#Circle Raises $1.1 Billion in Oversubscribed IPO at $6.9 Billion Valuation


Stablecoin issuer #Circle priced its initial public offering at $31 per share, exceeding the marketed range of $27- $28.


The company and shareholders sold 34 million shares, up from the originally planned 24 million shares.


Circle's valuation reached $6.9 billion on an outstanding shares basis, with $8.1 billion fully diluted, including options and warrants.


Shares began trading on Thursday on the New York Stock Exchange under the ticker CRCL following the successful fundraise.


Circle's $USDC stablecoin reportedly commands 24.5% market share with $61.5 billion in circulation.


#BlackRock, which manages the $53.3 billion reserve fund backing $USDC, acquired 10% of IPO shares, according to Bloomberg sources.


#ARKInvest expressed interest in purchasing up to $150 million worth of shares in the offering.


The company reported $156 million net income on $1.68 billion revenue for 2024, down from $268 million the previous year.


Circle's listing coincides with Congress advancing stablecoin regulation legislation, expected to pass in August.


The firm has held a New York BitLicense since 2015 and is recognized as one of the most compliance-focused players in the #stablecoin space.

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June 05, 2025 at 12:10 PM
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