3
Circle Internet priced its upsized IPO at $31 per share, exceeding initial expectations and raising $1.05 billion. This move values the USDC stablecoin issuer at approximately $8 billion on a fully diluted basis. The IPO, which involved the sale of 34 million shares by Circle and its shareholders, injects significant momentum into the cryptocurrency sector, signaling a growing trend of late-stage crypto firms seeking public market access. The initial marketing range for the IPO was between $27 and $28, indicating strong investor demand that allowed Circle to price the offering above this range. This successful IPO underscores the increasing mainstream acceptance and financial viability of cryptocurrency-related businesses.
