Circle planning to launch IPO in late April: report

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Circle Internet Financial, the issuer of USDC, is taking a major step toward its long-anticipated initial public offering.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The fintech company has enlisted investment banks JPMorgan Chase and Citi to help facilitate the offering, sources familiar with the matter told Fortune Crypto. The company is expected to publicly file for the IPO in late April, though the exact timeline remains uncertain. Once filed, shares could begin trading within weeks, although regulatory approval processes could extend the timeline.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Circle has attempted to go public before. In 2021, the company sought a SPAC merger, a once-popular route to public markets, but regulatory delays from the Securities and Exchange Commission derailed the plan. The merger was ultimately abandoned in late 2022 amid the collapse of crypto exchange FTX and a broader downturn in digital assets. In January 2024, Circle confidentially filed for a traditional IPO. The upcoming public filing will provide the first detailed look at Circle’s financials and its proposed ticker symbol.