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Circle is set to file for an IPO in late April, partnering with JPMorgan and Citi, aiming for a valuation between $4 billion and $5 billion. This move follows a previous attempt that was abandoned in 2022 due to market conditions and regulatory scrutiny. The anticipated IPO could be the largest in the crypto sector since Coinbase's debut in 2021.
Circle Internet Financial, creator of the USDC stablecoin, is preparing for an IPO with guidance from JPMorgan and Citi, aiming to file documentation by late April 2025. The company seeks a valuation of $4 billion to $5 billion, a decrease from its previous $9 billion target, as it faces scrutiny over its revenue reliance on USDC reserves. With USDC's market cap surpassing $60 billion, this IPO could be the most significant in the crypto sector since Coinbase's debut in 2021.
Deutsche Bank has reduced its 2025 US light vehicle sales forecast by 500,000 to 15.4 million due to impending tariffs affecting auto supply chains and prices. Analysts predict a short-term sales boost as consumers rush to purchase before price hikes, but a significant decline is expected afterward.In the tech sector, Palantir's shares fell amid concerns over government spending cuts, while Moderna's stock dropped 10% following the resignation of the FDA's vaccine chief, raising questions about vaccine safety. Overall, US stocks faced a slump, particularly in consumer discretionary and tech sectors, as fears of an economic slowdown intensified.
Circle is set to publicly file for its long-awaited IPO in late April, marking its second attempt after a failed SPAC merger in 2022. The offering, which could be the largest crypto IPO since Coinbase's direct listing, comes amid a recovering market for public listings and evolving stablecoin legislation in Congress. Circle aims for a valuation between $4 billion and $5 billion, despite facing challenges, including a significant drop in USDC's market cap and reliance on interest income for revenue.
Coinbase executives have raised concerns about the potential for overcentralization in Ethereum staking due to the company's significant market dominance. This situation could pose risks to the decentralized nature of the Ethereum network, prompting discussions on the implications for the broader ecosystem.
BlackRock has launched the iShare Bitcoin ETP for European investors, allowing access to Bitcoin without direct trading, backed by Coinbase custody. This rapid development has prompted UBS, previously skeptical of cryptocurrencies, to quickly adapt and enter the market, driven by competitive pressures and missed opportunities in the crypto boom. Chief Investment Officer Mark Haefele's past forecasts have often been inaccurate, raising questions about UBS's strategy moving forward.
Kraken is exploring a $1 billion debt raise with Goldman Sachs and JPMorgan as it prepares for a potential IPO, possibly in Q1 2026. This follows the SEC dropping its case against the exchange for alleged securities law violations. The company previously considered going public as early as 2021 and reported over $1.5 billion in revenue in 2024.
Coinbase has emerged as the largest node operator for Ethereum, securing an 11% stake in the network. This significant position underscores the company's growing influence within the cryptocurrency ecosystem and its commitment to supporting Ethereum's infrastructure.
Privy, a New York-based Web3 wallet infrastructure company, has secured $15 million in a funding round led by Ribbit Capital, bringing its total funding to over $40 million. The investment also saw participation from notable investors like Sequoia Capital and Coinbase. With the new capital, Privy aims to double its workforce from 25 to 50 employees within the next 18 months, focusing on enhancing its product, engineering, legal, and go-to-market teams.
David Sacks, an adviser to former President Trump on AI and cryptocurrencies, has divested over $200 million in digital assets, including bitcoin and ethereum, ahead of his new role. His firm, Craft Ventures, sold all liquid cryptocurrency holdings and exited investments in Coinbase and Robinhood, while Sacks personally faced significant tax costs. Despite these divestments, he retains interests in some illiquid digital asset firms, as part of a waiver to serve as Trump's AI and crypto adviser.
Coinbase Global, Inc.
Companies
| Symbol | COIN |
| Name | Coinbase Global, Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | DE |
| City | Wilmington |
| Zipcode | 19801 |
| Website | http://www.coinbase.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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