\n<\/p>\n
Circle, the issuer of USDC, a stablecoin pegged to the U.S. dollar, filed to go public on Tuesday<\/a>.<\/p>\n The company, which makes money from interest earned on its reserve assets, reported that its 2024 revenue and reserve income was $1.68 billion, up from $1.45 billion the year prior. Circle\u2019s 2024 net income was $156 million, down from $268 million in 2023.<\/p>\n This is Circle\u2019s second attempt at listing on the stock exchange. The company previously tried to go public<\/a> by combining with a SPAC in 2022 but scrapped its plans when the SEC didn\u2019t approve the merger within an expected timeframe. Before failing, the SPAC deal valued Circle at $9 billion<\/a>.<\/p>\n While it is not clear what value the company will fetch in its IPO, Renaissance Capital estimates that the company will attempt to raise $750 million<\/a> in its offering.<\/p>\n According to the regulatory filing, investors with more than 5% ownership in the company include Accel, General Catalyst, Breyer, IDG Capital, and Oak Investment Partners.<\/p>\n Circle USDC in circulation are valued at $60 billion, according to the filing.<\/p>\n The company is planning its IPO amid the Trump administration\u2019s supportive stance on crypto assets<\/a>.<\/p>\n<\/div>\n