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Stablecoin Issuer Circle Files for IPO After Big Revenue Report

Circle Internet Group filed for a long-awaited initial public offering with the US Securities and Exchange Commission on April 1. In its S-1 form, the company outlined plans to list its stock on the New York Stock Exchange under the symbol CRCL. The firm, which issues the second-largest stablecoin by market capitalization, USDC, also posted steadily increasing revenue. Circle reported a net income of $156 million on revenue of $1.68 billion in 2024, compared with a net income of $268 million on $1.45 billion in revenue the previous year. Circle Files for IPO $1.7B revenues (+16% y/y) $285M EBIDTA (-29% y/y) $155M Net Income (-42%) pic.twitter.com/qHldPakfRr — matthew sigel, recovering CFA (@matthew_sigel) April 1, 2025 Circle’s Long-Awaited IPO “Going public now is representative of the fact that we are at a significant crossroads for Circle and the development of the internet financial system,” said Circle CEO Jeremy Allaire in a letter to investors that was included in the prospectus. “While we are proud and confident about our ability to pursue this opportunity, our future (like our past) is rife with uncertainties and risks that we must navigate successfully,” he added. Circle’s public offering has been one of the most anticipated in the crypto industry, as it has been trying to do so for years. Details of the firm’s share sale, including the proposed price range and the number of shares, were not disclosed and will be disclosed in a later filing. “For Circle, becoming a publicly traded corporation on the NYSE is a continuation of our desire to operate with the greatest transparency and accountability possible,” said Allaire, who added: “We are building what we believe to be critical infrastructure for the financial system, and we seek to work with leading companies and governments around the world in shaping and building this new internet financial system.” USDC is the second-largest stablecoin behind Tether’s USDT, with a circulation of $60 billion and a market share of around 25%. Tether, which boosted its Bitcoin reserves with a $735 million purchase this week, remains the clear industry leader with a 60% market dominance. Trump Son’s Mining Firm Plans IPO In related news, a crypto mining venture announced this week between Hut 8 and an investor group that includes two sons of US President Donald Trump, called American Bitcoin Corp., also announced plans to go public eventually. Hut 8 CEO Asher Genoot told Bloomberg on April 1 that, in the long term, it would be seen as two sister publicly traded companies. Eric Trump, who co-founded American Bitcoin, said, “By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.” The post Stablecoin Issuer Circle Files for IPO After Big Revenue Report appeared first on CryptoPotato .

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WhiteBIT Nova surpasses 1 million transactions

WhiteBIT , the largest cryptocurrency exchange in Europe by traffic, has announced that WhiteBIT Nova, its crypto card supported by Visa , has processed over a million transactions, as per the reports shared with Finbold on Thursday, April 3. The numbers are a major milestone not only for WhiteBIT but the broader crypto industry , as they highlight the increasing adoption of digital assets as an everyday spending alternative to fiat. The growing adoption of crypto payment solutions By some estimates , nearly one in five crypto holders is expected to use digital assets for everyday purchases by 2026. The projections are expected given that over 560 million people now own crypto, meaning there is a vast potential user base for emerging crypto cards which incentivize adoption with enhanced privacy, simplified borderless transactions, the ability to convert digital assets into fiat, and various rewards. Another statistic worth noting is that the crypto credit card market, valued at $1.3 billion in 2024, is predicted to reach no less than $220.46 billion by 2033 — an annual growth rate of 8.6%. The most commonly spent digital currencies right now include USD Coin ( USDC ), Bitcoin ( BTC ), Ethereum ( ETH ), and WhiteBIT Coin ( WBT ), and they are used for a wide range of transactions, for example, on platforms like Spotify, YouTube , and PlayStation . Luxury retailers are also seeing significant engagement, although everyday grocery shopping, dining, and online subscriptions remain the most popular spending categories. Crypto card incentives Rewards like cashbacks remain the top incentive for crypto card adoption. For instance, grocery purchases account for the largest share of cashback (22.8%), followed by food and café spending (20.4%) at number two and subscription services (14.1%) at number three. This, among other reasons, is why 88.52% of WhiteBIT Nova users opt for the digital version of the card. The trend also aligns with the growing digital wallet adoption, which has been projected to grow by 53% from 2022 to 2026, reaching 5.2 billion users. The post WhiteBIT Nova surpasses 1 million transactions appeared first on Finbold . Crypto Potato

U.S. SEC Nominee Atkins Gets Confirmation Nod from Senate Banking Committee

The U.S. Senate Banking Committee has voted to advance the confirmations of President Donald Trump`s picks to run the Securities and Exchange Commission and the Office of the Comptroller of the Currency — both key positions for the future U.S. regulation of the crypto sector. The nominations of Paul Atkins to permanently take over the SEC from former Chair Gary Gensler and of Jonathan Gould to lead the banking regulator OCC now move to consideration by the overall Senate. Approvals there will allow Atkins and Gould to start work at the regulatory agencies. Atkins and Gould both advanced under party-line votes in the committee on Thursday — each going 13-11. Committee Chairman Tim Scott, a South Carolina Republican, praised the nominees before the vote. "Paul Atkins, the former SEC commissioner, will promote capital formation and provide much-needed clarity for digital assets," Scott said. And of Gould, he said the nominee, once chief counsel at the OCC, will "put an end to the politically-motivated debanking" — a major point of complaint for the crypto industry. Senator Elizabeth Warren, the committee`s ranking Democrat, issued some last-minute criticisms of the nominees before rejecting all of them. "Mr. Atkins was dead wrong in the leadup to the worst financial crisis in a generation," she said of Atkins` previous tenure at the SEC in the period before the 2008 global financial crisis, and she added of Gould`s previous time at the OCC that he "weakened the rules and helped undermine" the banking system`s safety and soundness. The recent confirmation hearing for the nominees didn`t address crypto issues in significant depth, though both would be heavily involved in future regulation of the industry. Read More: Trump`s Pick to Run SEC Paul Atkins Promises New Crypto Stance, Gets Few Questions Crypto Potato