Stablecoins at Scale: Circle’s IPO, Stablecoin Legislation, and Competing With Banks | Roundup
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Now if I was Jeremy Lehr, is there a period of time where we could have launched a token and had it been a decentralized protocol? I think the answer is definitely yes. Now would it be Circle today and would it be USDC today? Probably not. Would you be able to have $45,000,000,000, of market cap of your stablecoin? Probably not. Would you be able to own tens of billions of dollars of of T bills? Definitely not. Yeah. You know, the entire business is different. So it's kind of like Yeah. If we go back and say, okay. Could what what if Tesla made a phone instead of cars? It's like, well, I don't
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two best friends.
Holding it down, baby. Holding down the fort. Hey. Happy Liberation Day, to
all of us
to celebrate. We're,
we're g plus one. Yeah. We're feeling liberated.
Yeah. I mean, it's been pretty interesting. I think people have just consistently underestimated Trump's propensity to do what he clearly telegraphed that he was gonna do while he was on the campaign trail, early days in office. You know? He's kinda doing what he said he was gonna do.
That that is definitely true. I think well, it's interesting. If you watch kind of, like, the market's reaction to the actual conference yesterday Mhmm. What was first said was, okay. We're gonna do 25% auto tariffs. And I was like, oh, okay. That's it. Great. Market rips. And and then he pulls out the board, and it's like, oh, wait. There's more. And it's like market drops. Yeah. Yeah. Look. I mean, look. I I think broadly, like, he is saying what he said he was gonna he is doing what he said he was gonna do. And, I I mean, look. I I have a I studied economics in college. Tariffs are not good
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