Jeremy Allaire, co-founder of cryptocurrency company Circle Internet Group Inc., saw his wealth soar to over $1.7 billion on Thursday as the company’s stock nearly tripled on its debut trading day.

Contact CEO Daily via Diane Brady at [email protected] This story was originally featured on Fortune.com

Key Takeaways Circle Internet Group shares continued to climb Friday after soaring 168% in their debut on the New York Stock Exchange yesterday.The stock began trading Thursday at $69 each, more than double the increased initial public offering price.

In April, Bloomberg reported that Ripple had made an acquisition offer for Circle valued between $4 billion and $5 billion, which was reportedly rejected as undervalued. Ripple CEO Brad Garlinghouse later disputed the report in a conversation with Georgetown Law professor Chris Brummer.

Circle Internet Group Inc. had one of the splashiest debuts in years, with shares surging 168% after the company and some of its shareholders raised nearly $1.1 billion in an upsized initial public offering.

(Reuters) -Circle Internet's shares were set for a strong debut on the New York Stock Exchange on Thursday, a move expected to boost an IPO market that has struggled to regain momentum. The stock was last indicated to trade between $60 and $61 at debut compared with its IPO price of $31.