Latest news with #CircleInternetGroupInc.
Bloomberg
2 days ago
- Business
- Bloomberg
Crypto Bros Are a Risk to Stability, Just Like Trade
Circle Internet Group Inc.'s blockbuster initial public offering has lent an aura of legitimacy to digital clones of fiat currencies. It has also put regulators and policymakers on notice. With crypto going mainstream, they need to assess the threat it poses to global financial stability. Citigroup Inc. is describing 2025 as a possible 'ChatGPT moment' for stablecoins, which its analysts have pegged for a sevenfold expansion over the next five years. However, for the market to reach $1.6 trillion by 2030, a lot of the dollars held as banknotes and other liquid assets by households and firms will have to get tokenized into the likes of Tether's USDT and Circle's USDC.
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin on the Brink: Institutional Firepower and IPO Frenzy Fuel Crypto's Next Big Move
Bitcoin (BTC-USD) briefly flirted with record territory on Tuesday, rising as much as 1.7% to $110,572 before easing backjust shy of its May 22 peak of $111,980. The digital asset is still up about 16% year-to-date, buoyed by expectations of a friendlier regulatory stance from the Trump campaign and optimism over improving trade dynamics with China. That shift in sentiment is nudging investors back into risk-on mode. Ether joined the rally too, jumping as much as 8% during the session. But this isn't just retail hype. A deeper undercurrent is at playone that's being driven by real institutional flows. Circle Internet Group Inc.'s IPO is the latest example. Priced at $31, it surged to $107 in just days, showcasing strong appetite for crypto-aligned equities. Meanwhile, BlackRock's IBIT ETF just hit $70 billion in assets under managementmaking it the fastest ETF ever to reach that mark. Michael Saylor's Bitcoin playbook is being replicated across the street, and it's pushing the narrative forward. There's a drumbeat of announcements, said Eric Jackson of Emj Capital. Sovereigns, treasuries, fundsthey're all leaning in. At the policy level, things could get even more interesting. A new wave of stablecoin legislation is in motion, aiming to bring more clarity to crypto regulation. If passed, it could hand institutional investors the regulatory green light they've been waiting for. Jake Ostrovskis at Wintermute sees this building momentum as a key force behind Bitcoin's recent price action. While short-term volatility remains, the structural trend is harder to ignore. A larger share of the market is starting to treat Bitcoin not as speculationbut as a legitimate asset class vying for a place next to gold. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin on the Brink: Institutional Firepower and IPO Frenzy Fuel Crypto's Next Big Move
Bitcoin (BTC-USD) briefly flirted with record territory on Tuesday, rising as much as 1.7% to $110,572 before easing backjust shy of its May 22 peak of $111,980. The digital asset is still up about 16% year-to-date, buoyed by expectations of a friendlier regulatory stance from the Trump campaign and optimism over improving trade dynamics with China. That shift in sentiment is nudging investors back into risk-on mode. Ether joined the rally too, jumping as much as 8% during the session. But this isn't just retail hype. A deeper undercurrent is at playone that's being driven by real institutional flows. Circle Internet Group Inc.'s IPO is the latest example. Priced at $31, it surged to $107 in just days, showcasing strong appetite for crypto-aligned equities. Meanwhile, BlackRock's IBIT ETF just hit $70 billion in assets under managementmaking it the fastest ETF ever to reach that mark. Michael Saylor's Bitcoin playbook is being replicated across the street, and it's pushing the narrative forward. There's a drumbeat of announcements, said Eric Jackson of Emj Capital. Sovereigns, treasuries, fundsthey're all leaning in. At the policy level, things could get even more interesting. A new wave of stablecoin legislation is in motion, aiming to bring more clarity to crypto regulation. If passed, it could hand institutional investors the regulatory green light they've been waiting for. Jake Ostrovskis at Wintermute sees this building momentum as a key force behind Bitcoin's recent price action. While short-term volatility remains, the structural trend is harder to ignore. A larger share of the market is starting to treat Bitcoin not as speculationbut as a legitimate asset class vying for a place next to gold. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
02-04-2025
- Business
- Bloomberg
Stablecoins Are Growing Up
I have always thought of stablecoins as basically unregulated non-interest-paying crypto banks. The idea of a stablecoin is that there is a company, the stablecoin issuer, and you send the company dollars, and it gives you back tokens ('stablecoins'). Each token is supposed to be worth a dollar, and if you hand the issuer back a token it will hand you back a dollar. 1 But mostly you hold onto the stablecoins and the issuer holds onto your dollars. You both arguably benefit from this: But yesterday Circle Internet Group Inc., the big US-based issuer of the USDC stablecoin, filed publicly for an initial public offering. It has previously filed confidentially, but its prospectus is available now. It is an interesting read, and it has caused me to update my model of stablecoins in two respects:
