News Summary

Stablecoin issuer Circle, known for its USDC coin pegged to the U.S. dollar, has filed for a public listing. The company reported a revenue and reserve income of $1.68 billion for 2024, marking an increase from $1.45 billion in 2023, although its net income fell to $156 million from $268 million the previous year. This marks Circle’s second attempt at going public, following a failed SPAC merger in 2022. The IPO aims to raise approximately $750 million, according to Renaissance Capital. Major investors with over 5% ownership in Circle include Accel, General Catalyst, Breyer, IDG Capital, and Oak Investment Partners. Currently, USDC in circulation is valued at $60 billion. The company is pursuing this IPO amid favorable conditions for crypto assets under the Trump administration.