Circle Raises $1.1 Billion in IPO, Valuing Firm at $6.9 Billion

Circle Internet Group, the company behind the USDC stablecoin, has successfully completed its initial public offering (IPO), raising $1.05 billion after selling 34 million shares for $31 each. The IPO values Circle at approximately $6.8 billion and nearly $8 billion when factoring in fully diluted shares, encompassing options and other securities. This significant milestone marks a pivotal moment for the crypto industry as shares will begin trading on the New York Stock Exchange under the ticker CRCL starting Thursday. JPMorgan Chase, Goldman Sachs, and Citigroup served as underwriters. 📈