📉 Bloomberg reports that Circle may face challenges proceeding with an initial public offering (IPO) until stablecoin USDC's market share stabilizes. USDC's market share is declining, with its market capitalization falling below $24 billion, while Tether's USDT has reached over $86 billion. Circle's reliability has decreased since the Silicon Valley Bank bankruptcy. The report suggests that USDC's market cap struggles due to the absence of redemption fees, unlike Tether, leading to difficulties in market share growth. Circle is reportedly considering an IPO next year. #CircleIPO #StablecoinMarket 📊💸