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Financemagnates
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Stablecoin Issuer Circle Files for US IPO Despite 42% Profit Decline
- Stablecoin issuer Circle has filed for a US IPO, planning to list its shares on the NYSE.
- Circle previously attempted to go public through a blank-cheque merger but did not succeed.
- In 2024, Circle's revenue increased by 16%, reaching $1.67 billion, but its net income dropped by 41.8% to $155.6 million.
- Circle paid nearly $908 million to Coinbase for circulating its stablecoin USDC.
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