Circle Chairman, CEO and co-founder Jeremy Allerle commented on the “America’s first digital dollar,” the relationship between the SEC and cryptocurrency, and the company’s goal of publishing it.
- Circle Internet Group disclosed a jump of almost 16% of revenue, reporting revenue and reserves of $1.68 billion last year.
- The Circle is attempting a second listing on the New York Stock Exchange.
- The US has embraced cryptocurrency and, together with President Donald Trump’s SEC leader Paul Atkins, pledged to adopt a more “rational” approach to cryptocurrency.
Circle Internet Group disclosed a jump of nearly 16% of revenue after the market closed on Tuesday. New York Stock Exchange.
The company reported revenue and reserves of $1.68 billion last year compared to $1.45 billion in 2023. Net income from continuing operations was nearly $157 million in 2024, with $271.5 million the previous year.
The IPO market is currently in a sensitive spot. This is because investors are trying to balance demand for new listings with the risks posed by economic uncertainties such as tariffs.
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But the US accepts cryptocurrency Paul AtkinsPresident Donald Trump’s choice to lead the Securities and Exchange Commission is pledged to adopt a more “rational” approach to crypto regulations.
The US flag is dependent on the construction of the New York Stock Exchange in New York City on November 6, 2024. (Reuters/Andrew Kelly/File Photo/Reuters)
“In many ways, the circle has been under intense public scrutiny for a long time,” co-founder and CEO Jeremy Allerle wrote in the letter. “Being a publicly available company is a continuation of our desire to fulfill the greatest transparency and accountability possible.”
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USDC is the second largest StablecoinAccording to the entire Tether and the seventh largest crypto token, according to market tracker Coingecko.
The duo mainly dominates the market, but competition is growing. Paypal and Ripple have their own stubcoins, but Trump’s World Liberty Financial has similarly committed to launching one.
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The circle had previously been trying to make public through a $9 billion merger with a special purpose acquisition company, but the deal ended in late 2022. It was submitted secretly to the IPO last year.
Stablecoins are digital tokens designed to maintain a constant value. They are supported by traditional low-risk assets such as the US dollar, the euro and Treasury bonds.
JP Morgan and Citigroup are the leading underwriters of Circle’s IPOs. The company plans to trade under the ticker “CRCL.”
