Circle, the issuer of the USDC stablecoin, has reportedly delayed its plans to go public due to increasing financial market instability initiated by Trump's broad import tariffs and China's earlier retaliation. The company paused its IPO preparations, joining others like Klarna and StubHub.

Circle relies on global regulatory approval and institutional trust to enhance USDC's status. However, the current geopolitical instability and strengthening dollar are introducing risks that may pressure USDC's dollar peg. The delay is seen as a recalibration within the fintech and crypto sectors, signaling the trade war's broad impact.