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Circle’s IPO: 5B or Bust?! 🤑
So, Circle, the company behind USDC (you know, the stablecoin that’s slightly less volatile than my dating life), is officially trying this IPO thing again. Apparently, attempt number one didn’t go so hot. But hey, who hasn’t had a SPAC deal fall apart due to “regulatory issues”? Sounds boring. They’re aiming for a NYSE listing under the snappy ticker symbol CRCL. Catchy! And they’re hoping for a cool $5 billion valuation. Because, why not aim high? JPMorgan Chase and Citigroup are the lead underwriters, which basically means they’re the ones trying to convince everyone this is a good idea. Godspeed, guys. 🙏
Let’s talk numbers, because everyone loves numbers! Circle made $1.68 billion in revenue in 2024, which is, like, a lot of lattes. But their net income? Only $156 million. Down from $268 million the previous year. Ouch. Looks like someone needs to lay off the avocado toast. 🥑
If this IPO actually happens, Circle will be one of the biggest crypto companies to list in the US. Second only to Coinbase, which went public in 2021 and was briefly worth more than my entire apartment building. Remember those days? Good times.
Circle is famous-ish for USDC, the second-largest stablecoin, with around $60 billion floating around. Which is enough to buy, I don’t know, a small island? The fact that they’re even trying to go public shows that crypto companies are trying to buddy up with traditional finance. It’s like the nerds finally getting invited to the cool kids’ table. 🤓
The stablecoin market is booming, probably because everyone’s terrified of actual cryptocurrencies. And with stablecoin legislation potentially happening this year, things could get really interesting. Circle’s IPO might shake up the crypto exchange market, especially since they’re basically sharing revenue with Coinbase. It’s like a crypto sitcom waiting to happen. 🤣
So, will Circle’s IPO be a landmark moment for the crypto industry? Maybe. Will it make me rich? Probably not. But hey, at least it’s something to talk about at brunch. 🥂
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2025-04-02 07:17