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Stablecoin issuer Circle Internet Group is expected to go public this week. Share pricing is expected to surface on Wednesday for a possible listing on Thursday, though the company has not confirmed the timeline. The companys paperwork with the Securities and Exchange Commission (SEC), filed Monday, shows that Circle plans to sell 32 million shares and is aiming at a price target of $27 to $28 per share. That would give the company a valuation of more than $7 billion, an increase from earlier estimates. In a previous SEC filing, which surfaced last week, Circle said it was planning to sell 24 million shares priced between $24 and $26. In all, the company is expected to raise around $880 million with its updated numbers. Shares are expected to trade on the New York Stock Exchange (NYSE) under the symbol CRCL. The offering is being led by J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC Circle declined to comment. Headquartered in New York, Circle has grown significantly over the last five years, reporting $1.7 billion in revenue and reserve income in 2024, compared to just $15.4 million in revenue in 2020. It had net income of $155.7 million in 2024, verses net income of $267.6 million in 2023, and a net loss of $768.8 million in 2022. Why is Circles IPO a big deal? As Fast Company previously reported, Circles IPO has been a long time coming, and has generated a lot of excitement among potential investors. That’s in large part due to the surge in interest around stablecoinswhich are a form of cryptocurrency that have their values pegged to real assets. For instance, Circle’s flagship USDC, one of the largest cryptocurrencies on the market, is pegged to the U.S. dollar, which means one USDC is worth $1. Circle also issues EURC, which is pegged to the value of the euro. Meanwhile, stablecoin legislation is currently working its way through Congress, which could be adding to the anticipation around Circle’s imminent market debut. The Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, could soon pass the Senate, and with a crypto-friendly administration in office, it could become law. That would set up a regulatory framework for stablecoins, effectively and further ingraining them into the financial system. With that as a background, and a surge in interest this year in the crypto space, many investors have had Circles IPO date circled on their calendars.
Category:
E-Commerce
Welcome to Pressing Questions, Fast Companys workplace advice column. Every week, deputy editor Kathleen Davis, host of The New Way We Work podcast, will answer your biggest and most pressing workplace questions. Q: Is it okay to lie (a little) on your résumé? A: I would hope that the answer to this question is obvious, but perhaps not. Lying in some form, whether its inflating your job title or experience, exaggerating your skills, or fudging employment or graduation dates is way more common than you might think. In fact, a 2023 ResumeLab survey found that 70% of job applicants have lied on their résumés.For the record let me be clear, lying on your résuméno matter how big or small the lie is or what its aboutis never, ever, ever a good idea. Like ever. Just because everyone else is doing it doesnt mean you should. The risk just isnt worth it. Very few things arent discoverable from a quick search and in most industries professional networks can be small and paths are bound to cross. For example if you lie about your employment dates or role in a certain company, your potential employer can easily find out the truth and, no matter how impressive you are, you have broken their trust and ruined any future employment chances with that company.Even if your lies arent discovered during the hiring process, they can haunt you later on. Did you list skills that you dont really have? Did you say that you know a software system or tool that you arent really that familiar with? Those mistruths will come back to bite you as soon as youre on the job. All lies come to light eventually and even if they dont, youll have to remember them and stay on top of the cover-up for your entire tenure. But really, lying isnt necessary. Here are a few legitimate ways to redo your résumé in honest ways that will smooth over the things you might be tempted to lie about. Explain the gaps in your career history I gave this advice when addressing if your résumé needs to be one page: Hardly anyone has a linear career path and you arent fooling anyone by glossing over a year or more. If you freelanced, cared for family, or volunteered during times you weren’t traditionally employed, that all counts. In other words, rather than changing or omitting dates, address your career gaps either on your résumé or in your cover letter and frame them as strengths. Show off your accomplishments Instead of inflating your past job titles, talk up what youve done, the impact youve made, and who youve worked with. This is something Fast Company contributor and résumé expert Donna Svei calls affiliative branding. Heres the example she gives for how it works: An early-career client I once worked with wanted a specific job but couldnt land an interview. We analyzed the posting and saw that the job involved working with well-known artists. My client had that impressive experience but hadnt mentioned it in their résumé. We wrote a bullet that named a few of the top artists they had worked for (affiliative branding) and described my clients wins. They got the job three weeks later. Cut the irrelevant information and make whats there is persuasive I got into this in my advice on what to cut from your résumé. Sometimes in the quest to sound impressive, candidates clutter up their résumés with a bunch of unneeded hyperbole that isnt an honest representation of their skills or experience. Trim all of that junk and replace it with facts that are presented in a persuasive way. Svei recommends checking that those facts are presented in a positive light. When a fact is described negatively, I ask myself, ‘can I reframe this as a positive?’ It might be as simple as changing ‘reduced turnover to 10%,’ to ‘increased team retention to 90%,’ she says. Here’s more about lying on résumés: How to spot a lie on a candidates résumé 5 ways to make your résumé more impressive without lying 400 hiring managers reveal when its okay to lie on your résumé
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E-Commerce
Job openings saw an unexpected rise for the month of April. According to data from the Bureau of Labor Statistics, available jobs rose by 191,000 from the previous month to nearly 7.4 million. The increase was higher than the 7.1 million jobs FactSet economists had anticipated for the time period. The percentage of unemployed workers dropped from 1.03% to 1%, and hiring rose by 169,000 to 5.6 million. Federal job openings are up Somewhat surprisingly, given the Department of Government Efficiencys mass layoffs, federal job openings also rose. In March, there were 121,000 federal jobs open. In April, that number was up to 134,000. Federal layoffs also fell to 4,000 from 8,000 in March. That was down from a staggering 19,000 in February. While DOGE cut at least 280,000 jobs during President Trump’s first several months in office, according to recent estimates from Yahoo Finance, thousands more likely lost jobs indirectly due to cuts to federal funding. The Trump administration has cut billions in funding to national parks, disease research, national security, and more. Aprils uptick in federal job openings could be at least partially due to the fact that several federal departments scrambled to hire employees back after conducting mass layoffs. An uncertain moment for workers In spite of an increase in job openings more generally, layoffs also rose, jumping to 1.79 millionan increase of 196,000. And the number of people leaving their jobs by choice, a good predictor of worker confidence, fell by 150,000 to 3.2 million, showing workers may be becoming weary about their ability to find new employment. Carl Weinberg, chief economist at High Frequency Economics, told Reuters that the latest report is a sign that companies are retaining employees while awaiting the impact of new Trump-era policies. Once companies are more certain that bad times are coming, they will start to shed workers.” Weinberg continued, However, the economy is still near full employment. We suspect companies are still hoarding workers until they are very, very sure about an economic downturn.
Category:
E-Commerce
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