Circle Internet Financial’s private stock is currently valued between $5 billion and $5.25 billion on the secondary market, according to CoinDesk sources.
The trading activity is confined to select scenarios, with shares primarily sold by early investors or Circle employees looking to liquidate their options before the company’s public debut.
Circle filed a confidential S-1 form with the SEC in January, preparing for its equity services to go public.
The Block has sought comment from Circle on these developments.
Circle’s Previous IPO Attempt
In July 2021, Circle unveiled plans to go public through a $4.5 billion merger with Concord Acquisition Corp., a SPAC.
Just two months earlier, Circle had secured $440 million from notable investors including Fidelity, Valor Capital Group, and Marshall Wace.
By mid-2022, Circle scrapped its initial Concord deal and renegotiated terms. The company’s valuation surged to $9 billion by February 2022.
Now, Circle is eyeing another public debut, aiming for a 2024 launch. The issuer of USDC, a USD-pegged stablecoin, holds a 21% share of the stablecoin market.
With a business market cap of $33.6 billion and a 24-hour trading volume of $6.6 billion, USDC continues to be a key player in the crypto world.
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