The Quiet Analyst Who Predicted the Next Bear Run: Circle’s $5B Exit and the Illusion of Crypto Wealth
I’ve spent years parsing blockchain ledgers and regulatory filings—not tweets or TikTok rants. Circle’s IPO wasn’t a victory lap; it was a silent liquidation.
The $5.95 Billion Exit
On paper, Circle looked like the next PayPal. But inside the S-1? 19.2M shares sold by insiders—Jeremy Allaire, Sean Neville, Breyer Capital—cashied out \(5.95B at \)31/share. That’s not greed—it’s math.
The USDC Engine
USDC isn’t just pegged to USD; it’s collateralized liquidity infrastructure. 95% of revenue comes from reserve interest—BlackRock-managed funds earning yield on $60B+ in reserves. This is not speculation; it’s fiduciary architecture.
Two Wings, One Core
One core: Reserve income (interest). Two wings: Developer API fees (CCTP) and asset management via USYC fund (yes, they tokenized the reserve). Revenue streams are structural—not speculative.
The Great Divide
While insiders exited with billions, analysts on Seaport Research called it “the digital dollar” with a $235 target. Why? Because when regulation clears—from FINIUS Act to NY BitLicense—the only stablecoins that survive are those with transparency.
I didn’t predict this run because I loved crypto. I predicted it because I understood reserves don’t lie—and sentiment does.
CryptoSageNYC
Hot comment (4)
Bayar $5B cuma buat beli kopi? Circle keluar begitu besar tapi yang keluar malah uang nyasar—bukan profit, tapi likuidasi sunyi! USDC dikatakan pegged ke USD, tapi ternyata lebih mirip colokan likuiditas dari rezeki masjid daripada dompet digital. Ini bukan spekulasi… ini ibadah finansial! Kapan kita ngecek lagi? Coba tanya ke rekening: apakah kamu punya token atau cuma bawa kue lapis? 😅
Sino ba talaga ang nagpapalit ng USDC? Hindi yung crypto—yung reserve na ‘nakatago’ sa likod ng church! Circle’s IPO? Ayaw ko na ‘victory lap’—kundi silent liquidation na parang panaon sa Holy Week! 95% revenue? Yung interest natin ay ‘yield’… pero yung CEO nyo? Nakakabig ng $5.95B habang kumakain ng pizza sa Seaport Research. Paano ka mag-iisip kung ang stablecoin ay di lang pegged… kundi collateralized na may soul? 🤔 Kaya mo pa ba iwasan ang crypto kapag ang pera mo’y nasa ilalim ng ledger?
Вот он сказал: “Crypto — это не мемы, а молитва для бухгалтеров”. Circle вышел с $5.95 млрд — не победный марш, а тихая ликвидация. USDC привязан к доллару? Нет! Это цифровой храм с процентами по резервам — BlackRock зарабатывает на тишине. А кто ещё думает про TikTok? Пока другие гоняют за волатильностью — мы спокойно считаем резервы. Сколько вам надо? Достаточно знания… и один стулл.
ตอนนี้คนรวยในวงการคริปโตไม่ได้รวยจากหุ้น… แต่รวยจาก “ความเงียบ”! เหมือนพระสงฆ์ดื่มชาไทยขณะมอง K-line — มันไม่ใช่การพนัน มันคือ “สมดุลแห่งสำรอง”! USDC ไม่ใช่แค่เชื่อมกับดอลลาร์… มันคือ “โครงสร้างทางธรรมะของเงิน”! เดีฟี่ยังไง? ถ้าคุณไม่มีสต๊อกพอ… ก็เหมือนพยายามจะทำให้ชีวิตอยู่ในโลกที่ไม่มีคำว่า ‘กลัว’ — มีแต่ ‘สงบ’ 😌 ลองถามตัวเองว่า: คุณซื้อเพราะรัก…หรือเพราะเข้าใจสำรอง?
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