Circle, the company behind USDC, is facing pressure to postpone its planned initial public offering (IPO) amid market volatility sparked by U.S. President Donald Trump’s sweeping trade tariffs. Sources tell The Wall Street Journal that Circle executives are ‘waiting anxiously’ before proceeding. No details regarding the number of shares or IPO price have been disclosed yet, but they plan to list under the ticker CRCL. 2023 was a strong year for Circle and its USDC stablecoin, with $155.7 million in net income, although this is down from $267.6 million in the previous year. However, the company faces challenges, including recent market uncertainty driven by Trump’s tariff orders. These tariffs have triggered a global trade downturn impacting investors, particularly those invested in riskier assets such as cryptocurrencies and fintech companies. 2023 was marked by increasing demand for stablecoins and a broader crypto rally earlier this year but the company’s IPO ambitions could be impacted if economic conditions worsen or market sentiment continues to deteriorate. 2024 also saw Circle suffer a significant downturn in profitability with $908 million paid to Coinbase for USDC distribution, highlighting the challenging environment for the company.