Stablesoin ISSUER circuit files for US IPO despite 42 % decrease

Stableco Issuer Circle presented the S-1 model with the Securities and Stock Exchange Committee (SEC) yesterday (Tuesday), which officially confirms its intention to include its shares publicly on the New York Stock Exchange. If inserted, Circle shares will be traced under the title “CRCL”.

However, the company did not reveal the number of shares that it intends to provide through the initial public offering (IPO) or the expected listing price. As a result, the intended evaluation of the company is still unknown.

Another list attempt

Circle also tried to take the public company in 2022 through a Cheque’s empty integration process with a rate of $ 9 billion, but those efforts were not achieved. Meanwhile, according to Swidk, the shares of Surke were trading in a rating ranging between $ 5 billion to 5.25 billion dollars in secondary markets.

Circle was founded in 2013, the second largest exporter Stablecoin. The market value of the USD-PEGGD Stablecoin is more than $ 60 billion. For USDC governance, Circle and Crypto Excination Coinbase initially managed from the focused consortium, which was dissolved last August. Coinbase now holds an unannounced share in Circle.

The latest SEC files also revealed that the circle paid about $ 908 million to Coinbase, its main distribution partner, for USDC trading.

The revenues jumped, but the profit decreased

Circle’s revenue for 2024 amounted to $ 1.67 billion, which represents a 16 percent increase on an annual basis. However, his net income last year decreased by 41.8 percent to 155.6 million dollars. While the past two years were profitable, the company recorded a net loss of $ 761.7 million in 2022.

The deposit also revealed that 99 percent of the revenues of Surk came from the stablecoin reserves. The company also earns an income from the detention of the cabinet bills.

Currently, Coinbase is one of the leading pillars in the United States. Regardless of Circle, Crypto Exchange Kaken and Blockchain Security Bitgo, according to what was stated in the public list later this year or early next year.

Etoro is another company that recently introduced a similar file with SEC to include the United States. Although the Israeli company provides a wide range of trading tools, it produced 38 percent of its cryptocurrencies alone in 2024. It also ended the year with net profits of $ 192 million.