🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,060,000 USD) transferred from #Kraken to #Bitfinexhttps://t.co/xDsfU7omsU ...

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🚨 🚨 🚨 🚨 🚨 120,000,000 #USDT (120,012,000 USD) transferred from #Kraken to #Bitfinexhttps://t.co/XceDZQ3ilt ...

🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,010,000 USD) transferred from #Bitfinex to #Krakenhttps://t.co/SmdEtPpFQv ...

🚨 🚨 🚨 🚨 🚨 100,000,000 #USDT (100,029,250 USD) transferred from #Kraken to #Bitfinexhttps://t.co/O7IUscB7SJ ...

Summary of Conference Call Industry and Company Involved - The conference call focused on the **stablecoin** industry and its implications, particularly in the context of recent legislative developments in **Hong Kong** and the **United States** regarding stablecoins and blockchain technology [1][3][6]. Core Points and Arguments - **Increased Attention on Stablecoins**: The market's interest in stablecoins has surged due to recent legislative advancements in Hong Kong and the U.S., alongside the potential listing of a stablecoin issuer in the U.S. [1][3]. - **Stablecoin as a Currency**: For stablecoins to function effectively as a currency, a stable monetary system is essential, which may involve a one-to-one correspondence with fiat currencies [4][5]. - **Global Promotion of Stablecoins**: The establishment of stablecoin systems by countries can enhance their monetary status globally, potentially challenging the dominance of the U.S. dollar [6]. - **Payment and Settlement Systems**: The stablecoin payment flow system is crucial, involving both issuance and custody mechanisms, which are essential for the functioning of stablecoins [7][9]. - **Investment Opportunities**: Companies involved in the issuance and management of stablecoins, such as **JD.com** and **Central Online**, are highlighted as potential investment opportunities [8][9]. - **Cross-Border Payment Systems**: Companies like **Newland** and various IT firms are expected to benefit from the development of cross-border payment systems enabled by stablecoins [12]. - **RWA (Real World Assets)**: The discussion also touched on RWA, which involves tokenizing physical assets to enhance liquidity and reduce transaction costs, presenting broader investment opportunities [13][16]. Other Important but Possibly Overlooked Content - **Market Dynamics**: The most profitable entities in the stablecoin market are the issuers, who benefit from high yields on short-term U.S. Treasury securities [24]. - **Role of Exchanges**: Exchanges play a significant role in the growth of stablecoins, as seen with **Circle** and **Tether**, which have partnered with major trading platforms to increase their market presence [25]. - **Regulatory Environment**: The evolving regulatory landscape in both the U.S. and Hong Kong is crucial for the future of stablecoins and their adoption [3][6]. - **Potential of Hong Kong Stock Exchange**: The Hong Kong Stock Exchange is seen as a key player in the RWA space, particularly for tokenizing stocks for trading [28]. This summary encapsulates the key insights and discussions from the conference call, providing a comprehensive overview of the current state and future potential of the stablecoin industry and related investment opportunities.

2025.07. 07 本文字数：3594，阅读时长大约6分钟 作者 | 一财评论 上周我们分析了世界第二大稳定币公司Circle成功上市后股价大涨的原因（参见7月1日《第一财经日 报》A11），目前其股价维持在180美元上下，比IPO价格翻了近6倍。以Circle去年利润1.57亿美元 来估值，目前全球第一大稳定币公司Tether去年利润达130亿美元，如果上市其估值可以轻松突破万 亿美元。截至2024年底，Tether只有150名正式员工，却创造了相当于全球最赚钱投行高盛45000名 员工的利润水平。本文将分析这家世界第一大稳定币公司是如何炼成的。 Tether的起源和在中国香港成立的交易所Bitfinex紧密相连。早期，Tether依赖于Bitfinex的团队支 持，以保持运营的高度灵活性，并维持极为精简的员工规模。Tether保守与谨慎的发展策略以及应对 监管环境的方式，缘于其经历过的多次危机与"濒临破产"的困境。直到Tether在应对FTX倒闭引发的 2022年加密货币寒冬时表现相对优异，这一审慎战略才开始变化。到2025年，Tether凭借其盈利能 力、庞大的规模以及相对简单的核心业务模式，成为行 ...

Tether凭借其盈利能力、庞大的规模以及相对简单的核心业务模式，成为行业中的佼佼者。 Tether最初以Realcoin的名义于2014年由Brock Pierce、Reeve Collins和Craig Sellars在中国香港创立，旨 在为去中心化的比特币交易创建一种与美元挂钩的稳定币。不久后，该项目更名为Tether，并在Omni层 （比特币"第二层"协议）推出，解决了比特币交易中的高交易费用等问题。随后，其原始创始人退出了 业务，将公司出售给了Bitfinex所有者。他们认为Tether是连接全球比特币平台的关键桥梁，使比特币能 够像其他金融产品一样交易，而无需传统金融体系的参与。 当时，Bitfinex还是一家新兴的比特币交易所，人员规模较小，但从一开始便是一个去中心化的企业。 Bitfinex的首席财务官，即Devasini曾是一名意大利整形外科医生，后来转向开发基于Linux的业务，包 括卫星电视接收器和机顶盒。在接触到Linux的开源理念后，Devasini和新一届Tether管理层自然对去中 心化技术和加密技术持开放态度。 在中本聪2009年发布比特币白皮书后，最早的比特币用户主要是那些极 ...

Stable, a Bitfinex-backed Layer 1 blockchain using Tether's USDT as a gas token, unveils 'Phase 1' of its roadmap https://t.co/3V3L5CBmi4 ...

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