Circle jumps on report of Ant Group adopting its stablecoin

Newly public stablecoin giant Circle was up 4% as the market opened, following a Bloomberg report that Jack Ma-backed Ant Group will use its stablecoin on the Chinese fintech company’s blockchain platform after “the asset becomes compliant in the US,” though no timeline has been set.

The shares gave back most of those gains in early trading, however, and are up roughly 1% as of 11 a.m. ET.

Circle, which had a mammoth IPO earlier this month, issues USDC, a stablecoin pegged to the dollar, which has a $62.56 billion market cap and is the second-largest stablecoin.

Jack Ma-Backed Ant to Add Circle’s Stablecoin to Global Platform

Circle, which had a mammoth IPO earlier this month, issues USDC, a stablecoin pegged to the dollar, which has a $62.56 billion market cap and is the second-largest stablecoin.

More Crypto

See all Crypto

Yaël Bizouati-Kennedy

Sol cycles

10/23/25

Solana rises as Solmate announces “aggressive” acquisition plans and spot ETF filings grow

Solana ETFs take the lion’s share of the ETF filings, with 23 waiting to be approved, per Bloomberg analyst Eric Balchunas.

Sage D. Young

10/23/25

Ethereum treasury firms surpass bitcoin treasury companies by percentage of total supply

Asia’s institutional conviction for the second-largest cryptocurrency deepens as Tokyo-listed Quantum Solutions scoops up about 2,000 ethereum tokens through its subsidiary.

Yaël Bizouati-Kennedy

10/22/25

Standard Chartered: Bitcoin’s dip below $100,000 is “inevitable”

Participants in prediction markets are also betting that bitcoin will dip below $100,000 this year.

Sage D. Young10/21/25

XRP treasury firm trend grows as Evernorth, backed by Ripple Labs, enters the arena

The fifth-largest cryptocurrency by market cap, XRP, is getting a new treasury firm: Evernorth.

The firm will list on the Nasdaq and expects to raise over $1 billion in gross proceeds from SBI, Ripple Labs, Pantera Capital, Kraken, and GSR, according to a press release. Chris Larsen, cofounder and executive chairman of Ripple, also announced investing 50 million XRP tokens worth $124.5 million. Net proceeds are dedicated for open-market acquisitions of XRP.

Evernorth joins a number of firms stockpiling XRP, such as VivoPower International, Trident Digital Tech Holdings, and Webus.

The announcement comes during a fragile period for crypto markets, but the latest news has boosted XRP’s price and the asset is back to flat over the last seven days.

Sage D. Young

10/20/25

BitMine acquires an additional $820 million of ethereum

Meanwhile, investment management firm VanEck filed for a staked ethereum ETF with decentralized finance giant Lido.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.