Circle Internet Group Shares Surge as Crypto Rally Gains Momentum
Circle Internet Group Inc.'s (NYSE:CRCL) shares have risen by 2.37% to $80.45 after hours, following a 9.56% increase in the regular session on Wednesday.
The stock move comes amid a broader rally of crypto-linked names, fueled by falling Treasury yields and optimism ahead of a White House meeting between President Donald Trump and crypto industry executives.
Treasury's bond-buyback program has been boosted to $4 billion starting in September, pulling the 30-year yield down to about 5.2% and the 10-year to 4.65%.
Bitcoin (BTC) surged nearly 8% to touch $70,000 on Wednesday, its highest level since early June, as part of the same rally that lifted crypto-linked stocks, including Circle.
Circle issues USDC (CRYPTO:USDC), one of the largest U.S. dollar-pegged stablecoins, and its performance is closely tied to overall crypto market activity and regulatory sentiment.