Circle Internet on Wednesday priced its upsized US initial public offering at $31 (roughly Rs. 2,660) apiece, raising $1.05 billion (roughly Rs. 9,001 crore), adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets. Circle and its shareholders sold 34 million shares at $31 (roughly Rs. 2,660) apiece, valuing the company, which … Read more
Stablecoin issuer Circle Internet’s shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum. The New York-based company’s stock opened for trading at $69 (roughly Rs. 5,920) apiece, valuing the stablecoin issuer at nearly $18 billion (roughly Rs. 1,54,356 … Read more
Uber is reportedly exploring the use of stablecoins once again. During the Bloomberg Tech conference held this week in San Francisco, Uber CEO Dara Khosrowshahi, discussed the company’s ongoing study on the use of stablecoins. Uber is looking to reduce the costs of processing international money transfers, and it is now studying the use of … Read more
Stablecoin issuer Circle Internet’s shares climbed 48 percent on Friday, extending a stellar run after a blowout market debut on the New York Stock Exchange a day earlier. New York-based Circle’s stock went as high as $123.49 (roughly Rs. 10,566), nearly four times its $31 (roughly Rs. 2,650) offer price and valuing the company at … Read more
Most illegal activity happening on cryptocurrency ledgers now involves the tokens known as stablecoins, according to a report released on Thursday by an intergovernmental body that develops policies to protect the global financial system against money laundering and terrorist financing. The findings in the new report from the Financial Action Task Force land just as … Read more
US senators Elizabeth Warren and Richard Blumenthal have written to Meta seeking details on the company’s stablecoin-related plans. The senators have asked Meta CEO Mark Zuckerberg to clarify whether the company intends to launch its stablecoin. Given its mammoth global userbase and the impending final vote on the US stablecoin-focused GENIUS Act, the senators aim … Read more
The US Senate on Tuesday passed a bill to create a regulatory framework for US-dollar-pegged cryptocurrency tokens known as stablecoins, in a watershed moment for the digital asset industry. The bill, dubbed the GENIUS Act, received bipartisan support, with several Democrats joining most Republicans to back the proposed federal rules. It passed 68-30. The House … Read more
Coinbase Global is launching a platform designed to make stablecoins a go-to payment method for online transactions, a potentially big leap forward in the mainstream adoption of cryptocurrencies meant to track the US dollar. The announcement follows the passage of landmark stablecoin legislation in the US Senate on Tuesday and comes as large retailers have expressed interest in exploring … Read more