Circle Files for IPO on NYSE Under Ticker CRCL
Stablecoin issuer Circle has announced plans to go public by listing its stock on the New York Stock Exchange under the ticker CRCL, pending SEC approval.
Key points from Circle's filing include:
- The intention to create a new internet financial platform.
- Circle minted approximately $504 billion of USDC and redeemed about $464 billion between January 1, 2021, and December 31, 2024.
- Adjusted EBITDA for 2024 is projected at $284 million.
- Risks include operating in a rapidly changing industry, reliance on the growth of the Circle stablecoin network, and the need for innovation in products and services.
This filing marks the first public disclosure of Circle’s financials. The company faces challenges in navigating a competitive environment where technology meets regulated financial services. This announcement follows eToro's recent IPO filing.
Expectations for upcoming crypto-related IPOs and mergers are noted, as mentioned by 10T Holdings CEO Dan Tapiero at a recent summit.