Cryptocurrency Company Circle Raises $1.05 Billions in IPO
Circle Internet Group, the crypto firm that tried to go public in 2021 but ended up pulling its deal, will finally enter the public equities market. Late Wednesday, Circle raised $1.05 billion in one of the most anticipated IPOs of the year.
The company is also highly profitable, thanks to its business model of using reserves to generate investment and interest income. According to Circle's most recent IPO filing, the company reported earnings of $64.8 million in the first quarter off revenue of $578.6 million.
