Matt Levine / Bloomberg:

Circle's S-1 shows that it is basically a fintech and that, as of December 31, 2024, ~85% of USDC reserves were held in a BlackRock-managed money market fund  —  Circle, slangy wealth management chatbots, private credit runs, SEC climate rules and OCC desk space.

Matt Levine / Bloomberg:

Circle's S-1 shows that it is basically a fintech and that, as of December 31, 2024, ~85% of USDC reserves were held in a BlackRock-managed money market fund  —  Circle, slangy wealth management chatbots, private credit runs, SEC climate rules and OCC desk space.

Source: TechMeme
Source Link: http://www.techmeme.com/250403/p6#a250403p6