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weimax
@weimax
Circle Circle is currently grossly overvalued. But definitely don't short Circle! The IPO will rip short sellers to shreds. If you think the Circle/Coinbase ratio is wrong, maybe you should buy Coinbase. Tether has proven that an on-chain bank that only holds people's money and allows them to transfer it can be the most profitable financial institution per capita ever. Stablecoins will eventually be adopted in a limited form in traditional banks. New stablecoin issuers are in a tough position because of the lack of distribution channels. circle pays 50 percent of its net interest income to Coinbase in exchange for Coinbase's distribution throughout the network.com/circle.
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