Circle, the creator of USDC, the second-largest stablecoin by market cap, has initiated an IPO of 24 million shares of its Class A common stock. The company plans to list its stock on the NYSE under the symbol CRCL. The IPO includes 9.6 million shares from Circle and 14.4 million from existing shareholders. Major US banks like JPMorgan, Citigroup, and Goldman Sachs are involved, along with European banks. The offering may raise $576-624 million, with shares priced at $24-26 each. Circle will not receive proceeds from the sale by existing shareholders. Crypto-focused investors, including ARK Invest, have shown interest in buying up to $150 million of IPO shares. Circle aims for a valuation of up to $6.71 billion. The company's CEO, Jeremy Allaire, emphasized the move towards transparency and accountability by going public. Read more AI-generated news on: https://app.chaingpt.org/news

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