Total Assets$Circle(CRCL.US)14.6% of Coinbase's revenue comes from USDC-related earnings. Based on Coinbase's current market capitalization of approximately $65 billion, Circle's valuation should be at least $10 billion. In fact, Circle itself has this intention. According to previous rumors, Circle's indicative offer during negotiations with Coinbase and Ripple was $9-11 billion, but both parties clearly rejected it.
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