Circle, the company behind the USDC stablecoin, is going to go public, like Coinbase.

Apparently, BlackRock is planning to buy a 10 percent stake in Circle’s upcoming initial public offering (IPO).

For reference, Circle is aiming to raise $624 million through the IPO, which means BlackRock is willing to spend at least $60 million.

Maybe.

I guess we're back to square one. We want crypto to grow, and crypto can only grow with institutional adoption.

But institutional adoption makes it less decentralised.

Like a dog biting its own tail.