Circle Internet Group has filed for an IPO with the US Securities and Exchange Commission. The company plans to list its stock on the New York Stock Exchange under the symbol CRCL.
Circle's IPO Plans
Circle, the issuer of USDC—the second-largest stablecoin by market capitalization—has filed for a long-awaited IPO. Circle CEO Jeremy Allaire, in a letter to investors, noted that this step marks a significant juncture in the company's development of an internet financial system, adding that despite confidence in their capabilities, the company faces numerous uncertainties and risks.
Details on Company Revenues
Circle reported a net income of $156 million on revenue of $1.68 billion in 2024, compared to a net income of $268 million on $1.45 billion in the previous year. USDC is second only to Tether's USDT, with a circulation of $60 billion and a market share of around 25%.
American Bitcoin Corp. Announcement
In related news, American Bitcoin Corp., a crypto company whose investors include two sons of US President Donald Trump, announced plans to go public. Eric Trump, who co-founded the company, noted that combining Hut 8's data center expertise with their drive for Bitcoin and decentralized finance positions them for significant future growth.
Circle's IPO is a much-anticipated move in the crypto industry, underscoring the rapid evolution of financial technologies and their integration into traditional business practices.
