Circle CEO Responds to Competition Concerns Regarding OUSD: Stablecoins are Winner-Take-All! USDC's Decade-Long Network Effect Creates a Triple Moat
Related
NDV Founder: Closely monitoring Circle's pullback opportunities; stablecoin competition is beneficial for expanding the crypto market.
According to Odaily Odaily, Jason Huang, founder of NextGen Venture (NDV), stated that the firm had previously successfully issued an early warning of a potential pullback in Strategy (MSTR), and is now doing the opposite, adding Circle (CRCL) to its watchlist to look for opportunities when market sentiment is under pressure. Jason Huang analyzed that Circle's stock price fell by about 14% yesterday due to concerns about increased competition arising from the joint launch of OpenUSD by multiple financial institutions. However, this logic was misinterpreted by the market: the entry of large institutions will not shrink the stablecoin market size; on the contrary, it may expand the overall "pie." Currently, the total global stablecoin market capitalization is only about $317 billion, and the industry is still in its early growth stage. Historical experience shows that payment and financial projects jointly promoted by multiple parties often fail due to inconsistent incentives, such as Libra. Therefore, in the long run, it may not change the core competitive landscape. Jason Huang revealed that Circle has been included in the few tradable stablecoin-themed US stocks. Although he has not yet given a clear target price or an immediate plan to build a position, he said he will focus on tracking its quarterly performance and fundamental changes.
AI capital rotation, the full implementation of MiCA, and stablecoin competition are the focus of the market this week.
According to Mars Finance, on July 5th, discussions in the digital asset industry this week mainly revolved around AI, the EU's Crypto Asset Market Regulation Act (MiCA), stablecoins, and Bitcoin. Regarding AI, many industry insiders believe that current market funds are shifting from digital assets to AI infrastructure construction. In the future, the value of the AI industry will likely be captured more by application layer and infrastructure providers, rather than solely by large model developers. Furthermore, some believe that if the US government acquires a stake in OpenAI, it could further exacerbate the trend of AI industry consolidation. On the regulatory front, with the official end of the MiCA transition period, EU crypto asset service providers will need to obtain full MiCA licenses to continue operating. Industry insiders believe that regulatory compliance will gradually become a significant competitive advantage for European crypto payment and digital asset service providers. Regarding stablecoins, the industry continues to focus on the newly launched OpenUSD (OUSD). Analysts believe that its ecosystem network, involving over 140 institutions including Visa, Mastercard, Stripe, Coinbase, BlackRock, and BNY, is poised to challenge the existing stablecoin market structure, such as USDC, by leveraging its distribution advantages. However, some argue that OUSD still faces challenges such as liquidity cultivation and governance coordination. Regarding Bitcoin, market opinions are divided on the recent capital operations of Michael Saylor's Strategy. Some analysts believe the company's recent financing arrangements suggest it may still need to sell Bitcoin to meet future funding needs; others believe this move effectively alleviates market concerns about liquidity and default risk, constituting a proactive risk management measure.
Binance co-CEO responds to MiCA's new rules taking effect: Transition support will be provided to affected users.
Odaily Odaily reports that Binance Co-CEO Richard Teng responded to the EU's MiCA regulations taking effect, stating that Binance will continue to provide transition support to affected users, including providing follow-up procedures and alternative solutions to ensure asset security and service continuity. He also advised users to seek account support and assistance through official customer service channels. Richard Teng acknowledged that regulatory changes may bring some uncertainty and user inconvenience, and that Binance is currently maintaining close communication with regulators to ensure a responsible compliance transition.
Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
Circle launches Arc mainnet with USDC as native gas token
Circle’s Arc mainnet is live with USDC for transaction fees, support for more than 20 fiat stablecoins and links to over 20 blockchains.
Gate Founder Dr. Han: Gate's early completion of MiCA licensing will push the European crypto market towards fair competition.
According to ChainCatcher, CoinDesk reports that with the full implementation of the EU's Crypto Asset Market Regulation (MiCA), the European digital asset market has entered a new era of unified regulation. Regarding the impact of MiCA on the industry landscape, Gate founder and CEO Dr. Han stated in an interview that Gate began its European compliance preparations several years ago and completed its MiCA and Payment Institution (PI) license preparations ahead of schedule in 2025. He pointed out that the significance of MiCA lies not only in establishing a unified regulatory framework, but more importantly, in putting all market participants on a level playing field. "Only when all platforms adhere to the same rules can the industry truly compete around products, services, and user experience." He also stated that if unauthorized platforms continue to provide services to European users, a level playing field will remain a challenge, making effective regulatory enforcement equally crucial. Currently, Gate Europe is leveraging its MiCA and PI licenses to continuously improve its compliance system, risk management, and operational governance capabilities, and is continuously deepening its global compliance strategy. In addition to Europe, multiple Gate entities have completed relevant regulatory registrations, license applications, or obtained authorizations and approvals in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai. Through multi-regional regulatory approvals, Gate has solidified its global business foundation and continues to provide global users with safer, more transparent, and more efficient digital asset services. Looking ahead, Gate will continue to adhere to a parallel development strategy of compliance and innovation, promoting the long-term healthy development of the digital asset industry through superior product experiences and global service capabilities.