Circle Aims for $7.2B Valuation with USDC-Focused Secondary Share Offering

Circle, the issuer of USD Coin (USDC), is seeking to raise up to $896 million in a secondary share offering, potentially valuing the company at $7.2 billion. This follows a successful initial public offering that raised $624 million, lifting Circle’s valuation to $6.7 billion—surpassing tech firms like Lyft.

Investor appetite reflects growing Optimism for crypto under the Trump administration, particularly for stablecoins like USDC. Regulatory clarity from the proposed STABLE Act could further bolster the sector. USDC’s market cap has surged 40% since January 2025 to $60.93 billion, cementing its position as the largest U.S.-issued stablecoin.

Circle’s revenue model hinges on interest from U.S. Treasuries backing its reserves, generating $557.9 million in Q1 2025. The latest funding round underscores institutional confidence in crypto’s infrastructure plays.