Cathie Wood buys $18 million in battered crypto stock

Dumping $7.8 million of Alibaba to bet $18 million on Circle—a company whose stock just plummeted 15%—is a move only Cathie Wood would make. While giants like BlackRock and Visa launch a rival stablecoin to challenge Circle’s USDC, Wood is doubling down on the underdog. It’s a massive gamble that crypto infrastructure is a better bet than global e-commerce, even when the biggest names in finance are moving against her. Is Wood a visionary or is she just catching a falling knife?
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