Ex-SoftBank rainmaker Akshay Naheta eyes stake sale in his stablecoin startup

After a two-year lull following spectacular blowups in the cryptocurrency market, such as FTX, BlockFi Inc., and Three Arrows Capital Ltd., investors are again warming up to the sector. There’s roughly $200 billion worth of stablecoins — a cryptocurrency designed to have a relatively stable price, by being pegged to a commodity or currency — in circulation, according to DefiLlama.