BitcoinCryptocurrency EducationLINKNews

Just In: USDC stablecoin issuer Circle confidentially files for an IPO

1 Mins read

  • USDC issuer – Circle has confidentially filed for an initial public offering
  • This is the second attempt of the stablecoin issuer to go public, with the first one falling through in 2022

The year seems to have kicked off with a bang for the cryptocurrency market. A day after the United States Securities and Exchanges Commission approved spot Bitcoin ETFs, a major stablecoin issuer – Circle has filed for an IPO. According to Reuters, Circle has confirmed that it has confidently filed for an IPO, in line with its plan to become a publicly traded company.

Notably, the company has been planning on going public for quite some time. Reports of this coming to fruition in 2024 emerged towards the end of 2023. A then report by Bloomberg stated that the stablecoin issuer had managed to draw in Goldman Sachs, General Catalyst, and Blackrock as its backers.

The number of shares that would be sold, the price range, or the valuation for the new IPO filing still remain unclear. Nonetheless, if this IPO passes the SEC’s review, it will become the second major crypto player to launch an IPO. The first crypto firm to make headlines under the same subject was Coinbase, a leading American crypto exchange.

Is second time the charm for Circle?

Notably, this is not the first time Circle has attempted to go public. The company had made its first attempt in 2022 through a special-purpose acquisition company – Concord Acquisition Corp. The valuation of the firm then was at a whopping $9 billion. However, this plan fell through after the firms terminated merger plans. The CEO had stated that they were “disappointed the proposed transaction timed out.” Nonetheless, the plans to go public were still on the table.

However, much has changed for the stablecoin issuer since its 2022 filing. According to CoinMarketCap, USDC is the second-largest stablecoin in the cryptocurrency market and the seventh-largest coin in the entire crypto market. At press time, the stablecoin had a market cap of over $25 billion, with its circulating supply being in the same range.


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.