On Friday, Circle announced its latest funding round of $440 million, bringing total funds raised to at least $711 million, according to crunchbase. Circle is best known for the USDC stablecoin, which it founded in association with Coinbase through Centre. However, Circle manages the stablecoin on a day-to-day basis, which has grown from a market capitalization of nearly $4 billion at the start of the year to almost $23 billion today.
The new shareholders are a mix of private equity investors as well as strategic investors. They include Fidelity Management and Research, Michael Bloomberg’s philanthropy firm Willett Advisors, Digital Currency Group, and FTX.
Circle has recently announced several high profile hires, including Dante Disparte, who joined as Chief Strategy Officer from Diem (formerly Libra).
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