tl;dr
Circle, the stablecoin issuer, is determined to go public despite delays in the initial public offering (IPO) approval process. CEO Jeremy Allaire remains committed to the stock market launch, emphasizing the company's financial strength and solid business. Circle's proposed merger with a special pu...
Circle, the stablecoin issuer, remains committed to becoming a publicly listed company despite delays in the IPO approval process, emphasizing strong financial position and business stability. CEO Jeremy Allaire expresses confidence in Circle's potential in public markets and anticipates regulatory clarity for stablecoins to attract traditional financial firms into the crypto market.
Circle's proposed merger with a special purpose acquisition company was terminated, but Allaire believes that regulatory clarity for stablecoins could emerge after the November elections, potentially opening doors for traditional financial firms to enter the crypto market.
In January, Circle announced it had submitted a draft registration statement to the SEC related to a proposed IPO. Despite nine months passing, CEO Jeremy Allaire asserts the company's commitment to a stock market launch, stating, "We think we can be a really interesting company in public markets… We’re in a financially strong position and have been able to build a very solid business, and we’re currently not seeking any funding."
Circle's proposed merger with SPAC Concord Acquisition was terminated in 2022. Allaire believes that lawmakers may pass a key stablecoin bill after the November elections, potentially opening the doors for traditional financial firms to enter the crypto market.
According to the Circle executive, regulatory clarity for stablecoins would enable traditional financial firms to enter the crypto market, as they "are only going to work with regulated infrastructure." Circle has positioned itself toward that end.
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Sector: PETROLEUM REFINING
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EPS: 3.3
Dividend Yield: 19.08
52-Week High: $402.63
52-Week Low: $0.0483
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