The IPO documents of stablecoin issuer Circle reveal that it acquired tokenization startup Hashnote in January 2025 for $9.9 million in cash and approximately 2.9 million fully attributable common shares (with a total value of approximately $99.8 million). Hashnote was launched with a $5 million investment from Cumberland Labs and is the issuer of America. Yield Coin (USYC). Since its acquisition, its market share in tokenized US Treasury products has declined. Previously, Circle planned to issue 24 million Class A common shares (at $24-26 per share) through an IPO, raising approximately $600 million, while denying acquisition rumors from Coinbase and Ripple. (TheBlock) http://(wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=43095