Circle's IPO Aspirations: USDC Giant Prepares To Join The Ranks Of Wall Street
Portfolio Pulse from Murtuza Merchant
Circle Internet Financial, issuer of the USDC stablecoin, has confidentially filed for an IPO in the United States. The company previously planned to go public via a SPAC deal valued at $9 billion, but the deal was terminated in December 2022. CEO Jeremy Allaire remains committed to a public listing. USDC is the second-largest stablecoin by market cap, with $25 billion in circulation, down from over $56 billion in mid-2022. The crypto industry faced a downturn in 2022, marked by investor caution and the collapse of several crypto firms.
January 11, 2024 | 1:55 pm
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NEUTRAL IMPACT
Circle Internet Financial has not yet become a publicly traded company, and therefore does not have a stock symbol or direct stock price impact from this news.
Since Circle Internet Financial is not currently publicly traded, there is no direct stock symbol to analyze for short-term impact. The news is preparatory for a future listing.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0