Circle Shares Jump 13% Pre-Market as Revolut Eyes Stablecoin

Circle shares surged nearly 13% pre-market to $225.78, following a 34% rally that first pushed the stock above $200. Airwallex CEO Jack Zhang publicly called for shorting the stock, but trader confidence in Circle’s USDC ecosystem and business outlook remained strong. Meanwhile, UK fintech Revolut is in talks with crypto-native partners to issue its own stablecoin, highlighting growing non‐crypto firm interest in stablecoin launches. On-chain Bitcoin activity hit an 18-month low, with Runes and Ordinals volume down and fees under $1.50. Plasma’s EVM-compatible sidechain for stablecoins plans a summer 2025 mainnet launch, backed by a $1 billion deposit and supporters like Peter Thiel. Thailand’s SEC is consulting on new digital asset listing rules until July 21. High-net-worth investors also made moves: Mexico’s Ricardo Salinas Pliego raised his BTC allocation to 70% of his portfolio, and Semler Scientific appointed a Bitcoin strategy director targeting 105,000 BTC reserves by end-2027.