Circle’s IPO Comeback: After Surviving the Crypto Winter, Is Stablecoin Business Still Worth It?
After more than two years of silence, stablecoin issuer Circle is making another bid to go public, having recently filed an S-1 with the SEC (source). As the issuer of USDC, Circle has weathered the bear market and now emerges with renewed momentum—and profitability. But is the stablecoin business model truly sustainable?