Circle Officially Files For An IPO Aiming At $5 Billion In Valuation
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Circle, a well-known firm in the crypto sector that created the industry’s second-largest stablecoin, USD Coin (USDC) just officially filed for an IPO.
According to its filing, the firm will be listed on the New York Stock Exchange trading under the ticker CRCL. The company already hired two major banks, JPMorgan Chase and Citigroup, to act as lead underwriters for its offering, which is targeting a $5 billion valuation.
Circle’s move represents the result of its efforts and a rather remarkable turnaround for the firm. Until now, the company did not have it easy, and it survived numerous major challenges, such as the SVB crisis and the collapse of Silvergate.
This was a difficult period that almost broke the entire company, but Circle managed to move past it. Then, its previous attempt to go public in 2022 also fell apart due to the failed merger with Spac. The deal and the attempt to go public back then failed due to a number of regulatory challenges that stood in the way of the company and its goals.
Now, however, in a more crypto-friendly America, Circle is ready to start anew, and this time, it seems like the challenges that stood in its way in the past have been removed.
Circle’s Financial Situation Has Improved Considerably
Another advantage that 2025 Circle has over its past self is a better financial situation. The company reported $1.68 billion in revenue and reserve income in 2024, compared to $1.45 billion in 2023, and only $772 million in 2022.
However, its net income from last year reached only $156 million, compared to $268 million seen in the year before. However, the USDC stablecoin has been thriving, its market cap 36% larger this year than the year before.
With the regulatory situation regarding stablecoins and other cryptocurrencies in the US changing, all aspects of the industry are slowly getting into place and finding their place in the new type of economy that the US is building right now.
In fact, stablecoins and their investors are more confident than ever that the sector has a bright future ahead of it, and that these stable cryptocurrencies are most likely to play a major role as a fast and reliable medium of exchange.
