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Crypto firm Circle Internet said on Monday it was targeting a valuation of up to $7.2 billion on a fully diluted basis in its upsized initial public offering in the United States, underscoring growing momentum in the stablecoin market.
The upsized IPO indicates strong investor appetite for crypto firms under U.S. President Donald Trump, who has not only promised friendlier regulations for the sector, but also has several crypto projects associated with him.
New York-based stablecoin issuer Circle and some existing investors are now looking to raise…
