Stablecoin Giant Circle Files IPO on NYSE at $6.7 Billion Valuation
Summary
Stablecoin issuer Circle aims to raise up to $624 million through its initial public offering, offering 24 million shares priced between $24 and $26 each, targeting a $6.7 billion valuation. Circle's USDC is a key digital asset, facilitating crypto transactions and holding a market cap of $61.5 billion. The company plans to trade on the NYSE under the ticker CRCL. Cathie Wood's ARK Investment is interested in purchasing up to $150 million in shares. Circle previously attempted to go public via a SPAC in 2022 but canceled those plans. Ripple reportedly made an acquisition offer, which Circle declined.
