Circle IPO may be delayed, what is the valuation of "the first share of stablecoin"?

By Wenser (@wenser 2010)

At the end of March, according to Fortune, stablecoin issuer Circle has hired an investment bank to start IPO preparations, and plans to publicly submit a listing application to the SEC in late April; On April 1, Circle officially filed an S-1 prospectus with the SEC to list on the New York Stock Exchange under the symbol CRCL. Just when the market thought that this move might mean that there was no more suspense about "Trump's first crypto IPO after taking office", just a few days later, as Trump's tariff and trade war officially began, there was market news that Circle would postpone the IPO process. As a result, the suspense continues over who will end up in the crypto IPO after Trump came to power and aspire to establish a crypto-friendly government.

In this article, Odaily compares the current state of the stablecoin market, U.S. crypto regulatory trends, and the Circle valuation system with other potential crypto IPOs.

Suspense 1: Can Circle win the crown of "the first stablecoin concept stock"?

Let's start with the conclusion, Circle has a high probability of winning the crown of "the first stablecoin concept stock".

The reasons are as follows:

1. Major competitors have no intention of taking the "IPO route". Previously, after Circle submitted a prospectus for its IPO application, Paolo Ardoino, CEO of Tether, the issuer behind USDT, posted that Tether does not need to be listed. (Odaily Note: It is worth mentioning that Paolo's tweet is accompanied by a photo of himself and the Wall Street Bronze Bull, which is quite a bit of "I don't need to talk to Wall Street investment banks about going public, but Wall Street investment banks need me" Strong meaning)

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