USDC Issuer Circle Files For IPO As Analysts Flag Profitability Concerns
Circle Internet Financial, the issuer of USD Coin (USDC), has filed for an initial public offering (IPO) amid analyst concerns over the company’s profitability. The firm submitted an S-1 form to the Securities and Exchange Commission (SEC) yesterday, which, if approved, will see the company’s stock trade on the New York Stock Exchange under the symbol “CRCL.” Not USDC Issuer’s First Attempt To Go Public Circle , the issuer of the second-largest stablecoin by market capitalization, has been trying to go public since 2021. Its first attempt was a SPAC merger, which failed because the company did not complete the SEC’s “qualification in time,” said CEO Jeremy Allaire. Reports at the time suggested that the SEC simply chose to not sign off on Circle’s plans, but the company denies these claims. Circle then tried a different approach for its second attempt, filing a draft registration for an initial public offering wit...