USDC

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/circle-prepares-for-ipo-and-achieves-significant-valuation/" data-wpel-link="internal">Circle Prepares for IPO and Achieves Significant Valuation</a> 
For the largest companies in this field, the next step is going public, and some mining companies have achieved this with <a href="https://en.coin-turk.com/sec-classification-of-xrp-sparks-renewed-calls-for-coinbase-relisting/" data-wpel-link="internal">Coinbase</a>. Going public will also bring tighter, regular audits, which is beneficial for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. Soon, we will see one of the largest stablecoin companies go public. 
<h2 style="text-align: justify" id="circle-ipo">Circle IPO</h2> 
Circle Internet Financial is already the issuer of one of the largest stablecoins, USDC. Recently, the company received a MiCA-compliant service license, becoming the first global stablecoin company in Europe. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-375359 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/Circle.png" alt="" width="879" height="314"> 
According to sources familiar with the matter, Circle reached a certain valuation before the IPO. Sources say the company will reach a valuation between $5 billion and $5.25 billion based on share pricing. 
The second-largest stablecoin, USDC, experienced turbulent days, especially during the discounted sale of low-interest bonds due to the bankruptcy of banks. However, it managed to recover quickly. Before the planned IPO, Circle allows trading of some shares in the secondary market. Most of the sellers are company employees. However, shares are not allowed to be sold below a $5 billion valuation. 
<h2 style="text-align: justify" id="crypto-company-ipo">Crypto Company IPO</h2> 
In 2022, a valuation of around $9 billion was mentioned, but now figures of $5 billion are being discussed for shares. Due to the FTX collapse, the agreement with a special purpose acquisition company (SPAC) named Concord Acquisition Corp was shelved at that time. The SEC was vowing revenge due to the nightmare SBF caused for US citizens. 
According to sources, the $5 billion valuation is a floor set for secondary market sales, so there is no cause for concern. When approvals for the actual stock exchange listing come, a valuation target of $9 billion may be seen again. 
A report published earlier this year mentioned that the number of wallets with a balance over $10 had reached 2.7 million, an increase of nearly 60% compared to the previous year. This is a positive detail for Circle’s valuation, along with the strong increase in USDC adoption. 
Circle submitted the S-1 Form to the SEC before the IPO (January 2024) and took steps to move its headquarters from Ireland to the US. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/circle-prepares-for-ipo-and-achieves-significant-valuation/" data-wpel-link="internal">Circle Prepares for IPO and Achieves Significant Valuation</a></h5>
The post <a href="https://en.coin-turk.com/circle-prepares-for-ipo-and-achieves-significant-valuation/" data-wpel-link="internal">Circle Prepares for IPO and Achieves Significant Valuation</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Circle Prepares for IPO and Achieves Significant Valuation

Spis treści

COINTURK NEWS

Inne artykuły opublikowane 30 lip 2024

Renowned Economist Alex Kruger Reveals Why Investors Should Buy Bitcoin

Solana to Outshine Ethereum? Investors Go Bullish on SOL

Hong Kong Police Arrest Four, Including 14-Year-Old, for Counterfeit Crypto Scam

MetalSwap <> Chainlink Paper 1 - NFT Staking

Polkadot Price Declines Despite High Holder Count

“U.S. Govt May Sell All Its Bitcoin Holdings” — Peter Schiff

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!