Circle IPO
Circle, the company behind the USD Coin (USDC) stablecoin, is going public. Here are some key points:
1. Valuation: Circle aims to be valued at $4-5 billion.
2. Revenue: Circle made $1.68 billion in 2024, up from $1.45 billion in 2023.
3. Net Income: Circle's profit decreased to $156.9 million in 2024.
4. USDC: USDC is the second-largest stablecoin, with $60 billion in circulation.
5. Lead Underwriters: JPMorgan Chase and Citigroup are helping with the IPO.
The IPO will happen after the SEC review is complete, depending on market conditions.