After scooping up a cool $624 million in investments—because who needs modesty—Circle is now craving more cash, aiming to catapult its valuation to an eye-watering $7.2 billion. Someone’s feeling confident, or perhaps just desperate for a bigger yacht. 🏦
Fresh from a successful initial public offering, the firm is eyeing a grander capital raise, announcing on Monday, June 2, that it intends to issue up to 32 million shares priced between $27 and $28—potentially raking in another $896 million. Yes, really—because if you’re going to dream, dream big (or at least dream of more cash). 💸
This follows a previous romp where Circle hauled in $624 million by flogging 24 million shares at $24 to $26 each. Back then, the company’s valuation flirted with $6.7 billion—meaning it’s now giving Lyft some serious side-eye. Who knew stablecoins could be the new tech buzz? 🚗💨
Circle’s USDC Gets a Boost from the Glad tidings of Regulation
The bullish buzz among investors shows they’re plowing their dollars into the crypto circus under Donald Trump’s less-than-astonishing administration. Stablecoins, in particular, seem to be the belles of the ball, thanks to the promised sunny regulatory skies under the so-called STABLE Act—because nothing says stability like a new law. 📜
Circle is the proud issuer of USD Coin (USDC), which prances around as the second-largest stablecoin after Tether’s USDT. Market cap? A tidy $60.93 billion! That’s a 40% jump from $43 billion in January 2025—clearly USDC is not just stable, but possibly somewhat ambitious too. 🚀
Circle’s primary treasure trove comes from the interest on U.S. Treasuries backing its reserves. In Q1 2025, that raked in a dazzling $557.9 million—an increase of 55.1% year-over-year, thanks to its growing allure. Talk about banking on a stable coin! 💰
J.P. Morgan, Citigroup, and Goldman Sachs are all eager to underwrite this spectacle, with the curtain closing on June 4. The stock will be traded as CRCL on the New York Stock Exchange—because nothing screams stability like Wall Street’s stamp of approval. 🏛️
Oh, and in July 2021, Circle tried to crash the IPO party via a SPAC merger, only to be denied entry when the SEC said “Not today, perhaps tomorrow.” Ah, the glamorous world of finance—full of promise and dashed dreams. 💼
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2025-06-02 18:24