunging 72% after an SEC filing sparked speculation of a mass sell-off.
The online gambling firm, which recently pivoted to an Ethereum treasury strategy, confirmed a $463 million ETH war chest. Company leaders blamed misinterpretation of standard regulatory filings for the crash.
Other developments include Solana ETF issuers updating filings to add staking, Coinbase adding Obama adviser David Plouffe to its Global Council, and Bitcoin miners reporting a production rebound in May.
