Circle Internet will launch an IPO of 24 million shares
Circle Chairman, CEO and co-founder Jeremy Allerle commented on the “America’s first digital dollar,” the relationship between the SEC and cryptocurrency, and the company’s goal of publishing it.
(Reuters) – Circle Internet said Tuesday it was targeting valuations of up to $67.1 billion on a fully diluted basis in its initial public offering in New York. The Giant of Stablecoin It appears to continue to grow optimistically around cryptocurrency.
president Donald Trump’s Management embraces cryptocurrency, pledges a more “rational” approach to digital asset regulation, and encourages businesses in the industry to go public.
The New York-based circle and some existing investors hope to raise up to $624 million by offering prices ranging from $24 million to $26.
Cathie Wood’s ARK Investment Management has indicated its intention to purchase up to $150 million in Circle’s stock at its IPO.
The circle logo was placed in New York on Wednesday, February 12th, 2025. (Gabby Jones via Getty Images/Gabby Jones/Bloomberg)
Circle offers 9.6 million shares in its offering, but shareholder sales, including venture capital companies Accel and General Catalyst, are split at 14.4 million shares.
Founded in 2013, Circle is a leading operator of Stablecoin USDC and has a market capitalization of over $60 billion, according to Crypto Market Tracker Coingecko.
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The US flag is sticking to the construction of the New York Stock Exchange in New York City on November 6, 2024. (Reuters/Andrew Kelly/File Photo/Reuters)
Stablecoins are crypto tokens whose value is fixed to stable assets to protect against wild volatility. In the case of USDC, the value was fixed in US dollars.
Since Coinbase Global’s stock market debut, Circle’s Flotation has been one of the largest cryptography lists.
Mike Novogratz’s Crypto Investment Company Galaxy Digital debuted at NASDAQ earlier this month.
The CEO, chairman and co-founder of Circle, which manages Digital Currency USDC, talk about the “risqué” growth and stability seen in the digital dollar. (Photo illustrations by Dominika Zarzycka/sopa Images/lightrocket via Getty Images)
The circle had previously tried to make public through a Bob Diamond-backed SPAC and a $9 billion blank check transaction. The deals have fallen apart Second half of 2022.
Circles tapped on 15 banks In the case of an IPO, Listed on the New York Stock Exchange under the symbol “CRCL”.
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JP Morgan, Citigroup and Goldman Sachs are the leading underwriters of this offering.
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(Reporting by Bengali Alas Kannagi Basil and Pritam Biswas, edited by Shinjini Gangari)