IPO, Circle and Stablecoin
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Jeff Bezos' fiancée, Lauren Sánchez, hosted a three-day bachelorette celebration in Paris with her A-list inner circle, offering hints about their upcoming wedding reportedly planned for Venice later this month.
In April, Bloomberg reported that Ripple had made an acquisition offer for Circle valued between $4 billion and $5 billion, which was reportedly rejected as undervalued. Ripple CEO Brad Garlinghouse later disputed the report in a conversation with Georgetown Law professor Chris Brummer.
Circle’s IPO highlights crypto’s mainstream shift, with USDC driving revenue and new fintech services expanding its reach. Read why CRCL stock is a hold.
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But to live up to the market’s soaring expectations, the issuer of USDC might actually be better off in the longer run if interest rates go down. Shares of Circle, which started publicly trading on Thursday,
While Wall Street insiders enjoyed a first day "pop," it appears Circle could have pocketed much more from its debut.
Due to high demand, the stablecoin issuer increased its IPO from a planned 24 million shares. Circle is now worth anywhere from $6.8 billion to $8 billion on a fully diluted value. The company that powers the USDC stablecoin will start trading today on the New York Stock Exchange under the ticker symbol CRCL.
The cryptocurrency company, which offers fully backed digital money for rapid global payments around the clock, priced its IPO above the expected range.
Contact CEO Daily via Diane Brady at [email protected] This story was originally featured on Fortune.com