#CircleIPO

Circle Internet Group, the issuer of the USDC stablecoin, has successfully completed its initial public offering (IPO). Here are the key details ¹ ² ³:

- *IPO Details*:

- Circle sold 34 million shares at $31 each, raising $1.05 billion

- The IPO valued the company at $6.9 billion initially, but shares surged to $103.75, valuing the company at $18.9 billion to $22.5 billion on a fully diluted basis

- *Trading Information*:

- Circle's stock is listed on the New York Stock Exchange (NYSE) under the ticker symbol CRCL

- Shares opened for trading at $69 apiece and rose as high as $103.75

- *Investor Interest*:

- BlackRock, a major asset manager, reportedly plans to acquire a minimum 10% stake in Circle

- ARK Investment Management is interested in buying up to $150 million worth of shares

- *Use of Funds*:

- Circle intends to retain all available funds and future earnings to fuel business development and expansion

- The company will not pay dividends to shareholders

The successful IPO is seen as a significant milestone for the stablecoin market and the broader cryptocurrency industry, potentially paving the way for other crypto companies to go public