Circle Plans 2024 IPO After Failed SPAC Deal as Stablecoin Market Falters
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Circle considering going public in early 2024 through an IPO, according to Bloomberg report.
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Circle originally agreed to go public via $4.5B merger in 2021, but deal fell through.
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Circle was valued at $9B in Feb 2022 after revising merger deal, but USDC market cap has since fallen 56%.
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Circle has received investments from major financial firms like BlackRock, Goldman Sachs.
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USDC briefly depegged in March 2022 due to exposure to failed Silicon Valley Bank.