Circle Internet Group, the issuer of the world’s second-largest stablecoin, posted a quarter loss after one-time charges related to the crypto company’s June IPO offset revenue gains from a year earlier. Second-quarter revenue exceeded Wall Street expectations, lifting Circle’s shares by 7% in premarket trading.

The stablecoin issuer said revenue and reserve income increased due to more stablecoins in circulation after its IPO and the passing of the GENIUS Act.

Bullish is the latest stock to surge in its market debut, joining others like Figma and CoreWeave, which saw stunning day-one rallies following IPOs.

Crypto exchange Bullish's stock soared on its NYSE debut Wednesday, echoing the hot start that stablecoin issuer Circle saw in June.

Bullish shares jumped 143% from the IPO price after the digital-asset exchange operator and owner of media outlet CoinDesk raised $1.1 billion in an initial public offering. Shares of the Cayman Islands-based company opened at $90 each on Wednesday,