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Crypto firm Circle sees valuation boost on Fed’s move to raise rates
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The Federal Reserve’s decision to start raising rates has a surprising beneficiary: a cryptocurrency startup.
The new rate outlook helped crypto firm Circle boost the valuation of its pending merger with a special-purpose acquisition company to $9bn. Circle issues a so-called stablecoin, called USD Coin or USDC, that is a popular vehicle to buy crypto because it is pegged to the US dollar.
Circle...
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