Circle (CIRC) recently submitted court documents to transfer its legal domicile to the United States from Ireland, as reported by a spokesperson for the company.

Circle (CIRC) initiated the relocation of its legal headquarters to the United States from Ireland. The company, which is the issuer of the second-largest stablecoin, announced its intention to go public in the United States back in January.

According to Bloomberg’s report on Wednesday, Circle (CIRC), the issuer of the USDC stablecoin, aims to establish the United States as its new legal base in anticipation of an upcoming initial public offering in the country. The spokesperson, mentioned in the report, refrained from providing detailed explanations for the move.

Circle (CIRC), which formally applied for a public listing with the U.S. Securities and Exchange Commission (SEC) earlier this year, is currently headquartered in the Republic of Ireland.

With a market capitalization of approximately $33 billion, Circle’s (CIRC) USDC holds the position of the second-largest stablecoin in the cryptocurrency market, as per CoinMarketCap’s data. Tether’s USDT, valued at $100 billion, occupies the top spot.

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As bitcoin prices soar, crypto wallet recovery services are experiencing a sharp increase in demand from retail investors desperate to regain access to their accounts. Cryptocurrencies, stored on decentralized blockchain ledgers, can be accessed through software or hardware wallets, bypassing traditional exchanges. This method, while reducing certain risks, also presents challenges such as forgotten passwords and lost access to two-factor authentication devices, which can lock investors out of their holdings.

The recent bitcoin rally, reaching a high of $73,803.25 in March, has intensified the fear of missing out (FOMO) among investors. According to Reuters, several investors who lost access to their wallets have successfully regained entry through recovery services, driven by the higher stakes involved as bitcoin prices hover around $60,000.

Companies like ReWallet in Germany and U.S.-based Wallet Recovery Services have reported significant increases in service requests, with some fees reaching 20% of the wallet’s value, payable only upon successful recovery. The urgency for access is underscored by an estimated 20% of all bitcoins being inactive, translating to about $237 billion in potentially lost assets.

As the crypto market continues to fluctuate, wallet recovery services are becoming crucial for investors locked out of their digital fortunes, highlighting the ongoing challenges and opportunities within the cryptocurrency security sector.

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Crypto markets showed minimal changes in the last 24 hours, with major cryptocurrencies like Bitcoin and Ether experiencing slight fluctuations, according to CoinGecko data. Bitcoin rose by just over 1%, while Ether dropped by 0.5%. Meanwhile, BNB from BNB Chain and Sol from Solana recorded a 3% decrease.

The crypto landscape saw significant activity among meme coins, which surged following a continued rally in GameStop’s (NYSE:GME) shares earlier in the week. Dog-themed Floki led the gains among major tokens, climbing 12%, while Pepe  reached a new all-time high with a 5% increase.

The meme coin rally was partly fueled by a social media post from Keith Gill, a notable retail trader who previously influenced a major short squeeze on GameStop’s stock in 2021. His recent post led to a surge in meme stocks and tokens, drawing on his @TheRoaringKitty persona.

Amid this, a joke GameStop token on the Solana blockchain reached a $100 million market capitalization, marking a 700% increase in just a week.

Despite these gains among meme tokens, the broader crypto market appears weak, with no significant support from the bullish trends in equities or the weakening dollar, as noted by Alex Kuptsikevich, a senior market analyst at FxPro.

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Coinbase, a prominent cryptocurrency exchange, is currently grappling with a system-wide outage, prompting concerns among users. The exchange has swiftly responded to the situation, assuring customers that their funds remain secure while its team diligently works on resolving the issue.

In a recent announcement, Coinbase acknowledged the outage and disclosed that its team is actively investigating the underlying cause. Despite the disruption, the exchange emphasized that users’ funds are safe, aiming to alleviate any potential concerns regarding the security of their assets.

As of now, accessing Coinbase’s website results in a “503 Service Temporarily Unavailable” alert, indicating the extent of the technical difficulties being faced by the platform.

This isn’t the first instance of technical challenges for Coinbase. In March, the exchange encountered similar issues, including disruptions to its trading platform during periods of heightened activity. Some users even reported inaccuracies in their account balances, further underscoring the importance of swift and transparent communication from the exchange during such incidents.

While system-wide outages can be disruptive, Coinbase’s proactive response and assurance regarding the safety of users’ funds reflect its commitment to maintaining trust and transparency within the cryptocurrency community. As the exchange works to resolve the current issue, users can expect updates from Coinbase regarding the restoration of services and any further developments.

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In a recent 13F filing with the Securities and Exchange Commission, the State of Wisconsin Investment Board disclosed substantial investments in various crypto entities, marking a significant foray into the digital asset space.

The Board revealed ownership of 2,450,400 shares of the iShares Bitcoin Trust (IBIT), a spot bitcoin exchange-traded fund managed by BlackRock, valued at approximately $99.2 million by the end of the first quarter of 2024. Additionally, the Board disclosed ownership of 1,013,000 shares of the Grayscale Bitcoin Trust (GBTC), valued at around $63.7 million.

Aside from bitcoin trusts, the Board’s crypto portfolio includes investments in leading cryptocurrency firms such as Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, Cleanspark, and MicroStrategy.

This significant move by the State of Wisconsin Investment Board underscores the growing institutional interest in digital assets. The Board, tasked with managing investments for public retirement and other trust funds in Wisconsin, has joined the ranks of institutional investors embracing cryptocurrencies as part of their diversified investment strategies.

BlackRock’s IBIT and Grayscale’s GBTC are prominent players in the spot bitcoin ETF market, commanding significant market share. The Board’s substantial investment in these ETFs reflects its confidence in the long-term potential of cryptocurrencies as an asset class.

Commentary from Bloomberg’s ETF analyst highlights the swift adoption of spot bitcoin ETFs by institutional investors. The Board’s quick entry into IBIT signals a departure from the usual timeline for institutional adoption, indicating growing confidence in the maturity and liquidity of crypto ETFs.

IBIT’s rapid growth and surpassing of previous ETF records underscore its significance in the evolving investment landscape. As institutional investors continue to explore opportunities in digital assets, the trajectory of spot bitcoin ETFs like IBIT will likely shape the future of crypto investment strategies.

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