BlackRock to Purchase 10% of Circle's IPO: Report
Summary
BlackRock plans to acquire approximately 10% of Circle's upcoming IPO, which aims to raise $624 million. Circle, the issuer of the USDC stablecoin, launched its offering of 24 million shares of Class A common stock on May 27. Ark Investment Management, led by Cathie Wood, is also interested in purchasing $150 million worth of shares. The offering includes shares from the company and existing stakeholders, such as co-founder and CEO Jeremy Allaire.
