Circle’s IPO Plans Facing Potential Shakeup Amid Acquisition Talks

Circle Internet Financial, issuer of the popular USDC stablecoin, is pursuing an IPO aiming for a valuation exceeding $5 billion. This IPO filing came in April with potential launch as early as June 2025. JPMorgan Chase and Citi are leading the underwriting process, which would be a significant step forward for the company and the wider cryptocurrency industry. However, Circle’s plans face uncertainty due to ongoing talks of selling the company to either Coinbase, the largest US crypto exchange, or Ripple, a major blockchain payments firm.