Stablecoin Issuer Circle Files for IPO on New York Stock Exchange

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Circle’s IPO: The Crypto Comedy Show You Didn’t Know You Needed! 🎭💰

Well, folks, grab your popcorn! 🍿 Circle Internet Group, the masterminds behind USDC—the second-largest stablecoin in the universe (sorry, Bitcoin, you’re still the heavyweight champ)—has finally decided to strut its stuff on the New York Stock Exchange! After years of trying to go public, it’s like watching a tortoise in a marathon—slow and steady, but hey, it’s finally here!

According to Tuesday’s filing (because who doesn’t love a good filing?), Circle is ready to unleash 24 million shares of Class A common stock. That’s right, 9.6 million will be sold directly by the company, while the other 14.4 million are from shareholders who are just itching to cash in. And wait for it—underwriters might get a 30-day option to snag an extra 3.6 million shares! Talk about a shopping spree! 🛒

Now, let’s talk numbers! The shares are expected to be priced between $24 and $26. If they hit the jackpot at $26, Circle could rake in a whopping $250 million! Meanwhile, the selling stakeholders could be laughing all the way to the bank with nearly $375 million. And what’s the ticker symbol? Drumroll, please… CRCL! Sounds like a new dance move, doesn’t it? 💃

J.P. Morgan, Citigroup, and Goldman Sachs are the big shots leading this offering, proving that even the suits are interested in this crypto circus. 🎩

Circle’s CEO, Jeremy Allaire, has been trying to go public for almost four years. It’s like waiting for a sequel to your favorite movie—will it ever happen? Back in 2021, they tried to list through a SPAC deal, but it fell apart faster than a cheap suit at a wedding. Recently, in April 2024, they filed paperwork with the U.S. Securities and Exchange Commission, signaling a fresh push. Or was it a fresh push to the snack bar? 🍕

But hold your horses! Reports say Circle might be thinking about postponing the IPO and exploring other options, like a potential $5 billion acquisition. Fortune even spilled the beans that Coinbase and Ripple are interested in a possible deal. It’s like a reality show, and we’re all just here for the drama! 📺

If this IPO goes off without a hitch, it could be a game-changer for the crypto industry’s relationship with traditional finance. Or at least a really good punchline! 😂

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2025-05-27 15:33