Circle Files for IPO, Betting on Trump’s Pro-Crypto Shift
Circle, the company behind the world’s second-largest stablecoin, is going public in a second attempt. But this IPO concerns more than balance sheets and market caps, it’s a daring wager on Washington’s changing attitude toward crypto. After a failed SPAC merger in 2022, Circle has filed to list on the New York Stock Exchange under the ticker CRCL.
Don’t Miss Our End of Quarter Offers:
The numbers look solid, as Circle generated $1.66 billion in revenue last year, mostly from interest on reserves backing its USDC coin. However, net income fell to $156 million as Circle spent heavily – $1 billion in fees and incentives – to stay competitive.
Still, the real story isn’t in the financials. It’s in the timing.
“The Crypto…
Source link
