Circle plans 2024 IPO after 2021 failure: Bloomberg

[ad_1]

Stablecoin issuer Circle Internet Financial is considering a listing but has not yet made a final decision.

USDC issuer Circle Internet Financial Ltd. is considering an IPO in 2024, three years after it announced plans to go public through a special purpose acquisition company (SPAC) deal with Concord Acquisition Corp.

The Boston-based company is currently in talks with advisers, according to Bloomberg. So far, no final decision has been made as discussions are still ongoing. While Circle neither confirmed nor denied the report, a spokesperson told Bloomberg that “becoming a U.S. public company has long been part of Circle’s strategic vision.”

Circle’s IPO plan

Initially, Circle planned to become a public company in July 2021. However, in 2022, the USDC issuer announced a new agreement with Concord Acquisition Corp., giving it a valuation of $9 billion.

Nonetheless, its much-anticipated and highly anticipated SPAC deal failed to materialize due to the U.S. Securities and Exchange Commission’s (SEC) reluctance to approve the application.

In August 2023, U.S. cryptocurrency exchange Coinbase acquired a minority stake in Circle, with both entities taking a major step toward unwinding their central alliance partnership. The idea behind the USDC stablecoin was originally circle.

Later, the company established a consortium called Center to manage stablecoins. In addition to Coinbase, Circle has raised funds from investors including Goldman Sachs, BlackRock, Fidelity, Marshall Wace and others.

In late September 2023, Circle filed a note of protest as part of the SEC’s lawsuit against cryptocurrency exchange Binance.The company ask The court excluded stablecoins from the lawsuit because they cannot be considered securities. The appeal stated that the tokens did not have the characteristics of investment contracts.


Follow us on Google News

[ad_2]

Source link

Related Posts

NEAR and Polygon collaborate on zero-knowledge proof innovation

[ad_1] The NEAR Foundation has partnered with Polygon Labs to develop zkWASM, a cutting-edge zero-knowledge solution that enhances the interoperability and security of WASM chains. The NEAR…

Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance

[ad_1] Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance AmazonThe world’s largest online retail and technology provider, through its web services arm AWS (Amazon Web Services), recently revealed…

Financial giant Fidelity responds to 9 common misconceptions and criticisms about Bitcoin

[ad_1] Financial services giant Fidelity has addressed nine common criticisms and misconceptions about Bitcoin, highlighting that some of them are “unfounded or unlikely to be…

Third-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Lyft reports: Third-quarter profits down, revenue up Investing.com – Lyft (NASDAQ: ) on Wednesday reported third-quarter results that missed analysts’ expectations and revenue that beat…

CEHV partners say future uncertain during Genesis shutdown

[ad_1] Many analysts are speculating on the outcome of the spot Bitcoin ETF race, and CEHV partner Adam Cochran shared his views in a Nov. 8 X…

Second-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Take-Two reports: Second-quarter profits fall, revenue rises Investing.com – Take-Two (NASDAQ: ) on Wednesday reported second-quarter results that missed analysts’ expectations and revenue that beat…

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *