ROLLUP: Circle IPO Hits $20B | Stablecoin Summer Is On | Trump Wallet Chaos | EF Deploys Special For

Bankless

News, Tech News, Technology

4.7 • 1.2K Ratings

🗓️ 6 June 2025

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, Ryan and David unpack Circle’s explosive $20B IPO—crypto’s second biggest—and what it signals about Wall Street’s newfound love for stablecoins. They break down the confusing Trump wallet drama, where even Trump’s own sons deny involvement, and explore why Pump.fun’s rumored $4B token raise has the industry split. Ethereum enters “wartime mode” as the Foundation lays off staff and spins up a lean new R&D force called Protocol. Plus, Ray Dalio says “a bit of Bitcoin,” Trump’s Big Beautiful Bill adds $2.4T to the deficit, and SBF is headed to Netflix. ------ 📣BANKLESS & FRAX MEETUP | PERMISSIONLESS 2O25 https://lu.ma/uf9mmcoa ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS & RESOURCES 0:00 Intro 0:41 Circle IPO https://x.com/circle/status/1930624298760143333 https://www.theblock.co/post/356602/circle-seeks-7-2-billion-valuation-in-upsized-ipo https://x.com/ruiixyz/status/1930386144216396176 https://x.com/EconomyApp/status/1930657679418241238 https://x.com/jerallaire/status/1930595978215637360 https://x.com/EffortCapital/status/1930621939279679542 9:34 Markets 12:23 Trump BBB https://x.com/alifarhat79/status/1930265604105150647 https://x.com/alifarhat79/status/1930256218108383338 https://x.com/elonmusk/status/1930452348234805665 https://x.com/WatcherGuru/status/1930659468536144062 https://www.congress.gov/bill/119th-congress/house-bill/1/text https://x.com/elonmusk/status/1929954109689606359 https://x.com/RyanSAdams/status/1929993372586152364 23:53 Pump.fun is getting ready for a token https://blockworks.co/news/pumpdotfun-token-sale https://x.com/nextfckingthing/status/1929871539018576257 https://dune.com/tiagocryptonary/pump-fun-analytics https://x.com/lmrankhan/status/1928163796691845133 https://x.com/VannaCharmer/status/1930318687333986639 32:00 Ethereum Foundation announced another big change! https://x.com/TimBeiko/status/1929620145984753843 https://x.com/econoar/status/1930361688047661495 https://blog.ethereum.org/2025/06/04/ef-treasury-policy https://x.com/centauridoteth/status/1929896351447372191 https://x.com/ViktorBunin/status/1929945974316662804 44:43 Strategy found a new way how to raise more money for Bitcoin https://x.com/saylor/status/1929635975367475403 https://x.com/DylanLeClair_/status/1929661889963086170 49:01 Trump team launched a crypto wallet - or did they? https://x.com/BitcoinMagazine/status/1929943367892283828 https://x.com/EricTrump/status/1929966635445576103 https://x.com/0xLeoInRio/status/1929955682037731340 https://x.com/molly0xFFF/status/1930351820288741708 https://x.com/Ronxyz00/status/1929884476328276036 https://x.com/EricBalchunas/status/1930015280094429381 57:50 SBF is heading to Netflix! https://x.com/netflix/status/1928153876475097117 1:00:26 Bankless is looking for talent! https://x.com/i/jobs/1929890683927638133 https://x.com/i/jobs/1929889475783520481 1:01:38 Closing & Disclaimer 1:02:01 Moment of Zen https://x.com/l3olanza/status/1930320045139173881 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

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0:00.0	There it is.
0:11.0	Huge congratulations to Circle for being crypto's second biggest IPO.
0:16.5	Coinbase is the first.
0:17.7	They didn't technically have an IPO, but details.
0:20.2	So we have our second big
0:21.4	United States company going public and trading, Ryan. First, Circle shares were sold in the IPO at
0:28.8	$31. $31 the day before. Do you know what Circle is trading at right now, about one hour
0:34.7	into trading? Okay. I saw something something about this but it's significantly up
0:39.4	right so um i don't know has it doubled it has more than doubled i'm looking at it right now
0:45.0	it's trading at 88 dollars and 50 cents it also hit a peak high of 103 which is just crazy so
0:53.1	almost a tripling out of the gate a tripling out of the gate of the evaluation of Circle.
0:57.8	I can't load this chart.
0:58.8	It's like it's breaking the charts, David.
1:00.3	That's right.
1:01.0	It's from the charge broken.
1:02.0	Just type in CRCL.
1:03.7	And that's the ticker of the Circle Internet Group, Inc.
1:07.5	Apparently that's the company name.
1:09.0	Trading on the NASDAQ.
1:10.5	Wow.
1:11.0	Just green line straight up.
1:12.2	Big green line.
	...

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