#CircleIPO

#CircleIPO Circle, the company behind the popular stablecoin USDC, is making a significant move by filing for an initial public offering (IPO). The company has hired JPMorgan Chase and Citi as underwriters and is planning to list its stock on the New York Stock Exchange (NYSE) under the ticker symbol CRCL ¹ ².

Circle is seeking a valuation between $4 billion and $5 billion, which would make it one of the largest crypto-related IPOs since Coinbase went public in 2021 ¹ ³. The company's IPO plans have been in the works for some time, with a previous attempt to go public through a SPAC merger in 2021 ultimately failing due to regulatory complications ⁴.

The filing of the IPO prospectus with the SEC marks a significant step forward for Circle, and the company is expected to begin trading on the NYSE pending regulatory approval ². This move is seen as a major milestone for the crypto industry, with Circle's USDC stablecoin being one of the most widely used in the market.

Some key highlights from Circle's IPO filing include:

- *Financial Performance*: Circle reported adjusted earnings before income tax, depreciation, or amortization (EBITDA) of $284 million for 2024 ².

- *USDC Performance*: The company reported that it had minted roughly $504 billion of USDC and redeemed about $464 billion of USDC from January 1, 2021, to December 31, 2024 ².

- *Risk Factors*: Circle warned that it operates in a rapidly changing and highly competitive industry, and its results of operations and future prospects depend on the continued growth of the Circle stablecoin network ².