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Caplight: secondary market shares of USDC stablecoin developer Circle were trading at a ~$4.8B valuation in August 2023; Circle was valued at $8B in April 2022 (Leo Schwartz/Fortune)

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Leo Schwartz / Fortune:

Caplight: secondary market shares of USDC stablecoin developer Circle were trading at a ~$4.8B valuation in August 2023; Circle was valued at $8B in April 2022  —  On a fateful evening in March, Jeremy Allaire sat in a Dubai hotel room as a catastrophe unfolded.





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