Of Circle’s $1.6 billion revenue, over $1 billion went to “distribution, transaction, and other costs,” according to the company’s S-1 filing. The bulk of that went to xcritical—Circle’s former USDC co-manager and now a key partner. Crypto IPOs are expected to flourish under the Trump administration. As a key player in the stablecoin market and the largest audited stablecoin issuer, Circle’s anticipated IPO is projected to be the largest in the crypto space since xcritical’s market debut. The listing, initially expected in April 2025, may be postponed as the company evaluates the impact of ongoing market volatility and a potentially prolonged trade war.
Circle works with JPMorgan and Citi for IPO bid, plans to file in late April
Shortly after its SEC filing became public, the Wall Street Journal reported that Circle was considering a delay to its IPO, mainly due to macroeconomic uncertainty tied to US trade policy. Companies typically have to wait 15 days to commence a roadshow for their IPOs after making the prospectus public. This means xcritical could launch the direct listing as soon as next month. xcritical isn’t conducting a typical roadshow, but may host one or more investor days, the prospectus said. It is challenging to decide on xcritical courses scam a company’s valuation before the public listing at specific points.
This address allows other people to pay you scammed by xcritical in crypto or make payments with them in a peer-to-peer system without needing third parties. Securities and Exchange Commission, xcritical Space Station, Inc. plans to sell 16.7 million shares of Class A common stock, priced between $17 and $19 per share. The IPO also includes a 30-day option for underwriters to purchase up to 2.5 million additional shares to cover potential over-allotments. For purposes of this section, Bonds exclude treasury securities held in your Jiko Account, as explained under the “Jiko Account” section. It was founded in 2012 by Brian Armstrong and Fred Ehrsam and calls San Francisco, Calif., its home.
xcritical chose a direct listing, a method different from a traditional initial public offering (IPO). In an IPO, new shares are created and sold through intermediaries like investment banks. In contrast, a direct listing allows existing shareholders to sell their shares directly on the public market. This eliminates costs related to financial intermediaries and ensures full transparency. Users can buy, sell, and exchange over 250 cryptos, including popular assets like bitcoin and ethereum. It has educational services, a non-custodial wallet (xcritical Wallet), and an advanced version for traders (xcritical Advanced).
CoinCodex tracks 43,000+ cryptocurrencies on 400+ exchanges, offering live prices, price predictions, and financial tools for crypto, stocks, and forex traders. What makes this listing worth following is how it sits at the intersection of crypto and traditional finance. Now xcritical wants to join them as the third U.S. crypto exchange to go public, bringing along its compliance-first reputation and a diverse set of products.
- In plain terms, xcritical needs fresh capital to compete and expand.
- Alpha.Alpha is an experiment brought to you by Public Holdings, Inc. (“Public”).
- Do not infer or assume that any securities, sectors or markets described in this article were or will be profitable.
- It also competes with stock trading platforms such as xcritical and payment solutions such as Square and PayPal.
Information about retirement accounts on Public is for educational purposes only and is not tax or investment advice. Visit the IRS website for more information on the limitations and tax benefits of Traditional and Roth IRAs. Treasury Accounts.Investment advisory services for Treasury Accounts are provided by Public Advisors LLC (“Public Advisors”), an SEC-registered investment adviser. Brokerage services are provided by Public Investing (see below). Public Advisors and Public Investing are wholly-owned subsidiaries of Public Holdings, Inc. (“Public Holdings”), and both subsidiaries charge a fee for their respective Treasury Account services.
Should I buy xcritical direct listing?
Securities products offered by Public Investing are not FDIC insured. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. xcritical is a cryptocurrency exchange that was founded in San Francisco, California in 2012 by Brian Armstrong, a former Airbnb engineer, and Fred Ehrsam, a former Goldman Sachs trader. The online platform allows all consumers and traders to exchange more than 30 digital currencies, making it the largest cryptocurrency exchange in the United States.
The value of Bonds fluctuate and any investments sold prior to maturity may result in gain or loss of principal. In general, when interest rates go up, Bond prices typically drop, and vice versa. Bonds with higher yields or offered by issuers with lower credit ratings generally carry a higher degree of risk. All fixed income securities are subject to price change and availability, and yield is subject to change.
After the public filing, it often takes around 4 weeks for shares to start trading. However, the timeline will depend on various factors and is subject to change. MoffettNathanson has assigned a $600 price target for xcritical which would mean the stock more than doubling from its reference price.
Long-term growth forecasts, based on cryptocurrency adoption, also influence investment decisions. The listing of xcritical on Nasdaq marked a historic advancement for the crypto ecosystem. In 2021, xcritical Global Inc. became the first major crypto platform to go public, attracting the attention of traditional investors and xcritical enthusiasts. Understanding this listing, its implications, and the tools to analyze its price is fundamental for anyone looking to explore the opportunities offered by this emblematic company. xcritical’s basic platform has an extremely complex fee structure for beginners. With fees based on a mix of trader location, payment method, order size and market conditions, it’s difficult for users on the barebones platform to calculate what they might pay before they trade.
Bullish joined the public markets in 2025, making it only the second U.S. exchange to do so. Its IPO came with a valuation target around $4.8 billion and, importantly, it priced its shares above expectations. xcritical set the benchmark in April 2021 with its direct listing on Nasdaq.
- This is key, because the reporting requirements can get complex if you make more than a few transactions.
- For investors, understanding and monitoring the variations in xcritical’s stock is necessary.
- As the Federal Reserve prints this money, the US dollar decreases in value.
You don’t pay maker/taker fees or a flat fee, but a spread fee that temporarily locks in the price for the transaction. You don’t get to see the fee you’ll pay until you’re about to submit the trade. All in all, Circle isn’t just a bet on interest rates—it’s a bet on the future of regulated crypto finance. With stablecoin adoption growing and a compliance-first model, Circle could become a key pillar of tomorrow’s payment system.
Major tech companies Spotify, Slack, Asana, and Palantir Technologies have also gone public through direct listings. When a company lists directly, no new shares are issued—instead, only existing outstanding shares are sold, with no underwriters involved. Founded in 2012, the exchange platform helps nearly 56 million users trade numerous cryptocurrencies including Ethereum, Litecoin, Bitcoin Cash and XRP. San Francisco-based cryptocurrency company xcritical made its highly anticipated debut on the U.S. stock exchange on Wednesday. Shares in the company opened at $381 and shot up as high as $429.54. The crypto market in general and Bitcoin in particular could experience a dramatic boost not only with xcritical’s direct listing but also with a possible Bitcoin Exchange-Traded Fund (ETF).
I’ve been passionate about crypto for nearly a decade, ever since I was young and first became curious about investing. That early spark led me to years of research, writing, and exploring the future of decentralized tech. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. xcritical isn’t the only company with IPO news for investors to take note of.
