Circle Upsizes IPO Targeting $7.2 Billion Valuation on June 2, 2025

On June 2, 2025, Circle Internet Group, based in New York, announced an upsized initial public offering (IPO). The stablecoin issuer, which previously rejected acquisition offers from Ripple and Coinbase, now targets a valuation of up to $7.2 billion. The firm increased its offering to 32 million shares, aiming to raise up to $896 million. The IPO price range has also been raised from $24-$26 to $27-$28 per share. JPMorgan, Citigroup, and Goldman Sachs & Co. LLC are the lead underwriters for the stock offering. Circle's USDC stablecoin accounts for nearly 25% of the total stablecoin market, valued at $248 billion, as of June 2, 2025. (Source: TheStreet, June 2, 2025)