PANews reported on June 6 that according to Fortune magazine, stablecoin issuer Circle lost $1.72 billion in potential profits due to its pricing strategy in its IPO on the New York Stock Exchange on June 5, setting the seventh largest IPO underpricing case in nearly four decades. The company issued 34 million shares at $31 per share, raising $1.1 billion, but the closing price on the first day of listing was $82.84, an increase of 167%. Data shows that if priced at the closing price, Circle can obtain an additional $1.72 billion in funds, which is equivalent to twice the cash reserves on its balance sheet before the IPO. Jay Ritter, an IPO research expert at the University of Florida, pointed out that this difference is second only to the historical records of six companies including Visa and Airbnb. Circle's current market value is $16.6 billion, corresponding to a price-to-earnings ratio of 106 times the net profit of $157 million in 2024.