Odaily News According to the latest IPO documents submitted by Circle to the U.S. Securities and Exchange Commission (SEC), the company completed its full acquisition of tokenization startup Hashnote in January 2025. The total transaction amount was approximately US$99.8 million, including US$9.9 million in cash and approximately 2.9 million shares of Circle common stock (fully vested).
The transaction also includes the issuance of up to an additional 1.8 million common shares to incentivize Hashnote employees, and the relevant shares will be vested based on service period and included in compensation costs, the documents show.
Circle has not previously disclosed the acquisition amount. The disclosure also shows that Circle plans to raise about $600 million through an IPO, issuing 24 million Class A common shares at a price range of $24 to $26 per share.
Hashnote received a $5 million investment from Cumberland Labs, and its product USYC has lost market share in the U.S. debt tokenization market after the acquisition. The market is currently dominated by BlackRock's BUIDL fund, with assets approaching $3 billion (The Block).

Odaily News USDC stablecoin issuer Circle plans to bring its recently acquired Hashnote tokenized money market fund under the regulatory scope of Bermuda. Hashnote is reported to have issued the largest tokenized money market fund, USYC, with assets of nearly $1 billion. Circle CEO Jeremy Allaire believes that operating in Bermuda is a "natural choice" for USYC given Bermuda's role in digital asset regulation. (Coindesk)

Odaily News The RWA protocol TVL has reached $7.3 billion, up more than 200% year-over-year, with Usual Protocol and Hashnote USYC leading with approximately $1.48 billion in TVL respectively.
Hashnote is a regulated digital asset management platform that offers innovative investment strategies, while Usual Protocol is a decentralized stablecoin issuer that tokenizes RWA and redistributes value to users through governance tokens.
The composition of RWA TVL has shifted significantly to government securities, which now account for about two-thirds of the total RWA TVL, up from 36% a year ago. Analysts believe that this shift indicates that investors have growing confidence in compliant, government-backed digital assets, and that the market is maturing as protocols focus on traditional financial instruments. (The Block)

1. VItalik: I have the power to make decisions on the personnel of the Ethereum Foundation team. Please stop creating an environment that is harmful to talents.
2. Jupiter: Airdrop claim will start at 23:30 tomorrow (GMT+8);
3. MicroStrategy purchased another 11,000 BTC;
4. Aethir has reached a cooperation with the Avalanche Foundation to support the Infrabuidl AI program through a $100 million ecological fund;
5. Telegram has reached a new cooperation with the TON Foundation. Telegram will stop supporting blockchains and cryptocurrencies other than TON.
6. Vitalik: Supports providing ETH holders with a gadget similar to anonymous broadcasting, and determines the speaking frequency based on the amount of ETH held;
7. SEC Acting Chairman Mark Uyeda announced the establishment of a new crypto working group to develop a regulatory framework;
8. The U.S. Senate Finance Committee voted to approve the nomination of Scott Bessent as Treasury Secretary;
9. US SEC: The new cryptocurrency task force will develop a comprehensive and clear regulatory framework;
10. Hester Peirce will lead the newly established cryptocurrency working group of the US SEC;
11. Trump responded to the coin issuance: I don’t know whether TRUMP coin is profitable, but I heard it is very successful;
12. Trump has signed a pardon order for Ross Ulbricht, the founder of the dark web Silk Road;
13. Upbit and Bithumb will compensate $2.4 million to users who suffered losses due to downtime during the Korean martial law incident;
14. Genius Group increased its holdings of Bitcoin worth $5 million, and currently holds 420 Bitcoins;
15. KULR purchased another $8 million worth of Bitcoin;
16. Circle acquires USYC publisher Hashnote;
17. MicroStrategy approved a share increase from 330 million shares to 10.3 billion shares;
18. The official website of the U.S. government efficiency department was launched, displaying the DOGE Logo.