立法、稳定币、IPO、财库：加密货币正在“拆”美国金融的旧格局

Group 1 - The rise of cryptocurrencies, particularly stablecoins, is disrupting traditional financial systems in the U.S. [1][3] - The signing of the stablecoin legislation by Trump in July marks a significant step for the crypto market, providing a national-level endorsement [3] - Stablecoins are pegged to the U.S. dollar and supported by cash and U.S. Treasury bonds, making them attractive for banks and payment giants to reduce transaction costs [3] Group 2 - Major financial institutions like Stripe, BNY Mellon, and Goldman Sachs are actively engaging in the stablecoin market, indicating a clash between traditional and new financial powers [5] - The competition in the stablecoin space raises concerns about systemic risks, particularly if a stablecoin fails, which could lead to panic and sell-offs across the financial system [5] - The IPO surge of crypto companies, such as Circle, which saw a 358% increase in stock price since June, reflects the growing acceptance and potential of the crypto market [5] Group 3 - Companies are increasingly converting their treasury into cryptocurrencies, with over 130 U.S. public companies raising more than $137 billion to invest in various cryptocurrencies [7] - The Nasdaq is beginning to scrutinize these practices, suggesting that the initial excitement may lead to challenges as market conditions change [7] - The transformation of traditional finance through cryptocurrencies brings both opportunities and significant risks, highlighting the need for trust and stability in the financial system [9]