As a crypto analyst rooted in Wall Street rigor and Web3 idealism, I watched Circle’s IPO unfold not as triumph, but as a calculated exit. Founders cashed out $5.95B at $31 while retail investors bet on $300+ valuations. This isn’t hype—it’s structural divergence: insiders took profit; the market bought fantasy. The real story? USDC isn’t just a stablecoin—it’s the plumbing of digital finance. And when regulators finally shine, only the disciplined survive.

As a London-based crypto analyst with five years in blockchain, I’ve watched the market shift from niche speculation to mainstream fascination. This year’s surge in crypto-related IPOs—led by Circle, Tron via SRM, and MicroStrategy—signals a pivotal moment. From stablecoin firms to DeFi platforms and mining giants, the financial world is finally taking blockchain seriously. In this deep dive, I break down the drivers behind the boom, spotlight key players, and warn of risks beneath the hype. If you’re navigating this wave, read on before your portfolio gets caught in the next wave—or washed out.