Two years in the past, earlier than the crypto meltdown of 2022, stablecoin issuer Circle introduced that it was going to go public by way of SPAC at a $9 billion valuation.
However then, you realize, 2022 occurred (Celsius, 3AC, Luna, BlockFi, FTX, and so on). So plans had been quietly shelved in December of that horrible yr for crypto.
2023 was a really totally different yr. Bitcoin was up 150%, Coinbase inventory soared 400%, and crypto loved some authorizedvictories towards the SEC.
This yr crypto can be beginning off with a bang. It’s no coincidence that the day after the SEC accepted a bitcoin ETF Circle filed confidentially for an IPO.
Whereas Circle has nothing on to do with a bitcoin ETF, as I mentioned within the e-newsletter yesterday, it’s a very optimistic signal for crypto basically. And Circle desires to benefit from this second.
Circle is finest referred to as the issuer of the #2 stablecoin by market worth, USDC (behind solely Tether). It’s constructing a worldwide monetary framework primarily based on stablecoin infrastructure. A substitute for the standard funds rails.
Assuming a profitable IPO, Circle may have much more firepower to deliver this “digital greenback” framework to the plenty.
Featured
Circle confidentially information for IPO following banner yr for crypto shares
By MacKenzie Sigalos
Circle, the issuer of the USDC stablecoin, introduced on Thursday that it has confidentially filed paperwork with the SEC for an preliminary public providing.
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