Circle CEO just threw shade at Open USD's model 🎯
Jeremy Allaire calling out the economics: unlimited free minting + giving away basically all reserve income to partners = infrastructure death spiral
Translation: You can't build sustainable stablecoin rails when you're bleeding revenue to appease partners. Someone's gotta pay for the pipes.
This is the stablecoin war heating up. $USDC defending its moat while new players try to undercut on fees. Classic race to the bottom vs. quality play.
Who wins? The one that doesn't collapse from unsustainable tokenomics.
Jeremy Allaire calling out the economics: unlimited free minting + giving away basically all reserve income to partners = infrastructure death spiral
Translation: You can't build sustainable stablecoin rails when you're bleeding revenue to appease partners. Someone's gotta pay for the pipes.
This is the stablecoin war heating up. $USDC defending its moat while new players try to undercut on fees. Classic race to the bottom vs. quality play.
Who wins? The one that doesn't collapse from unsustainable tokenomics.