Lots of chatter about the Circle IPO filing today

Here's some commentary below:

"Circle earned ~$1.7b revenue in 2024 and paid out $900M+ to Coinbase as a distribution partner"

Circle earned ~$1.7b revenue in 2024 and paid out $900M+ to @coinbase as a distribution partner

That ~$1B going to Coinbase likely comes with little to no cost/opex to serve. At 10x earnings = $10 B mkt cap and likely contributes ~25% of $COIN valuation

For perspective - https://t.co/2Et3yaSgas

James Ho

Lots of chatter about the Circle IPO filing today

Here's some commentary below:

"Circle earned ~$1.7b revenue in 2024 and paid out $900M+ to Coinbase as a distribution partner"

https://x.com/jamesjho_/status/1907187974594240647?s=46

Stay Curious // iixii // Head of Crypto at https://www.lazertechnologies.com/  // Prev: CoinDesk, Roc Nation // based @basedevo

product & marketing @teller 





























































hosting /kieran /usdc /loans /disclosure 🛸