Circle IPO did a 5x on launch.XPL is the biggest token of the year.Cloudflare CEO announced their stablecoin this week.USDH went live this past week.ZeroHash just raised $104M to build a stablecoin.USAT announced by Tether this month.Stripe is rumored to be launching a stablecoin early next year.Ethena’s USDe crossed $14B+ in outstanding supply.MegaETH announced their USDm stablecoin.Frax is gearing up to launch FraxNet.Tether is raising at $500B valuation.Korean Won stablecoin is coming via Avalanche.GENIU ...

Market Trends & New Entrants - Circle's IPO experienced a 500% increase upon launch [1] - XPL is recognized as the year's most prominent token [1] - Cloudflare's CEO unveiled their stablecoin project this week [1] - USDH has recently been launched [1] - MegaETH announced their USDm stablecoin [1] - A Korean Won stablecoin is in development on Avalanche [1] - Stripe is rumored to be launching a stablecoin early next year [1] Investment & Funding - ZeroHash secured $104 million to develop a stablecoin [1] Regulatory Landscape & Projections - The GENIUS Act was enacted this past summer [1] - The US Treasury Secretary Bessent aims for a total stablecoin supply of $3 trillion by 2028 [1] Industry Outlook - The demand for stablecoin exposure is considered virtually limitless [2] - All major banks are actively exploring their digital asset strategies [2] - The industry is entering a "Stablecoin Supercycle" [2]

我今天想了很久，世界是很割裂的。Circle ipo的时候，都觉得贵。开盘70刀敢买的没几个，110刀的时候一大堆人喊空。我也无法理解为什么韩国的韭菜这么傻逼的猛干，连昨天的ena都能冲我也无法理解为什么hype上的pump有2亿刀持仓（虽然部分是假的），顶着40%的溢价开多。没有任何暗示，只是很多时候确实不能把别人都想着跟自己一样的思维。 ...

Market Trends & Investment Opportunities - Bitcoin hits a new record, potentially signaling the start of a longer bull run, driven by institutional demand and regulatory tailwinds [1] - Historically, July and the fourth quarter are strong periods for Bitcoin [1] - Bitcoin ETFs experienced their biggest day of inflows this year, exceeding $1 billion, marking the second-largest inflow day on record for ETH ETFs [3] - Circle IPO provided reasons for investors to be interested in crypto beyond Bitcoin's price, reducing perceived risk [5][6] - Tokenization, including stablecoins, has helped revive ETH, which is outperforming Bitcoin ahead of its 10-year anniversary [4] Financial Performance & Liquidation - Over $655 million in Bitcoin and short Bitcoin positions were liquidated in the past 24 hours [2] Macroeconomic Factors - The Fed meeting at the end of the month should be monitored as a potential macro catalyst [3] Regulatory Landscape - Congress is making headway on legislation, and the White House is supportive of crypto [5][6]

“I heard Tom Lee ( @fundstrat ) describe the @circle IPO as the ChatGPT moment. Before, we were spitting in the wind with institutional investors. Now they’re finally studying crypto hard because you cannot miss the equivalent of AI and crypto together.”@CathieDWood of @ARKInvest calling crypto's ChatGPT moment: ...

The Stablecoin King SpeaksTether’s $156B lead makes it the clear #1. But with Circle’s stock hitting $60B post-IPO and the GENIUS Act progressing in Congress, the spotlight on stablecoins has never been brighter.We sat down with Tether CEO @paoloardoino to unpack what’s coming next.👇~~ Interview recap by @wmpeaster ~~1️⃣ Massive ProfitsAccording to Ardoino, Tether made a whopping $13.7 billion in profits last year.That places Tether among the most profitable companies in the world, outperforming TradFi gian ...

Stablecoin Definition and Types - Stablecoins are tokens minted on-chain pegged to a dollar value, leveraging blockchain benefits without the volatility of cryptocurrencies like Bitcoin [4] - There are two main types: reserve-backed stablecoins (e.g., Circle, USDT) with claims to underlying reserves, and collateralized debt positions (e.g., DAI) requiring over-collateralization [5] Market Dynamics and Dominance - Stablecoins reinforce the US dollar's dominance, as Bitcoin and Ether are often quoted in USD-denominated stablecoins, creating demand [7] - Tether and Circle dominate the market with approximately 85% market share, with Tether having a market cap of about 160 billion and Circle around 60 billion [10] - Circle is more regulated, especially with its IPO and the Genius Act in the US, while Tether operates overseas with a different user base and is not fully backed by Treasury bills or cash [11] Use Cases and Adoption - Stablecoin usage has expanded beyond speculation, with real adoption in emerging markets as a store of value and for commerce [7][8] - Stablecoins can provide financial infrastructure to regions lacking formal property rights, enabling financial transactions via smartphones [21] Business Model and Revenue Streams - The primary business model involves reserve backing, where issuers earn revenue from yield-bearing T-bills in their reserves [26] - Additional revenue streams include transaction fees, redemption fees, and tokenized money market (USDYC) take rates [26][29] - Circle is developing a Circle Payment Network (CPN) for cross-border payments with compliance modules, targeting financial institutions and fintech companies [29][30] Future Trends and Convergence - Stablecoins are likely to be the rails for AI agent transactions due to their programmability, finality, and digitally native nature [33][36] - The Genius Act may prevent big tech companies from launching their own stablecoins [15] - The total stablecoin supply is projected to reach approximately 1.4% to 1.5% trillion in the next 5 years, indicating exponential growth from the current 250 billion [45] Risks and Concerns - Risks include the potential for de-pegging and liquidity issues, as seen during the Silicon Valley Bank crisis when USDC de-pegged to 85 cents [38] - Privacy is a concern, as stablecoin transactions on blockchain rails are not fully private, and Circle can freeze accounts for illicit activities [40][41]

Hi everyone, my name is Lorenzo Valente. I'm the head of research uh of digital assets at Arc Invest. We have just published our latest blog on stable coins.uh with the circle IPO this week uh and the supply almost hitting 250 billion, we've published uh this research blog where we go over uh dollar dominance overseas uh why we think you know both tether circle and the broader digital uh the stable coin complex are going to be one of the biggest allies of the US government going forward. And we also talk ab ...

Group 1: Block Trades - Kinetik Holdings executed a block trade managed by Goldman Sachs, priced at $44.40 for 4.3 million shares [1] - Pagaya completed a block trade managed by Morgan Stanley, priced at $17.25 for 2.04 million shares [2] - Telus International's block trade was also managed by Morgan Stanley, priced at $2.75 for 3.3 million shares [3] Group 2: IPOs and Secondary Offerings - Circle is preparing for an IPO with multiple managers including JPMorgan, Citi, and Goldman Sachs, priced at $31.00 for 34 million shares [4] - Bitmine Immersion Technologies is conducting a secondary offering managed by ThinkEquity, priced at $8.00 for 2.25 million shares [5] - Cibus is involved in a spot secondary offering managed by Alliance Global Partners, priced at $1.75 for 15.71 million shares [6]

Group 1 - Circle, a major issuer of USDC stablecoin, closed its first trading day at $83.23 per share, representing a 168% increase from its IPO price of $31 [1] - The strong performance of Circle's IPO may influence institutional investors to set higher IPO prices for upcoming listings, including Omada Health and Klarna [2] - Circle's initial market value was set at $6.1 billion based on its IPO price, which was lower than its last private market valuation of $7.7 billion from April 2021; however, its market capitalization rose to $16.7 billion by the end of trading [3] Group 2 - Circle's IPO success follows a trend of companies pricing their IPOs below previous private market highs, which may not deter startups from going public [4] - This IPO marks Circle's second attempt to go public, having previously planned a SPAC merger in 2022 at a $9 billion valuation [4] - Major shareholders of Circle include General Catalyst and IDG Capital, holding approximately 8.9% and 8.8% of shares respectively, along with other significant venture investors [6]