#CircleIPO

#Circle, the issuer of the stablecoin, has published a preliminary prospectus for its stock market IPO.

The figures show attractive revenues of almost $1.7 billion for 2024, but operating million.

While Circle isn’t parsimonious in its spending, the massive dent is the monies paid to Coinbase, which previously had a 50% stake in the Circle more than a billion in 2024 in distribution costs, most of which went to Coinbase.

The biggest concern is whether this might constrain future opportunities $SOL