上一次失败后，互联网财务通过IPO计划向前发展

Circle Internet Financial是第二大Stablecoin的发行人USDC的发行人，正在通过聘请JPMorgan Chase和Citi作为承销商来推进其长期计划的首次公开募股（IPO）。

Circle Internet Financial, the issuer of the second largest stablecoin, USDC, is advancing its long-planned initial public offering (IPO) by hiring JPMorgan Chase and Citi as underwriters, according to a recent report by Fortune.

Fortune最近的一份《财富》报道，Circle Internet Financial是第二大Stablecoin USDC的发行人，它通过聘请JPMorgan Chase和Citi作为承销商来推进其长期计划的首次公开募股（IPO）。

The fintech company is expected to file its offering paperwork by the end of April and could be valued at $4 billion to $5 billion, the report notes. The timing of the IPO depends on several factors, but companies that file for an IPO typically see their shares begin trading about four weeks later. However, some firms may remain in registration for months before launching their offerings.

报告指出，这家金融科技公司有望在4月底之前提交其文书工作，并可能价值40亿美元至50亿美元。 IPO的时机取决于几个因素，但是提交IPO的公司通常会在大约四个星期后开始交易股票。但是，在推出产品之前，一些公司可能会保留数月的注册。

This would mark Circle’s second attempt at going public. Back in 2021, the company announced plans to merge with a special purpose acquisition company (SPAC) backed by an investment firm. However, regulatory complications arose when the U.S. Securities and Exchange Commission (SEC) did not approve the proposed merger, which was later extended several times.

这将标记Circle的第二次公开尝试。早在2021年，该公司宣布了与一家投资公司支持的特殊目的采购公司（SPAC）合并的计划。但是，当美国证券交易委员会（SEC）未批准拟议合并时，监管并发症就会产生，该合并后来延长了几次。

Circle eventually abandoned the SPAC plans at the end of 2022 following the collapse of FTX and a broader crypto market downturn. In 2024, the stablecoin issuer filed confidentially with the SEC for a traditional IPO, which is now reportedly nearing public disclosure.

FTX崩溃和更广泛的加密货币市场经济衰退后，Circle最终在2022年底放弃了SPAC计划。 2024年，Stablecoin发行人向SEC秘密提交了传统的IPO，据报道，该IPO现在正在接近公开披露。

The impending public filing will provide a deeper look into Circle’s financial health for the first time, as well as reveal the company’s planned ticker symbol and pave the way for a public listing of its shares.

即将公开的申请将首次更深入地了解Circle的财务状况，并揭示公司计划的股票符号，并为其股份公开上市铺平道路。

If successful, Circle’s IPO would be the largest cryptocurrency-related IPO since Coinbase went public in 2021 via a direct listing, with JPMorgan and Citi also serving as financial advisors for Coinbase.

如果成功的话，Circle的IPO将是与加密货币相关的最大IPO，因为Coinbase于2021年通过直接上市于2021年上市，JPMorgan和Citi也担任Coinbase的财务顾问。

The report also mentions that Circle has undergone several transformations throughout the years. The company initially started with various business lines focused on payments and crypto trading around 2018, gradually shifting its attention to stablecoins.

该报告还提到，这些年来，Circle经历了多次转变。该公司最初始于各种业务线，专注于付款和加密货币交易，在2018年左右进行了交易，逐渐将注意力转移到了稳定的商业上。

Its flagship product, the USD Coin (USDC) stablecoin, was initially envisioned as a consortium among financial firms through an organization called Centre, though it ultimately became mainly tied to Coinbase. In 2023, Centre was dissolved and both companies restructured their partnership to manage USDC, allowing Coinbase to continue receiving a significant share of the stablecoin’s revenue.

它的旗舰产品，美元硬币（USDC）Stablecoin最初通过一个名为Center的组织在金融公司中作为财团，尽管最终与Coinbase主要息息相关。 2023年，中心解散了，两家公司都重组了他们的合作伙伴关系以管理USDC，从而使Coinbase能够继续获得Stablecoin收入的很大一部分。

USDC rose to prominence during the crypto boom of 2021, with its market capitalization soaring from less than $1 billion in 2020 to over $50 billion in 2022, benefitting from the interest in the dollar-backed assets supporting USDC, including U.S. Treasuries.

在2021年的加密货币繁荣期间，USDC升至著名，其市值从2020年的10亿美元飙升至2022年的500亿美元，受益于支持USDC的美元资产的兴趣，包括美国国债。

However, the company faced notable challenges, particularly in March 2023 when it disclosed that $3.3 billion was frozen at Silicon Valley Bank, causing USDC to deviate briefly from its $1 peg on secondary trading platforms.

但是，该公司面临着杰出的挑战，尤其是在2023年3月，当时透露33亿美元在硅谷银行冻结了，这使USDC短暂地偏离了其二级交易平台上的$ 1 PEG。

By the end of 2023, USDC’s market capitalization dropped to under $25 billion but has since rebounded to around $60 billion. Tether on the other hand, issuer of the market’s largest stablecoin, USDT, boasts a market capitalization of $143 billion according to CoinmarketCap data.

到2023年底，USDC的市值下降到250亿美元，但此后已反弹至600亿美元。另一方面，根据CoinMarketCap数据，该市场最大的Stablecoin的发行人拥有1430亿美元的市值。

The advancement of stablecoin legislation in Congress could also serve as a bullish indicator for Circle, with the Senate Banking Committee recently moving forward with a bill and the House expected to vote on its version soon.

国会稳定立法的晋升也可以作为圈子的看涨指标，参议院银行委员会最近提出了一项法案，众议院预计将很快对其版本进行投票。

The now pro-crypto President, Donald Trump, has also expressed a desire to sign stablecoin legislation by August of this year, signaling potential regulatory support for the industry.

现任亲克赖特（Crypto）总统唐纳德·特朗普（Donald Trump）也表示希望在今年8月之前签署Stablecoin立法，这表明对该行业的潜在监管支持。