Latest news with #CircleInternet
Yahoo
12 hours ago
- Business
- Yahoo
Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO
(Reuters) -Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin market. The upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with him. New York-based stablecoin issuer Circle and some existing investors are now looking to raise up to $896 million from 32 million shares priced between $27 and $28 apiece, up from their earlier offer of 24 million shares between $24 and $26. Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyze institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens. Circle's reserve income, its primary revenue source, from interest on the Treasuries backing its USDC coin, rose 55.1% to $557.9 million in the quarter ended March 31. But distribution and transaction costs for the period jumped 68.2%, outpacing revenue growth for Circle, which distributes USDC primarily via its partnership with Coinbase and other third-party distributors. J.P. Morgan, Citigroup and Goldman Sachs are the lead underwriters for the offering. Circle will list on the New York Stock Exchange under the symbol "CRCL". Circle is poised to go public in New York later this week. Sign in to access your portfolio
Economic Times
12 hours ago
- Business
- Economic Times
Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO
Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyse institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with York-based stablecoin issuer Circle and some existing investors are now looking to raise up to $896 million from 32 million shares priced between $27 and $28 apiece, up from their earlier offer of 24 million shares between $24 and $ dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyze institutional are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between reserve income, its primary revenue source, from interest on the Treasuries backing its USDC coin, rose 55.1% to $557.9 million in the quarter ended March distribution and transaction costs for the period jumped 68.2%, outpacing revenue growth for Circle, which distributes USDC primarily via its partnership with Coinbase and other third-party distributors.J.P. Morgan, Citigroup and Goldman Sachs are the lead underwriters for the offering. Circle will list on the New York Stock Exchange under the symbol "CRCL".Circle is poised to go public in New York later this week.
Time of India
14 hours ago
- Business
- Time of India
Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO
Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyse institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with York-based stablecoin issuer Circle and some existing investors are now looking to raise up to $896 million from 32 million shares priced between $27 and $28 apiece, up from their earlier offer of 24 million shares between $24 and $ dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyze institutional are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between reserve income, its primary revenue source, from interest on the Treasuries backing its USDC coin, rose 55.1% to $557.9 million in the quarter ended March distribution and transaction costs for the period jumped 68.2%, outpacing revenue growth for Circle, which distributes USDC primarily via its partnership with Coinbase and other third-party distributors.J.P. Morgan, Citigroup and Goldman Sachs are the lead underwriters for the offering. Circle will list on the New York Stock Exchange under the symbol "CRCL".Circle is poised to go public in New York later this week.
Business Times
16 hours ago
- Business
- Business Times
Stablecoin issuer Circle targets US$7.2 billion valuation in upsized US IPO
[BENGALURU] Crypto firm Circle Internet said on Monday (Jun 2) it was targeting a valuation of up to US$7.2 billion on a fully diluted basis in its upsized initial public offering in the US, underscoring growing momentum in the stablecoin market. The upsized IPO indicates strong investor appetite for crypto firms under US President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with him. New York-based stablecoin issuer Circle and some existing investors are now looking to raise up to US$896 million from 32 million shares priced between US$27 and US$28 apiece, up from their earlier offer of 24 million shares between US$24 and US$26. Circle's US dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin Bill, which is expected to catalyse institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 US dollar peg, and are commonly used by crypto traders to move funds between tokens. Circle's reserve income, its primary revenue source, from interest on the Treasuries backing its USDC coin, rose 55.1 per cent to US$557.9 million in the quarter ended Mar 31. But distribution and transaction costs for the period jumped 68.2 per cent, outpacing revenue growth for Circle, which distributes USDC primarily via its partnership with Coinbase and other third-party distributors. JPMorgan, Citigroup and Goldman Sachs are the lead underwriters for the offering. Circle will list on the New York Stock Exchange under the symbol 'CRCL'. Circle is poised to go public in New York later this week. REUTERS
CNA
17 hours ago
- Business
- CNA
Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO
Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin market. The upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with him. New York-based stablecoin issuer Circle and some existing investors are now looking to raise up to $896 million from 32 million shares priced between $27 and $28 apiece, up from their earlier offer of 24 million shares between $24 and $26. Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyze institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens. Circle's reserve income, its primary revenue source, from interest on the Treasuries backing its USDC coin, rose 55.1 per cent to $557.9 million in the quarter ended March 31. But distribution and transaction costs for the period jumped 68.2 per cent, outpacing revenue growth for Circle, which distributes USDC primarily via its partnership with Coinbase and other third-party distributors. J.P. Morgan, Citigroup and Goldman Sachs are the lead underwriters for the offering. Circle will list on the New York Stock Exchange under the symbol "CRCL".
