Circle Said to Be Trading Around $5B Valuation Ahead of Planned IPO: Sources
Powered by @unfoldedCircle Internet Financial, the issuer of the USDC stablecoin, is reportedly trading in the secondary market at a valuation of $5 billion to $5.25 billion ahead of its planned initial public offering (IPO).
The secondary market trades are being allowed on a case-by-case basis and only in specific situations.
The sellers in the secondary market are said to be early-stage investors divesting for liquidity reasons or Circle employees.
Circle previously reached a valuation of about $9 billion in 2022 when it attempted to go public through a failed SPAC deal.