Circle Crypto aims for a $5 billion IPO despite financial struggles, rising USDC supply, and competition. Circle, the issuer of the USDC stablecoin, is making a bold move toward public trading with its recently filed initial public offering (IPO).

Even though it's coming during a volatile period for the markets and economy, the cryptocurrency company's planned listing puts pressure on rivals and regulators.

Circle Internet Financial, the company behind stablecoin USD Coin (USDC), has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), seeking a valuation between $4 billion and $5 billion.

Circle’s new initial public offering (IPO) filing has shed light on its relationship with Coinbase, including the millions paid to the exchange for USDC stablecoin distribution. According to the filing,