#CircleIPO

Circle Internet Group, the company behind USD Coin (USDC), has successfully launched its initial public offering (IPO) on the New York Stock Exchange (NYSE) under the ticker symbol "CRCL". The IPO priced at $31 per share, exceeding expectations, and raised over $1 billion for the company. Here's what you need to know¹ ²:

- *IPO Details:*

- *Number of Shares:* 34 million shares were offered, with 15.1 million new shares and 19.2 million shares sold by existing stockholders.

- *Price Range:* Initially expected to be between $24 and $26 per share, but demand was strong, leading to an upsized offering.

- *Valuation:* Circle's valuation is approximately $8.06 billion, including outstanding shares, stock options, restricted stock units, and warrants.

- *Investment Banks Involved:*

- *Lead Underwriters:* J.P. Morgan, Citigroup, and Goldman Sachs.

- *Co-Underwriters:* Barclays, Deutsche Bank Securities, Societe Generale, BNY Capital Markets, Canaccord Genuity, Needham, Oppenheimer, and Santander.

- *Circle's Performance:*

- *Revenue Stream:* Circle generates revenue mostly through interest earned on the reserves backing its USDC stablecoin and value-added services like custody, tokenization tools, blockchain analytics, and compliance-as-a-service offerings.

- *Financials:* Circle reported a net income of $156 million for fiscal year 2024 and $65 million in profit for the first quarter of 2025.

- *Market Impact:*

- *Stablecoin Market:* Circle's IPO success could help it challenge Tether's dominance in the stablecoin market.

- *Crypto Industry:* The IPO's success may inspire other crypto firms to follow suit, with Plasma and Pump.fun already eyeing their own fundraising efforts.³