Circle IPO Raises $1.05B, Trading Starts on NYSE

Circle Internet Group, the issuer of the USDC stablecoin, has priced its IPO at $31 per share, raising about $1.05 billion by selling 34 million shares and valuing the company at $6.8–8 billion. The offering was upsized in response to strong investor demand, with shares set to begin trading on the New York Stock Exchange under the ticker 'CRCL.' This IPO follows Circle's previously failed SPAC attempt in 2021 and comes amid renewed interest in digital assets and a revitalized tech IPO market. For 2024, Circle reported $1.68 billion in revenue and $156 million in net income, reflecting robust financial performance. Major institutions including J.P. Morgan, Citigroup, and Goldman Sachs led the underwriting, and ARK Investment Management was among the prominent interested investors. The launch coincides with ongoing U.S. policy debates about stablecoin regulation, potentially benefiting regulated issuers like Circle.