Circle Launches IPO in Major Crypto Market Debut

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The blockchain financial firm behind USD Coin (USDC) has initiated its highly anticipated IPO, seeking to raise $624 million at an estimated $6 billion valuation. The move marks a watershed moment for the stablecoin sector’s integration with traditional finance.

According to Thursday’s SEC filing, Circle plans to offer 24 million Class A shares priced between $24-$26, with 9.6 million new shares issued by the company and 14.4 million sold by existing investors.

The midpoint pricing would value the Jeremy Allaire-led company at $5.65 billion – or $6.7 billion including all outstanding equity, per Reuters analysis.

The offering has already attracted notable interest, with Cathie Wood’s ARK Invest signaling plans to acquire up to $150 million in stock. Underwriters retain a 30-day option to purchase an extra 3.6 million shares to cover over-allotments.