Anand Sinha
2 min read
Circle that rejected Ripple's acquisition offer has a major announcement originally appeared on TheStreet.
New York-based stablecoin issuer Circle Internet Group, which rejected acquisition offers by crypto industry giants such as Ripple and Coinbase (Nasdaq: COIN), has a major announcement, Reuters reported on June 2.
Circle said that it has upsized the size and pricing range of its upcoming initial public offering (IPO), now targeting a higher valuation of up to $7.2 billion on a fully diluted basis.
As reported earlier, Circle has filed for an IPO on the New York Stock Exchange under the ticker symbol "CRCL."
Earlier, the firm was offering 24 million shares of its Class A common stock, which it has now raised to 32 million shares — in the hope of raising up to $896 million.
It has also raised the IPO price range from $24-$26 a share to $27-$28 a share.
Notably, Wall Street giants such as JPMorgan, Citigroup, and Goldman Sachs & Co. LLC are acting as the lead underwriters for the stock offering.
Circle's USDC is the second-largest stablecoin.
A stablecoin is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is usually pegged to a fiat currency like the U.S. dollar or a commodity like gold.
Pegged 1:1 to the USD, USDC accounts for nearly 25% of the total stablecoin market worth $248 billion. Even President Donald Trump-backed crypto venture World Liberty Financial has launched its stablecoin USD1, occupying a meagre 0.008% share as of now.
Circle's latest move is a major development, given the recent stride forward taken by the stablecoin-related GENIUS Act in the Senate.
Circle that rejected Ripple's acquisition offer has a major announcement first appeared on TheStreet on Jun 2, 2025
This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared.
