Circle Stock Surges as Crypto Industry Gains Momentum Ahead of Trump Meeting
The USDC issuer Circle Internet Group Inc.'s stock surged on Wednesday, rising by nearly 10% to $78.59 in regular trading session and another 2.37% after hours to $80.45.
This stock movement came as part of a broader rally that swept crypto-linked names, fueled by falling Treasury yields and optimism ahead of a White House meeting between President Donald Trump and crypto industry executives.
The Treasury Department's decision to boost its bond-buyback program, raising the floor on long-dated purchases to $4 billion starting in September, helped pull down the 30-year yield to about 5.2% and the 10-year to 4.65%, further contributing to the crypto market momentum.
Circle's stock performance is closely tied to overall crypto market activity and regulatory sentiment, given its business built on crypto infrastructure. The company issues USDC, one of the largest U.S. dollar-pegged stablecoins, making it a direct beneficiary of renewed industry-wide momentum.