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circle hires jpmorgan and citigroup to prepare for ipo

Circle, the issuer of the USDC stablecoin, has engaged JPMorgan and Citigroup as lead underwriters for its upcoming IPO, anticipated by summer. The company aims for a $5 billion valuation and plans to file its prospectus by late April, following a previous attempt to go public that was halted in 2021. Stablecoins like USDC are pegged to assets such as the U.S. dollar, and Circle is the second-largest stablecoin issuer after Tether.

Tether plans Big Four audit to enhance transparency of reserves

Tether is in talks with a Big Four accounting firm to conduct a full audit of its reserves, responding to demands for greater transparency. CEO Paolo Ardoino emphasized the audit as a priority, noting the supportive US regulatory environment, though details on the firm and timeline remain unspecified. As of December 31, 2024, Tether held over $94 billion in US Treasury bills and $108 million in cash, with Cantor Fitzgerald managing the majority of its Treasury assets.
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