Despite the recent SEC action against Coinbase, crypto payments technology company Circle, along with others in the industry, remains determined to pursue its goal of going public. However, industry executives acknowledge that the current environment poses challenges for most companies considering a public listing.
In 2021, Circle announced its intention to become a public company through a merger with a special purpose acquisition company (SPAC).
However, CEO Jeremy Allaire mentioned in a December 2022 tweet that his company had not completed SEC qualification in time.
Earlier this year, Circle reiterated that going public is still a fundamental part of its strategy, which was confirmed by a company spokesperson and a recent job posting. While no specific deadline has been set, Circle is actively taking steps to progress toward becoming a public company as soon as feasible.
A recent job listing for corporate counsel at Circle also indicated the company’s intentions. The role would involve assisting with the potential SEC process related to going public and supporting the development of policies, practices, and processes for the public company.
Circle’s determination to go public remains intact, despite the SEC’s lawsuit against Coinbase. Coinbase has been a public company for over two years, having completed its initial public offering in April 2021 after the SEC approved its registration on Form S-1. However, the SEC has accused Coinbase of operating as an unregistered exchange, allegations that Coinbase has denied.
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