Circle Stock Rallies 15% as Wall Street Bets on Stablecoin Adoption

Shares of stablecoin issuer Circle surged Monday after the company reported mostly upbeat earnings and disclosed that a major crypto venture capital fund had purchased $222 million worth of its blockchain tokens.

Circle’s shares rose almost 16% to close at $131.76, its highest level since March 18, according to Yahoo Finance. CRCL stock gave back some of its gains in initial after-hours activity.

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