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Circle paid $210m to acquire Coinbase’s stake, IPO filing reveals
Circle disclosed in its IPO filing that it bought Coinbase’s 50% stake in Centre Consortium for US$210 million in shares in 2023, making it the sole issuer of the USDC stablecoin.
The transaction involved transferring about 8.4 million common shares of Circle, valued at approximately $209.9 million.
Following the acquisition, Centre Consortium became an indirect subsidiary of Circle before being dissolved in December 2023. Its net assets were transferred to another wholly owned Circle subsidiary.
Coinbase had also acquired an equity stake in Circle in August 2023 as part of a restructuring agreement, though financial details were not disclosed at the time.
Recent Circle developments
| Timeline |
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21-Jan-2025 💰 Circle CEO expects Trump’s executive orders to boost crypto
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14-Nov-2024 📱 Circles Global said to sell its digital telco unit
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12-Apr-2024 📱 Circles appoints new CTO, continuing leadership shakeup
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27-Nov-2023 🎥 Circles’ secret sauce for effective innovation
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08-Jul-2023 📱 Circles Life denies management reshuffle, layoffs (update)
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