Shares of stock and crypto trading platform eToro (ETOR) have debuted at $52 a share after the company hit the Nasdaq exchange. The company raised about $310 million from investors as it sold 6 million shares at a price of $52 each. This listing values the company at $4.2 billion.
The price is significantly higher than the marketed range, as the company received a much higher demand than anticipated. eToro becomes the first company to go public after a challenging period in U.S. markets, as discussions around tariffs involved President Donald Trump and global leaders.
Because of such market conditions, many companies, including eToro, had delayed going public; however, Bloomberg reported that the trading platform was moving forward with its plans. The company trades under the ticker “ETOR”.
Over the past week, Ethena has switched some of its reserves from USDS to USDtb — a stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund, or BUIDL. The move means there’s less USDS in circulation, potentially benefiting Sky by reducing the amount of interest the protocol must pay out.
This article has been published in coindesk.com via Yahoo News.
