Circle CEO Jeremy Allaire addresses stablecoin growth after firm's first earnings: CNBC Crypto World

Market Trends & Crypto Performance - Bitcoin dipped slightly below $120,000 but Ether rose to $4,468, approaching its 2021 all-time high of over $4,800; Solana also increased to $181 [2] - Increased crypto activity is observed when Bitcoin reaches all-time highs, impacting altcoins as well [12][15] - July saw elevated crypto activities with Bitcoin reaching approximately $123,000, followed by an "alt season" with Ethereum and Solana rising [13][15] Regulatory Landscape & Company Initiatives - Paxos is seeking a national trust bank charter, aiming for federal regulation [4][5] - Circle also submitted a bank charter application to the office of the controller of the currency [6] - Regulatory advancements in the US are seen as a positive sign for crypto, potentially leading to mainstream adoption [14] - eToro expanded its crypto offerings for US users, now allowing trading of over 100 cryptocurrencies and planning to launch staking [16][17] - eToro believes blockchain technology will facilitate the transfer of wealth as traditional assets move onto the blockchain, with plans to launch tokenized stocks [21] Company Financials & Performance - Circle reported a 53% jump in revenue, reaching $658 million from $430 million a year ago, but had a net loss of $482 million due to charges related to its NY debut; USDC circulation grew 90% year-over-year [6][7] - eToro's net contribution from crypto grew 34% year-over-year to $27 million, driven by higher invested amount per trade [9][11]