GIANT STABLECOIN ON THE STOCK MARKET!
Circle #USDC Launches its IPO on Wall Street backed by Cathie Wood and financial titans
#Circle Internet Group, the company behind the second largest stablecoin in the world, USDC, has formally submitted its initial public offering (IPO) on the New York Stock Exchange (NYSE), intending to list under the symbol "CRCL".
This move marks a significant milestone for the cryptocurrency and decentralized finance (DeFi) industry by bringing one of its most important pillars to the traditional financial market.
IPO Launch: Circle plans to offer 24 million Class A shares. Of these, 9.6 million will be offered directly by the company, while 14.4 million will come from existing selling shareholders.
Valuation and Fundraising: The IPO price is expected to range between $24 and $26 per share. At the upper end of this range, Circle could raise nearly $250 million, and selling shareholders could receive around $375 million. The company aims for a valuation of up to $5.65 billion.
Interest from ARK Invest: Cathie Wood's ARK Investment has expressed strong interest in acquiring shares of the IPO worth $150 million, adding notable institutional backing to the offering.
Participation of Traditional Banks: Major investment banks such as JP Morgan, Citigroup, and Goldman Sachs & Co. LLC will act as active lead coordinators of the offering, underscoring the growing integration of the crypto economy with traditional finance.