💥 BlackRock Eyeing Massive Stake in USDC Maker! 🚀
Big news! BlackRock might be grabbing a 10% slice of Circle's upcoming IPO. Circle, the force behind the USDC stablecoin, is aiming to raise $624 million, and it seems like everyone wants a piece of the action! Even Cathie Wood’s Ark Investment Management is reportedly interested in snagging $150 million worth of shares.
Circle launched its offering of 24 million shares of Class A common stock on May 27. The IPO is already oversubscribed multiple times. Remember those rumors about Circle being acquired by Ripple or Coinbase? Circle squashed them, declaring, "We are not for sale."
USDC currently commands 24.6% of the stablecoin market, second only to Tether. Circle's revenue hit $1.67 billion in 2024, a 16% jump year-over-year. What do you think of this?
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