Bitcoin
Bitcoin (BTC)
$105,473.00 -1.16948
Bitcoin price
Ethereum
Ethereum (ETH)
$2,661.60 1.06613
Ethereum price
BNB
BNB (BNB)
$669.48 0.14273
BNB price
Solana
Solana (SOL)
$157.54 -3.04034
Solana price
XRP
XRP (XRP)
$2.26 -0.34697
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000013 -2.11296
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 -2.23873
Pepe price
Bonk
Bonk (BONK)
$0.0000166 -6.13894
Bonk price
dogwifhat
dogwifhat (WIF)
$0.961633 -6.98637
dogwifhat price
Popcat
Popcat (POPCAT)
$0.372739 -11.04491
Popcat price
Bitcoin
Bitcoin (BTC)
$105,473.00 -1.16948
Bitcoin price
Ethereum
Ethereum (ETH)
$2,661.60 1.06613
Ethereum price
BNB
BNB (BNB)
$669.48 0.14273
BNB price
Solana
Solana (SOL)
$157.54 -3.04034
Solana price
XRP
XRP (XRP)
$2.26 -0.34697
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000013 -2.11296
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 -2.23873
Pepe price
Bonk
Bonk (BONK)
$0.0000166 -6.13894
Bonk price
dogwifhat
dogwifhat (WIF)
$0.961633 -6.98637
dogwifhat price
Popcat
Popcat (POPCAT)
$0.372739 -11.04491
Popcat price
Bitcoin
Bitcoin (BTC)
$105,473.00 -1.16948
Bitcoin price
Ethereum
Ethereum (ETH)
$2,661.60 1.06613
Ethereum price
BNB
BNB (BNB)
$669.48 0.14273
BNB price
Solana
Solana (SOL)
$157.54 -3.04034
Solana price
XRP
XRP (XRP)
$2.26 -0.34697
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000013 -2.11296
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 -2.23873
Pepe price
Bonk
Bonk (BONK)
$0.0000166 -6.13894
Bonk price
dogwifhat
dogwifhat (WIF)
$0.961633 -6.98637
dogwifhat price
Popcat
Popcat (POPCAT)
$0.372739 -11.04491
Popcat price
Bitcoin
Bitcoin (BTC)
$105,473.00 -1.16948
Bitcoin price
Ethereum
Ethereum (ETH)
$2,661.60 1.06613
Ethereum price
BNB
BNB (BNB)
$669.48 0.14273
BNB price
Solana
Solana (SOL)
$157.54 -3.04034
Solana price
XRP
XRP (XRP)
$2.26 -0.34697
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000013 -2.11296
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000126 -2.23873
Pepe price
Bonk
Bonk (BONK)
$0.0000166 -6.13894
Bonk price
dogwifhat
dogwifhat (WIF)
$0.961633 -6.98637
dogwifhat price
Popcat
Popcat (POPCAT)
$0.372739 -11.04491
Popcat price

USDC issuer Circle officially files for IPO

Ankish Jain
Edited by
News
USDC issuer Circle officially files for IPO

Circle, the company behind the USDC stablecoin, has officially filed for an initial public offering with the U.S. Securities and Exchange Commission.

According to the Apr. 1 filing, Circle (USDC) intends to list its Class A common stock on the New York Stock Exchange with the ticker “CRCL.” The company’s filing indicates that some current shareholders will also sell shares, even though the quantity and price range of shares have not yet been made public.

While sales from current holders will not benefit the business, Circle will profit from shares it sells directly. Major banks like JPMorgan and Citigroup will underwrite the IPO, and there will be a 30-day window for additional share purchases. 

Information about Circle’s performance can be found in its financial disclosures. The company’s reserve income and total revenue climbed from $1.45 billion in 2023 to $1.68 billion in 2024. Interest on reserves backing USDC accounted for a sizable amount of its profits.

Despite the revenue increase, net income for 2024 fell to $156.9 million, down from $271.5 million in 2023, though still a significant improvement from a $761.8 million loss in 2022. Salaries ($263.4 million), administrative costs ($137.3 million), and IT infrastructure ($27.1 million) accounted for the largest portion of the $491.7 million operating expenses.

Additionally, the business reported $54.4 million in other income and $4.3 million in losses on digital assets. The money raised from the IPO will go toward possible acquisitions, operational growth, and product development.

A three-tiered share structure will be introduced by Circle’s IPO. Each Class A share, which will be offered for sale, has one vote. Co-founders Jeremy Allaire and Patrick Sean Neville own Class B shares, which are limited to 30% of the total voting power but have five votes each. Class C shares are convertible under specific circumstances, but they do not have voting rights.

Following the cancellation of a $9 billion SPAC merger in 2021, this IPO marks Circle’s first attempt at a traditional public listing. Circle’s public debut signals its plan to further integrate into the financial sector as stablecoin adoption continues to grow.