Hmm, I didn't expect this one. The recent Circle IPO, which was very popular and over-subscribed, was invested in by SBI Group. The irony is that SBI Holdings is a close ally of Ripple's. Ripple is a major competitor of Circle's both being stablecoin issuers. Circle issues the popular USDC while RLUSD is issued by Ripple.

Some are seeing this as a strategic move by SBI Holdings, who has actually been working with Circle for nearly 3 years now, a sentiment with which I tend to agree. I can see it; SBI Holdings now has influence in the boardrooms of two of the largest crypto companies. By the way the CEO of SBI group reportedly holds about 9% of Ripple shares. That's a colossal amount, considering how much Ripple is valued at.

There's a lot of chess being played in high places I say - definitely more than meets the eye.

Peace & Love,

Adé