According to ChainCatcher, Nic, co-founder and CEO of Coin Bureau, stated that Circle's IPO issued 34 million shares at a price of about $31 per share, raising approximately $1 billion. Although it was a great success, the scale of its financing is only equivalent to that of its main competitor Tether's quarterly operating profit. Currently, USDT accounts for over 60% of the stablecoin market, while USDC's market share is less than a quarter of the former.

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