Circle Files for IPO with $5 Billion Valuation
Circle Internet Financial, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) with a valuation of $5 billion. Backed by JPMorgan and Citigroup, this move marks Circle's second attempt to go public after a failed SPAC deal in 2021. The company's revenue heavily relies on interest from short-term investments, making it susceptible to interest rate volatility .
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