Investor excitement around cryptocurrency IPOs in 2025 has given way to sobering market truths. Despite a wave of public listings from major crypto firms, only Circle Internet Financial and Galaxy Digital have delivered gains since their initial public offerings, according to Protos.com data. Other entries, such as eToro, Bullish, and Gemini, have seen their stock prices fall significantly, challenging the early optimism surrounding these offerings. The surge of cryptocurrency companies going public this year has not guaranteed profits. Circle Internet Financial (NYSE: CRCL) and Galaxy Digital (NASDAQ: GLXY) remain ... (full story)