Circle had previously announced plans to go public in July 2021 with a valuation of $4.5 billion. However, the company terminated its agreement with special-purpose acquisition company Concord Acquisition Corp., effectively stepping back from its plan to go public. The valuation was later doubled when the firms amended their terms in February. The termination of the IPO plans may have been influenced by the SEC's proposal of specialized disclosure requirements and increased regulatory scrutiny 

 Circle had previously submitted plans for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC) in January. However, the company terminated its agreement with special-purpose acquisition company Concord Acquisition Corp., effectively stepping back from its plan to go public