Stablecoin Giant Circle Targets $6.7 Billion Valuation in U.S. IPO

Circle Internet said on Tuesday it was targeting a valuation of up to $6.71 billion on a fully diluted basis in its U.S. initial public offering, as the stablecoin giant looks to tap into growing optimism around cryptocy. New York-based Circle and some existing investors are looking to raise up to $624 million by offering 24 million shares priced between $24 and $26 apiece. Progress in trade talks between the U.S. and its top trading partners has also injected life into the IPO market, prompting companies to go ahead with their stock market launches as tariff-driven turbulence has eased.