{"id":2642,"date":"2025-11-13T19:12:29","date_gmt":"2025-11-13T11:12:29","guid":{"rendered":"http:\/\/www.jineng168.com\/?p=2642"},"modified":"2025-11-13T19:12:29","modified_gmt":"2025-11-13T11:12:29","slug":"%e7%a8%b3%e5%ae%9a%e5%b8%81%e6%97%b6%e4%bb%a3%ef%bc%9acircle-ipo-%e8%83%8c%e5%90%8e%e7%9a%84%e9%87%91%e8%9e%8d%e6%9c%aa%e6%9d%a5%e5%9b%be%e6%99%af","status":"publish","type":"post","link":"http:\/\/www.jineng168.com\/?p=2642","title":{"rendered":"\u7a33\u5b9a\u5e01\u65f6\u4ee3\uff1aCircle IPO \u80cc\u540e\u7684\u91d1\u878d\u672a\u6765\u56fe\u666f"},"content":{"rendered":"

\u7a33\u5b9a\u5e01\u65f6\u4ee3\uff1aCircle IPO \u80cc\u540e\u7684\u91d1\u878d\u672a\u6765\u56fe\u666f<\/h1>\n
\n
\n
\n
<\/div>\n<\/div>\n<\/figure>\n

Circle \u4e8e 2025 \u5e74 6 \u6708 5 \u65e5\u5728\u7ebd\u4ea4\u6240\u6b63\u5f0f\u8fdb\u884cIPO\uff0c\u516c\u5f00\u53d1\u884c34 M\u80a1A\u7c7b\u666e\u901a\u80a1\uff0c\u4ee5\u6bcf\u80a1 31 \u7f8e\u5143\u4ef7\u683c\u4e0a\u5e02\uff0c\u9996\u65e5\u6536\u76d8\u6da8\u81f3 83.23 \u7f8e\u5143\uff0c\u6da8\u5e45\u7ea6 168%\uff0c\u5e02\u503c\u4e00\u5ea6\u8fbe\u5230 180\u2013210 \u4ebf\u7f8e\u5143 \u3002\u4e09\u5927\u6295\u884c \u2014 \u2014 \u6469\u6839\u5927\u901a\u3001\u82b1\u65d7\u3001\u9ad8\u76db\u4f5c\u4e3a\u4e3b\u627f\u9500\u5546\uff0c\u5e76\u5f00\u653e30\u5929\u884c\u6743\u7a97\u53e3\uff08greenshoe\uff09\uff0c\u7528\u4e8e\u7a33\u5b9a\u80a1\u4ef7\u4e0e\u989d\u5916\u914d\u552e \u3002<\/p>\n

\n
\n
<\/div>\n<\/div>\n<\/figure>\n

\u56de\u987e\u5386\u53f2\uff0cCircle \u66fe\u4e8e 2022 \u5e74\u5c1d\u8bd5\u4ee5 SPAC \u65b9\u5f0f\u4e0a\u5e02\uff0c\u9884\u8ba1\u4f30\u503c\u7ea6 90 \u4ebf\u7f8e\u5143\uff0c\u4f46\u56e0\u76d1\u7ba1\u4e0e\u5e02\u573a\u73af\u5883\u4e0d\u5229\u6700\u7ec8\u4f5c\u7f62\u3002\u8fd9\u4e00\u6b21\u7684\u6210\u529f\u767b\u9646\uff0c\u65e2\u53cd\u6620\u5176\u5ba1\u614e\u5b9a\u4ef7\uff0c\u4e5f\u4f53\u73b0\u5e02\u573a\u6210\u719f\u5224\u65ad\u3002<\/p>\n

\u4e00\u3001\u8fd0\u8425\u6a21\u5f0f\u4e0e\u76c8\u5229\u7ed3\u6784\u5206\u6790<\/h3>\n

USDC \u94f8\u9020\u4e0e\u50a8\u5907\u6536\u76ca\u673a\u5236<\/strong><\/h2>\n
    \n
  • USDC \u7531\u73b0\u91d1\u548c\u77ed\u671f\u7f8e\u56fd\u56fd\u503a\u652f\u6301\uff0c\u622a\u81f3 2025 \u5e74 6 \u6708 5 \u65e5\uff0cUSDC \u6d41\u901a\u91cf\u7ea6 610 \u4ebf\u7f8e\u5143\uff0c\u50a8\u5907\u91cf\u5339\u914d\u30022025 Q1 \u8425\u6536\u4e3a 5.786 \u4ebf\u7f8e\u5143\uff0c\u51c0\u5229\u6da6\u4e3a 6,320 \u4e07\u7f8e\u5143\uff0c\u8c03\u6574\u540e EBITDA \u8fbe\u5230 1.224 \u4ebf\u7f8e\u5143 \u3002<\/li>\n<\/ul>\n

    \u5229\u7387\u9ad8\u5ea6\u654f\u611f<\/strong><\/h2>\n

    Circle 2024 \u5e74\u8425\u6536\u7ea6 16.8 \u4ebf\u7f8e\u5143\uff0c99% \u6765\u81ea USDC \u50a8\u5907\u5229\u606f\u6536\u5165\u3002\u636e MarketWatch \u62a5\u9053\uff0c\u201c2024 \u5e74\u6709 98% \u6536\u5165\u6765\u6e90\u4e8e\u77ed\u671f\u56fd\u503a\u6536\u76ca\uff0cFed \u6bcf\u4e0b\u8c03 25 \u4e2a\u57fa\u70b9\uff0c\u5c06\u4f7f EBITDA \u51cf\u5c11 1 \u4ebf\u7f8e\u5143\u201d\u3002\u82e5\u8be5\u7ed3\u6784\u4e0d\u88ab\u591a\u5143\u5316\u5bf9\u51b2\uff0c\u5219\u5176\u76c8\u5229\u5c06\u76f4\u63a5\u53d7\u5229\u7387\u653f\u7b56\u5de6\u53f3\u3002<\/p>\n

    \u4e8c\u3001\u5e02\u573a\u5730\u4f4d\u4e0e\u589e\u957f\u524d\u666f<\/h3>\n

    \u5168\u7403\u5e02\u573a\u4efd\u989d\u9886\u8dd1<\/strong>\u00a0USDC<\/h2>\n
      \n
    • \u5728\u5168\u7403\u7a33\u5b9a\u5e01\u5e02\u573a\u5360\u8fd1 29%\uff0c\u4ec5\u6b21\u4e8e Tether\uff1b\u4f46\u5728\u94fe\u4e0a\u4ea4\u6613\u91cf\u4e2d\uff0cUSDC \u5360\u6bd4\u8d85\u8fc7 58%\uff0c\u6210\u4e3a\u4ea4\u6613\u9996\u9009\u3002 USDC \u6d41\u901a\u91cf\u4ece 320 \u4ebf\uff082024 \u5e74\u521d\uff09\u589e\u957f\u81f3 600 \u4ebf\u7f8e\u5143\uff1b\u81ea 2018 \u5e74\u4ee5\u6765\u7d2f\u8ba1\u94fe\u4e0a\u4ea4\u6613\u91cf\u8d85 25 \u4e07\u4ebf\u7f8e\u5143\u3002 2025 Q1 \u5728\u94fe\u4e0a\u4ea4\u6613\u989d\u8fbe\u5230 5.9 \u4e07\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f\u7ea6 500%\uff0c\u603b\u91cf\u7a81\u7834 25 \u4e07\u4ebf\u7f8e\u5143\u3002<\/li>\n<\/ul>\n

      \u65b0\u4ea7\u54c1\u4e0e\u751f\u6001\u6269\u5c55<\/strong><\/h2>\n
        \n
      • \u63a8\u51fa\u6b27\u5143\u7248\u7a33\u5b9a\u5e01 EURC\uff0c\u79ef\u6781\u5e03\u5c40\u56fd\u9645\u5408\u4f5c\uff0c\u5e76\u5df2\u542f\u52a8\u540d\u4e3a \u201cPayments Network\u201d \u7684\u8de8\u5883\u652f\u4ed8\u7f51\u7edc\uff0c\u76ee\u6807\u4e0e\u4f20\u7edf\u7cfb\u7edf\u5982 Visa\u3001SWIFT \u7ade\u4e89\u3002<\/li>\n<\/ul>\n

        \u7f51\u7edc\u6548\u5e94\u6253\u9020\u58c1\u5792<\/strong>\uff1a<\/h2>\n
          \n
        • S\u20111 \u6587\u4ef6\u5f3a\u8c03 Circle \u4f9d\u6258\u5f00\u53d1\u8005\u5de5\u5177\u3001\u53bb\u4e2d\u5fc3\u94b1\u5305\u3001\u4e0e Grab\u3001Mercado Libre\u3001Nubank\u3001SBI \u548c Binance \u7b49\u6218\u7565\u5408\u4f5c\u6784\u5efa\u751f\u6001\u95ed\u73af\u3002<\/li>\n<\/ul>\n

          \u4e1a\u52a1\u591a\u5143\u5316\u521d\u663e\u6210\u6548<\/strong>\uff1a<\/h2>\n
            \n
          • \u5b9e\u73b0\u975e\u50a8\u5907\u6536\u5165\u589e\u957f\u81f3 3.6%\uff0c\u800c\u4ed8\u6b3e\u3001\u8de8\u5883\u652f\u4ed8\u3001\u5f00\u53d1\u8005\u670d\u52a1\u6210\u4e3a\u65b0\u7684\u6536\u5165\u589e\u957f\u70b9\u3002<\/li>\n<\/ul>\n

            \u4e09\u3001\u6838\u5fc3\u98ce\u9669\u70b9\u5206\u6790<\/h3>\n
            \n
            \n
            <\/div>\n<\/div>\n<\/figure>\n
              \n
            1. \u5229\u7387\u56de\u843d\u7684\u76c8\u5229\u98ce\u9669<\/strong>
              Q1 \u5df2\u5f3a\u8c03\u4f9d\u8d56\u5229\u5dee\u6536\u76ca\uff0c\u82e5\u7f8e\u8054\u50a8\u4e0b\u534a\u5e74\u964d\u606f\uff0c\u6bcf\u4e0b\u8c03 25bp EBITDA \u5373\u51cf\u5c11\u7ea6 1 \u4ebf\u7f8e\u5143\uff0c\u9664\u975e USDC \u89c4\u6a21\u6301\u7eed\u7206\u53d1\uff0c\u5426\u5219\u76c8\u5229\u6050\u53d7\u538b\u3002<\/li>\n
            2. \u76d1\u7ba1\u653f\u7b56\u7684\u4e0d\u786e\u5b9a\u6027<\/strong>
              \u56fd\u4f1a\u6b63\u5728\u63a8\u8fdb GENIUS Act\uff0c\u4e3a\u7a33\u5b9a\u5e01\u8bbe\u7acb\u660e\u786e\u7ba1\u7406\u7cfb\u7edf\uff0c\u77ed\u671f\u53ef\u63d0\u4f9b\u652f\u6491\uff0c\u4f46\u82e5\u672a\u6765\u8d8b\u4e25\u6216\u4e0e\u592e\u884c\u6570\u5b57\u8d27\u5e01\u7ade\u4e89\uff0c\u5c06\u538b\u7f29\u5e02\u573a\u7a7a\u95f4\u3002<\/li>\n
            3. \u5206\u9500\u6210\u672c\u9ad8\u4f01<\/strong>\uff1a
              Circle \u4e0e Coinbase \u7684\u5206\u6210\u534f\u8bae\u9ad8\u8fbe\u5206\u914d 50\u201360% \u50a8\u5907\u6536\u5165\uff0c2024 \u5e74\u50a8\u5907\u6536\u5165\u7ea6 17 \u4ebf\u4e2d\uff0c\u5206\u914d\u7ed9 Coinbase \u8fd1 9.4 \u4ebf\u7f8e\u5143 \u3002<\/li>\n
            4. \u4f9d\u8d56\u5206\u9500\u4f19\u4f34\u98ce\u9669<\/strong>
              \u4e0e Coinbase \u66fe\u6709\u8054\u5408\u53d1\u884c\u5173\u7cfb\uff0c\u5982\u5206\u9500\u65b9\u5f0f\u8c03\u6574\u6216\u91cd\u8c08\u534f\u8bae\uff0c\u5c06\u524a\u5f31 USDC \u63a8\u5e7f\u6548\u7387\uff0c\u5f71\u54cd\u6536\u5165\u7ed3\u6784\u3002<\/li>\n
            5. \u7ade\u4e89\u52a0\u5267\u4e0e\u751f\u6001\u590d\u5236\u98ce\u9669<\/strong>
              \u6570\u5b57\u5316\u91d1\u878d\u8f6c\u578b\u4e2d\uff0c\u4e2d\u5c0f\u578b\u94f6\u884c\u3001PayPal\u3001Ripple \u5236\u9020\u5546\u53ca Tether \u5747\u53ef\u80fd\u53d1\u529b\u7a33\u5b9a\u5e01\u6216\u76f8\u5173\u652f\u4ed8\u7f51\u7edc\uff0c\u5bf9 USDC \u6784\u6210\u6324\u538b \u3002<\/li>\n<\/ol>\n

              \u56db\u3001\u4f30\u503c\u4e0e\u6295\u8d44\u8005\u884c\u4e3a\u6d1e\u89c1<\/h3>\n
                \n
              • \u6ea2\u4ef7\u70ed\u6f6e\u4e0e\u4f30\u503c\u6ce1\u6cab<\/strong>
                IPO \u52df\u8d44 11 \u4ebf\u7f8e\u5143\uff0c\u5e02\u503c 69 \u4ebf\u7f8e\u5143\uff08\u672a\u8ba1\u8d85\u989d\u914d\u552e\uff09\uff0c\u4e0a\u5e02\u540e\u5e02\u503c\u98d9\u5347\u81f3 180 \u4ebf\u5143\u7ea7\u522b \uff0c\u4f46\u6839\u636e 2024 \u5e74\u51c0\u5229\u6da6 1.57 \u4ebf\u7f8e\u5143\uff0cPE \u8fbe\u5230 106 \u500d\uff0c\u9ad8\u4f30\u9884\u671f\u589e\u52a0\u3002<\/li>\n
              • \u673a\u6784\u8d44\u91d1\u4e0eETF\u6d3b\u529b<\/strong>
                ARK Invest\u3001Cathie Wood \u7b49\u673a\u6784\u79ef\u6781\u5e03\u5c40\uff0cETF \u53d1\u884c\u8fc5\u901f\u8ddf\u8fdb\uff0c\u53cd\u663e\u793a\u5e02\u573a\u5bf9\u7a33\u5b9a\u5e01\u53ca\u5176\u80cc\u540e\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684\u770b\u597d \u3002<\/li>\n
              • IPO\u5373\u7206\u6b3e<\/strong>\uff1a
                CRCL \u4ee5\u6bcf\u80a1 31 \u7f8e\u5143\u53d1\u884c\uff0c\u4f46\u9996\u65e5\u8dc3\u81f3 107.7 \u7f8e\u5143\uff0c\u6536\u6da8 168%\uff08\u540e\u7eed\u518d\u6da8\u81f3\u7ea6 100 \u7f8e\u5143\uff09\uff0c\u4f53\u73b0\u6295\u673a\u70ed\u60c5\u4e0e\u673a\u6784\u8d44\u91d1\u9f50\u6d8c\u3002<\/li>\n<\/ul>\n

                \u4e94\u3001\u672a\u6765\u53d1\u5c55\u4e0e\u5173\u952e\u89c2\u5bdf\u6307\u6807<\/h3>\n

                \u5173\u952e\u89c2\u5bdf\u4fe1\u53f7<\/strong>\uff1a<\/h2>\n
                  \n
                • \u5173\u6ce8 USDC \u6d41\u901a\u91cf\u589e\u957f\u7387\u3001\u50a8\u5907\u6784\u6210\uff08T\u2011bill vs \u73b0\u91d1\/\u56de\u8d2d\uff09\u3001\u5229\u7387\u8d70\u52bf\u3001\u5206\u9500\u7ed3\u6784\u53d8\u5316\u3002<\/li>\n
                • \u50a8\u5907\u914d\u7f6e\u53d8\u5316\u8d8b\u52bf\uff1a\u56fd\u503a\u3001\u73b0\u91d1\u3001\u56de\u8d2d\u6bd4\u4f8b\u3002<\/li>\n
                • \u7ed3\u5408 Fed 2025 \u4e0b\u534a\u5e74\u8d27\u5e01\u653f\u7b56\u58f0\u660e\u3001\u901a\u80c0\u4e0e\u5c31\u4e1a\u6570\u636e\uff0c\u5224\u65ad\u5229\u5dee\u6536\u76ca\u6a21\u578b\u80fd\u5426\u7ee7\u7eed\u652f\u6491\u4f30\u503c\u3002<\/li>\n
                • GENIUS Act \u6216\u5176\u4ed6\u7a33\u5b9a\u5e01\u76f8\u5173\u7acb\u6cd5\u63a8\u8fdb\u901f\u5ea6\u3002<\/li>\n<\/ul>\n

                  \u6210\u957f\u8def\u5f84\u4e0e\u8d5b\u9053\u5e03\u5c40<\/strong>\uff1a<\/h2>\n
                    \n
                  • \u8de8\u5883\u652f\u4ed8\u7f51\u7edc\u4e0e\u94f6\u884c\u94b1\u5305\u6574\u5408\u7684\u5546\u4e1a\u843d\u5730\u60c5\u51b5\uff1b<\/li>\n
                  • EURC \u7684\u6b27\u6d32\u5e02\u573a\u63a5\u53d7\u5ea6\uff1b<\/li>\n
                  • \u7a33\u5b9a\u5e01\u80cc\u540e\u57fa\u7840\u8bbe\u65bd\uff08\u5982 USYC\uff09\u662f\u5426\u80fd\u6210\u4e3a\u771f\u6b63\u7684\u6570\u5b57\u8d44\u4ea7\u751f\u6001\u5de5\u5177\u3002<\/li>\n<\/ul>\n

                    Circle IPO \u4e0d\u4ec5\u662f\u4e00\u573a\u91d1\u878d\u79d1\u6280\u4e0e\u52a0\u5bc6\u7ecf\u6d4e\u7684\u878d\u5408\uff0c\u66f4\u662f\u7a33\u5b9a\u5e01\u8fdb\u5165 \u201c\u4e3b\u6d41\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u201d\u65f6\u4ee3\u7684\u91cd\u8981\u5b9e\u9a8c\u3002<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

                    \u7a33\u5b9a\u5e01\u65f6\u4ee3\uff1aCircle IPO \u80cc\u540e\u7684\u91d1\u878d\u672a\u6765\u56fe\u666f Circle \u4e8e 2025 \u5e74 6 \u6708 5 \u65e5\u5728\u7ebd\u4ea4\u6240\u6b63 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2642","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/posts\/2642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2642"}],"version-history":[{"count":1,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/posts\/2642\/revisions"}],"predecessor-version":[{"id":5194,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=\/wp\/v2\/posts\/2642\/revisions\/5194"}],"wp:attachment":[{"href":"http:\/\/www.jineng168.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2642"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.jineng168.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}