Arthur Hayes Predicts Rising Circle Stock Despite Warning of a Stablecoin Speculative Bubble

On the 17th, BitMEX founder Arthur Hayes published a blog post warning of an impending bubble in the stablecoin market, triggered by Circle's IPO. He analyzed that the fervor for investments is overheating and expanding the market. Hayes first pointed out that the most crucial aspect for new stablecoin issuers is securing distribution channels. He emphasized that success is challenging without the networks of major cryptocurrency exchanges, social media companies, and banks. Furthermore, as the only stablecoin company currently listed, Circle has been highlighted as a successful example in the industry, leveraging its long-standing experience to secure distribution channels. Indeed, Circle...