$CRCL 今天新高了,本来是皆大欢喜的事情。结果打开群竟然看到群友在狠狠做空🤡 Circle背后的故事最近推荐聆听 @fishkiller 的web3 101 和硅谷101合作的播客 里面提到了很多细节,包括Circle的历史,IPO的细节和未来稳定币的格局。 1. Circle 的前世今生 最初是加密支付 & 钱包服务;2018 年耗资数亿美元收购 Poloniex,布局交易所与 OTC。 2019 年熊市中濒临破产,卖掉 Poloniex 给孙宇晨,壮士断腕只保留 USDC 发行,与 Coinbase 共建 Centre 联盟。 2022 年 8 月,以约 2.1 亿美元回购 Coinbase 在 Centre 中的 50% 股权,锁定未来 USDC 收益分成 50% 的长期协议。 2. USDC 的跌宕起伏 凭借 Coinbase 渠道分销快速扩容;2023 年 SVB 倒闭时,流通量从约 470 亿美元骤降 30%,价格一度抛锚至 0.92 美元。 事后将大部分储备迁往纽约梅隆托管,并引入贝莱德管理协议,迄今 USDC 发行规模已重回 600+ 亿美元,稳坐市场第二把交椅。 3. 新法案与行业博弈 刚通过的“天才法案”(Genius Act)禁止稳定币发行商名义上直接派息,以遏制恶意利率战。 Circle 与 Coinbase 通过分销费结构或可曲线绕开限制;Tether 也在加速合规化,正抱紧美国商务部长家族与软银系资源;另一边,Binance + CZ、特朗普女婿 & 中东财团正合推 USD 1。 $Coin 今天也是应声大涨。Base系龙头如 $AERO 值得后续继续关注。
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