Circle’s $1.1B IPO Shines as Ripple CEO Dismisses Acquisition Claims

Circle just went public today, kicking off with strong demand. It surprised the market by pricing its IPO at $31 per share, well above the expected $27 to $28 range. The company and existing shareholders sold about 34 million shares, raising approximately $1.1 billion. This pricing values Circle at around $6.9 billion, according to Bloomberg.

Second Big Crypto Listing Goes Live 

The stablecoin issuer was set to go live today on the NYSE under the ticker “CRCL.” Circle has also given its underwriters a 30-day option to buy an extra 5.1 million shares. BlackRock plans to buy 10% of Circle’s IPO shares, while ARK Invest plans to invest up to $150 million. This IPO is the second big crypto listing under the Trump administration, after eToro’s debut last month.

This move gives Circle more access to funding and stronger regulatory oversight that will help improve investor confidence amidst recent volatility in crypto markets. 

Ripple Denies Circle Acquisition Rumors

This comes shortly after the rumors of a potential acquisition by Ripple were put to rest. Ripple CEO Brad Garlinghouse shared during a Las Vegas Bitcoin conference that Ripple had never pursued an acquisition of Circle, while some reports had suggested that Circle had denied a $5 billion offer from Ripple. Coinbase was also on the list to acquire Circle. 

Nevertheless, Circle’s IPO shows rising institutional interest in stablecoins and the broader crypto market. U.S. lawmakers are also pushing for clearer rules for stablecoins, which marks a major shift in how these digital assets will be viewed in the country. Lately, Wall Street giants have also shown interest in exploring their own stablecoin plans.

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Why Institutions Could Choose Circle-

Circle is one of the first big crypto companies. The USDC, issued by Circle, is the second most popular stablecoin, holding 27% of the market, while Tether’s USDT leads at 67%. Circle’s IPO is also one of the biggest since Coinbase’s 2021 Debut. This is a big step for crypto moving into traditional finance. 

More crypto firms are eyeing the public market. Kraken is reportedly planning an IPO this year, while BitGo launched a global trading desk in February ahead of its listing plans.

Circle’s USDC coin is likely to be favored by institutions due to the company’s strict regulatory focus. It was the first to get a New York State BitLicense in 2015, which gives it an advantage as banks and fintech firms look to enter the stablecoin space.

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