Just yesterday, reports emerged that Circle hired investment banks JPMorgan Chase and Citi to help with its IPO, potentially valuing the company at $4 billion to $5 billion. CoinDesk reported in July that the company was valued at roughly $5 billion in private secondary markets.

Circle Internet Group Inc. filed publicly for a long-awaited initial public offering, with the stablecoin provider showing steadily increasing revenue.The company, led by Jeremy Allaire, reported net income of $156 million on revenue of $1.

Circle, the company behind the USDC stablecoin, has filed for a U.S. initial public offering, becoming the the latest tech firm that is aiming to test the market as tariff uncertainty and worries about the economy’s health weigh on investors.