USDT USDC BUSD FDUSD PYUSD GUSD TUSD USDP DAI sUSD LUSD FRAX USDD USDe USD1 mUSD NET PYUSD0How many stablecoins are enough stablecoins? ...

Tether’s talks to raise $20 billion from investors — valuing the stablecoin issuer at $500 billion — redefines the scale of the industry. That’s according to Daniel Worsley, co-founder of crypto software company OneBalance, who told DL News that a successful raise would “reset expectations” for the entire stablecoin industry. “A $500 billion valuation not only dwarfs prior benchmarks but also overshadows the GDP of El Salvador — the country where Tether is headquartered,” Worsley said. The potential dea ...

When stablecoin issuer Circle recorded a $482 million loss in the second quarter, it sent the firm’s stock tumbling 15% in a single day. Despite the volatility, the USDC issuer still trades at a whopping $36 billion valuation, up 115% from its public offering price. So, what’s propping up Circle? Insatiable demand for stablecoins among Wall Street investors, according to Colin Butler, head of global financing at crypto treasury firm Mega Matrix. “Investors have an idea that this is a sector for exponen ...

Gate’s $GUSD surpassed $120M in mints just two weeks after launch.In today's article, we explore how GUSD’s auto-compounding model works and why @Gate’s stablecoin strategy is reshaping RWA adoption.Read the full guide 👇https://t.co/AZrva39zFW ...

Gate’s $GUSD surpassed $120M in mints just two weeks after launch.In today's article, we explore how GUSD’s auto-compounding model works and why @Gate’s stablecoin strategy is reshaping RWA adoption.Read the full guide 👇https://t.co/AZrva391Qo ...

Core Insights - The IPOs of Gemini and Figure represent significant advancements in the new financial revolution, with Gemini focusing on compliance in the crypto space and Figure aiming to transform the traditional credit market using blockchain technology [1][2] Group 1: Gemini - Gemini aims to be the trusted entry point for institutional investors in the crypto market, especially after the trust crisis following the FTX collapse [3][6] - The company has established a strong competitive moat through its compliance credentials, including the BitLicense, which allows it to operate legally in New York and enhances the trust in its stablecoin GUSD [5][6] - Gemini's comprehensive ecosystem includes services like custody, lending, NFTs, and DeFi, positioning it as a reliable partner for institutional investors seeking security [6][14] - The company plans to raise $317 million through its IPO to support global expansion and technology upgrades, reinforcing its status as a compliant crypto financial gateway [6][14] Group 2: Figure - Figure targets the $10 trillion U.S. consumer credit market, utilizing blockchain technology to disrupt traditional banking and financial services [8][12] - The Provenance platform is a key technological asset for Figure, enabling the digitization of traditional financial products and improving transaction efficiency and cost [11][12] - As the first public company focused on Real-World Assets (RWA), Figure's IPO is valued at $3.3 billion, with plans to raise $526 million to enhance technology development and market expansion [12][14] - The company faces challenges in market education and regulatory compliance, which are critical for the acceptance of its blockchain-based financial solutions [12][14] Group 3: Investment Logic - Both Gemini and Figure are not merely following short-term trends but are building long-term competitive advantages based on compliance and technology [13][14] - Gemini's investment thesis is centered on the "legitimization of crypto finance," while Figure focuses on the "digitalization of trillion-dollar markets" [14] - The success of both companies could mirror that of Circle, which benefited from strong compliance and brand reputation, suggesting that Gemini and Figure also possess similar foundational strengths [14]

Core Viewpoint - The IPOs of Gemini and Figure represent a significant breakthrough in the new financial revolution, with Gemini focusing on compliance in the crypto space and Figure aiming to reshape the traditional credit market using blockchain technology [3][5][6]. Group 1: Gemini - Gemini aims to become the preferred choice for institutional investors by providing a secure and compliant entry into crypto trading and custody [7][10]. - The company's competitive advantage lies in its unmatched compliance credentials and brand trust, particularly in the wake of a trust crisis in the crypto industry [9][10]. - Gemini's IPO aims to raise $317 million, which will be used for global expansion and technology upgrades, reinforcing its position as a compliant entry point into crypto finance [10][19]. Group 2: Figure - Figure targets the $10 trillion U.S. consumer credit market, using blockchain technology to disrupt traditional banking and financial services [13][17]. - The Provenance platform is a key technological foundation for Figure, enabling the digitization of traditional financial products and significantly reducing transaction times and operational costs [16][17]. - Figure's IPO is valued at $3.3 billion, with a fundraising goal of $526 million to support technology development and market expansion [17][19]. Group 3: Investment Logic - Both companies are not merely following short-term trends but are based on profound insights into the future financial landscape, establishing long-term competitive barriers centered on compliance and technology [18][19]. - Gemini's investment logic is based on the "legitimization of crypto finance," while Figure's is focused on the "digitalization of a trillion-dollar market" [18][19].

“Obviously they are close” to the Trumps, said Markus Thielen, chief executive officer of 10x Research. “But I don’t see how that necessarily helps them. It’s primarily an exchange. For the exchange, you need to drive more volume.”The contrast between the public image and the corporate performance tells a broader story about the crypto world in the Trump era, when wealth and access have little to do with business fundamentals. Going public will test how long the two can remain disconnected, and whether the ...

Core Insights - The Winklevoss twins are leveraging their political connections with the "MAGA" movement to boost the valuation of their cryptocurrency exchange, Gemini, ahead of its IPO, despite the company facing significant financial losses [1][2][17] - Gemini's valuation is set at approximately $3.1 billion, which is less than half of its valuation during a funding round in 2021, highlighting a decline in market position compared to competitors like Coinbase [2][17] - The twins have shifted from Democratic donors to staunch supporters of Trump, significantly increasing their political contributions, including a $21 million Bitcoin donation to a pro-Trump political action committee [5][8] Company Performance - Gemini reported a net loss of $282.5 million in the first half of the year, nearly seven times the loss from the same period last year, indicating ongoing financial struggles [17] - The company has a market share of only 3% in the U.S. cryptocurrency trading market, which has remained low for most of the past three years [17][19] - Gemini's revenue primarily comes from trading fees, but it has expanded into NFTs, crypto-backed credit cards, and stablecoins, although its own stablecoin's market cap has nearly halved [17][19] IPO Details - The IPO is expected to raise up to $433 million, with a significant portion allocated to retail investors through platforms like Robinhood [2][21] - The twins hold approximately 97% of the voting rights in Gemini, which may raise questions about the IPO's purpose and whether it is primarily a liquidity event for existing owners [19][21] - Despite the company's poor performance metrics, the IPO has seen oversubscription, suggesting strong interest from investors [8][20] Market Context - The cryptocurrency market has been influenced by regulatory changes and the political climate, with the twins benefiting from favorable policies during the Trump administration [8][17] - Gemini's trading volume is significantly lower than that of competitors, with recent data showing it only trades 84 cryptocurrencies compared to Coinbase's 317 and Kraken's 495 [18][19] - The company's adherence to regulatory compliance may have hindered its growth compared to more aggressive competitors [18][19]