Circle Guns for $7.2B Valuation—Again—in Latest Share Sale Play

Stablecoin giant Circle isn’t done cashing in on crypto’s resurgence. Fresh off its first attempt, the company’s doubling down with another share offering—same sky-high valuation, same Wall Street poker face.

Because why settle for less when you can convince investors to buy the same dream twice? The $7.2B price tag sticks like last year’s ambition, proving even in decentralized finance, old-school hubris never goes out of style.

Watch those private shares fly off the shelf—until the next ‘strategic pivot,’ anyway.

Circle’s USDC to benefit from regulatory clarity

The strong investor demand for shares reflects growing Optimism around the crypto industry under Donald Trump’s administration. This is especially true for stablecoins, which are expected to benefit from enhanced regulatory clarity under the proposed STABLE Act.

Circle is the issuer of USD Coin (USDC), the second-largest stablecoin globally after Tether’s USDT. With a market cap of $60.93 billion, USDC is also the largest stablecoin issued by a U.S. company. Its market cap has surged 40% from $43 billion in January 2025.

The company’s primary revenue stream is interest earned on U.S. Treasuries backing its stablecoin reserves. In Q1 2025, this brought in $557.9 million in revenue, a 55.1% increase year over year, driven by the expansion of Circle’s market cap.

J.P. Morgan, Citigroup, and Goldman Sachs are underwriting the offering, which is scheduled to close on Wednesday, June 4. Circle will trade on the New York Stock Exchange under the ticker symbol CRCL.

In July 2021, Circle attempted to go public via a SPAC merger, but the deal ultimately failed after the U.S. Securities and Exchange Commission did not approve it in time.