Shares of Circle Internet Group (CRCL 9.27%) jumped today, finishing the day up 9.3%, but were up as much as 10.4% earlier in the day. The spike came as the S&P 500 and Nasdaq Composite rose modestly.A wave of positive sentiment within the world of crypto helped lift Circle stock just a month after its initial public offering.A week of mostly positive news wasn't enoughBitcoin raced past the $120,000 mark for the first time ever as lawmakers in Washington kicked off "Crypto Week." The U.S. House of Represen ...

Stablecoin Market - Stablecoin 在以太坊 L1 上的供应量达到 1370 亿美元，占总供应量的 51% 且持续增长 [1] - Blackrock 的 BUILD 增长 56% [1] - PayPal 的 PYUSD 增长 19% [1] Industry Perspective - Fundstrat 认为这是加密货币领域的 ChatGPT 时刻 [1] - 所有增长都发生在以太坊上 [1]

Partnerships & Integrations - OKX 加入全球美元网络 [1] - OKX 整合 Paxos 发行的 USDG 稳定币 [1]

China’s Stablecoin Studies Hint at 'Tiered' But Fractured Approach► https://t.co/wYteDwgigY https://t.co/wYteDwgigY ...

Key Narratives - PinLinkAi is positioned at the forefront of three top narratives in crypto: RWA Marketplace, BTCFi, and Stablecoin Access [1] RWA Marketplace - Offers fractional ownership of real Bitcoin mining fleets on-chain [1] BTCFi - Provides non-custodial BTC hashrate futures, enabling users to earn daily mining yield with monthly BTC payouts [2] Stablecoin Access - Allows the use of USDC to invest in BTC-mining operations via USDCShop [2] - Fees generated go back into the ecosystem [2] Financial Performance & Ecosystem Value - PinLink has executed over $670 thousand in buybacks from real BTC yield [2] - On-chain value backs $PIN [2] Market Positioning - $PIN is undervalued compared to other RWA leaders like Ondo, Clearpool, and Plume [2]

Core Insights - The rapid development of supply chain finance in China over the past decade, particularly in the last five years, has played an irreplaceable role in serving the real economy, ensuring the stable operation of supply chains, and promoting healthy economic growth. The total scale of supply chain finance has exceeded 40 trillion yuan, with an annual compound growth rate faster than the economic growth rate [1][2]. Group 1: Development Factors - The macroeconomic stability of China's economy and the global financial environment has significantly contributed to the growth of supply chain finance [2]. - Legal frameworks, including the implementation of the Property Law in 2006 and the Civil Code, have established a solid legal foundation for the financing of movable property and rights [2]. - The establishment of a centralized registration system for movable property and rights has improved the efficiency and clarity of financing processes [2]. Group 2: Financing Structure - The main suppliers of supply chain financing are commercial banks and non-bank financial institutions, while the primary demand comes from small and micro enterprises, particularly in agriculture and commerce [1]. - The fastest-growing and largest share of financing methods includes accounts receivable pledge financing and various types of bill financing [1]. - Other financing methods include collateralized financing based on inventory and movable assets, credit financing based on orders and invoices, and mixed financing models [1]. Group 3: Challenges and Risks - Core enterprises often exhibit non-compliant behavior, such as delayed confirmations and payment defaults to small and micro enterprises, leading to complex debt chains [5]. - Some information service companies in supply chain finance face governance issues, operational opacity, and insufficient market supervision, which may pose significant risks [5]. - The legal and judicial mechanisms for resolving debt disputes in supply chain finance are not fully developed, hindering the protection of legitimate rights and interests [5]. Group 4: Recommendations for Improvement - Implement the recently issued regulations to ensure timely payments to small and micro enterprises and enhance the overall business environment [6]. - Improve the governance of supply chain information service institutions to ensure transparency and accountability [7]. - Establish efficient legal and judicial mechanisms for accounts receivable financing and movable property financing to facilitate smoother transactions [8]. - Explore the use of blockchain and stablecoins in supply chain finance to leverage their innovative advantages while managing associated risks [9].

Regulatory Landscape - Republican House leaders expect to pass an industry-friendly stablecoin regulatory bill this week [1]

Stablecoin Adoption - Tokenized stocks are expected to drive significant stablecoin adoption [1]

🔥 LATEST: Crypto and stablecoin infrastructure provider Zerohash is raising $100M at a $1B valuation, per Fortune. https://t.co/swdd4M7oyO ...

stablecoin landscape splitting into distinct pathsregulated: Circle launches payment network, pursues banking license, expands EURC cross-chain ($200M circ)alternative: new projects target different segments, build separate infrastructureclear infrastructure divergence forming • market adapting to reality of dual systems ...