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The US IPO market performed poorly overall in 2025, with a gain of only 13.9%, below the S&P 500's 16%. Cryptocurrency and AI companies are the main influencing factors. Stablecoin issuer Circle's IPO surged 170% on the first day but then fell nearly 70%. The average increase for medium-sized IPOs was only 5.6%. #IPO #Cryptocurrency Industry #AI #Market Performance #Circle
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