• Cryptopolitan
  • Posts
  • Circle chases $7.2B valuation: BlackRock, ARK Invest line up to buy

Circle chases $7.2B valuation: BlackRock, ARK Invest line up to buy

PLUS: Ripple’s regulated stablecoin goes live in UAE, US debt hits $36.5T and lobbyists push to save GENIUS Act

Author

Cryptopolitan News
June 03, 2025 • Estimated Reading Time: 10 minutes

📬 Today’s Byte

• Circle expands IPO amid soaring demand, signaling market revival

• Ripple’s Stablecoin RLUSD gets greenlight in Dubai

• GENIUS Act hits a political speed bump

• Tweet of the day

📈 Circle expands IPO amid soaring demand, signaling market revival

Circle is upping the stakes on its IPO  and investors are piling in.

The issuer of USDC has increased the size and price of its initial public offering, now offering 32 million shares at a range of $27 to $28 each, up from the original 24 million at $24 to $26. If demand holds, Circle could raise up to $896 million and achieve a market cap near $6.2 billion or $7.2 billion fully diluted.

The IPO, set to price June 4, is attracting serious interest. Orders have reportedly hit multiples of the available shares, and the offering window is still open. BlackRock is expected to buy around 10% of the offering, while Cathie Wood’s ARK Invest may purchase up to $150 million in shares.

The stock will trade under the ticker CRCL on the New York Stock Exchange. JPMorgan, Citi, and Goldman Sachs are leading the deal.

This isn’t just big for Circle, it’s a vote of confidence for the broader IPO market.

After a sharp freeze in April due to Trump’s sweeping tariff announcement, U.S. IPO activity is showing signs of recovery. The S&P 500 had dropped 13% by early April, including a two-day 10% nosedive, as investors reacted to a 10% universal tariff and heightened trade tensions.

Companies like eToro were forced to delay IPOs during what some dubbed “Liberation Day” market volatility.

Since May, conditions have calmed. A 90-day pause on some tariffs (excluding China) and strong earnings reports have helped the market bounce back, with the S&P 500 regaining most of its losses. eToro eventually launched its IPO in late May, and a wave of new listings is following.

Still, analysts warn that the recovery is fragile. Ongoing trade tensions and inflation risks could cool the momentum if uncertainty returns.

But for now, Circle’s expanded offering suggests there’s real appetite for crypto-native companies to go public, especially those bridging traditional finance and blockchain infrastructure.

Dubai’s digital asset development takes a new step, with the Solana Foundation signing a strategic Memorandum of Understanding (MoU) with the Virtual Assets Regulatory Authority (VARA) of Dubai.

📊 Market Watch:

Ripple’s enterprise stablecoin just got regulatory approval where it matters — the Dubai International Financial Centre (DIFC).

The Dubai Financial Services Authority (DFSA) has officially approved RLUSD for use by Ripple and other licensed firms operating inside the DIFC. It’s a big step toward institutional crypto adoption in the region.

RLUSD isn’t designed for exchanges or retail speculation. It’s backed 1:1 by U.S. dollars, supported by segregated reserves and audited regularly. Ripple is positioning it as infrastructure — a regulated digital dollar for fast, cross-border enterprise payments.

Here’s what’s changing:

  • Ripple can now embed RLUSD into its DFSA-licensed payments solution.

  • Other DFSA-regulated companies can legally use RLUSD inside the DIFC.

  • Early adopters include Zand Bank and Mamo, both set to go live with Ripple’s system.

  • Ripple says stablecoin usage in the region is up 55% year-over-year.

There’s also momentum outside payments. Ripple is working with Ctrl Alt to support Dubai Land Department’s Real Estate Tokenization Project, which will move property title deeds to the XRP Ledger.

In a region that’s moving fast on regulation, RLUSD stands out as a stablecoin built for compliance-first adoption and it’s already getting real-world traction.

Wall Street ended Monday in the green, with all three major indexes rising even as Donald Trump, now back in the White House, hiked tariffs on imported steel and aluminum.

🏛️ Regulation Watch: 

Crypto lobbyists are making a last-minute push to get the GENIUS Act over the finish line before it’s dragged into unrelated political fights.

The bill, formally known as the Guiding and Establishing National Innovation for US Stablecoins Act, passed a key Senate vote in May and could head to the House this week. But there's a hitch: some senators now want to attach unrelated credit card legislation that could stall or even sink it.

Senators Dick Durbin and Roger Marshall are pushing to add the Credit Card Competition Act (CCCA), a controversial measure aimed at payment networks like Visa and Mastercard. Banks hate it. Card companies hate it. And crypto advocates worry it could blow up their biggest legislative win in years.

In a joint statement, four major crypto groups: the Blockchain Association, Crypto Council for Innovation, Digital Chamber, and DeFi Education Fund, urged lawmakers to keep the bill clean and focus on its core purpose: giving stablecoin issuers a clear regulatory path.

The drama comes just as Democratic support for the bill is returning. Some lawmakers who had previously balked over Trump-linked crypto ventures are now back on board. But that support could vanish if the bill turns into a legislative free-for-all.

Other proposed amendments are already circling, including:

  • Rules around public officials holding stablecoins

  • Limits on foreign ownership of issuers

  • Extra guardrails for Trump-affiliated platforms

  • New AML and disclosure requirements

With procedural delays looming, insiders say the vote could slip to June 9 or later if deals aren’t made fast. But crypto lobbyists still believe this is their best shot at regulatory clarity and they’re not letting it go without a fight.

The US national debt has now hit a new all-time high of $36.5 trillion, based on official government numbers. The total includes $28.9 trillion owed to the public and $7.3 trillion tied up in intragovernmental holdings.

🎁 Just for you

 Stuck at 0.4 % bank yields? Grab our free report & see how early adopters earn 10–30 % passively in 2025. Download here

🐥 Tweet of the day by @CPOfficialtx

Market-moving headlines 🔥

Hackers ramped up their activity in May, stealing a total of $257M in several high-profile attacks. About $162M of the stolen funds were intercepted, with the potential of reimbursing holders. 

Eurozone inflation dropped to 1.9% in May, falling below the European Central Bank’s 2% goal for the first time this year, according to data released Tuesday by Eurostat.

A survey from Caixin Insight Group showed that China’s manufacturing activity shrank to its lowest level since September 2022. The index also fell below the 50-level mark, which indicates it has entered into contraction for the first time since September.

Bitcoin ended May with a nearly 10% gain, and investors are already positioning for an even stronger June. Blockchain adoption is pulling ahead of macro stories, changing the way Bitcoin is being traded and talked about.

Join the Conversation!

We'd love to hear your thoughts and comments. Join our community and stay updated with the latest trends and discussions in crypto.

Twitter: @CPOfficialtx

Telegram Channel: @CryptopolitanOfficial