Wintermute Calls Out Near Foundation, HSBC To Launch Digital Asset Custody Platform
U.S. equity indices are showing mild losses, with both the SPY and QQQ declining about 0.20% at the time of writing. Treasury yields are continuing yesterdayâs retreat, with the US10Y approaching 4.50%. Crypto markets are mixed, with BTC (-0.19%) sitting above $35k and ETH (+0.61%) hovering just below $1,900. Large-cap altcoins are showing strength today, with LINK -2.82% (+7.29%) and MATIC (+6.54%) being two of the best performers in the top 100 tokens. Circle, the issuer behind USDC, is reportedly contemplating an IPO in 2024. Circle tried to go public via a SPAC in 2022 at a valuation of $9 billion, but itâs unclear what valuation they would seek through a potential IPO. USDC currently has a market cap of approximately $24 billion, but its stablecoin dominance ratio has waned this year after it de-pegged during the SVB collapse.
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