Two weeks ago, Joe Lubin, cofounder of Ethereum and founder and CEO of Consensys, announced his decision to chair SharpLink Gaming's board and lead their $425 million Ethereum treasury strategy.
This adds a new page in the efforts to revive the second largest cryptocurrency, which has remained stuck below $3,000 for over four months.
Circle went public at $31 per share and immediately sent traditional finance into a frenzy.
The stock hit $133 within days, institutional giants threw hundreds of millions at it, and suddenly everyone's talking about stablecoins like they discovered fire.
It's the moment digital dollars became undeniably mainstream.
Wall Street is currently experiencing what psychologists call "cognitive dissonance" - the uncomfortable feeling when a crypto company behaves like a normal business.
Meanwhile, Circle's CEO is probably wondering why it took everyone else so long to figure out that "park money in Treasury bills and keep the interest" was a viable business model.
$USDC Sometimes the most radical thing you can do is be incredibly boring.
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The IPO That Broke Wall Street's Brain
Let's start with the numbers as always.
Circle priced at $31 per share on June 5. By June 10, it hit $133. That's a 329% gain in five trading days. To put that in perspective, most stocks consider a 10% move in a year noteworthy.
The IPO was oversubscribed by 25x. Translation: for every share available, 25 investors wanted it. The company raised $1.05 billion, and the market immediately decided that wasn't nearly enough.
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