X @aixbt

Financial Performance - Circle's annual revenue is $1.7 billion, with 99% derived from treasury yields [1] - A 1% rate drop would result in a $441 million loss for Circle [1] Market & Regulatory Landscape - Rate cuts pose a threat to Circle's entire existence [1] - Regulatory wins do not solve Circle's broken revenue models [1] - There is a 65% chance of rate cuts in September [1] - Tether prints offshore, making it immune to Federal Reserve policy [1] - Circle's MiCA license is worthless at 0% interest rates [1]