锦秀山河

(Why did I go all in on CRCL?)
[202512.3, CRCL 78]
1. In the future, there are only three businesses in the cryptocurrency world.
btc, expansion and trading of stablecoins.
BTC and trading do not need to be elaborated; everyone understands.
Stablecoins are the strongest weapon in the cryptocurrency world, backed by America's debt resolution, a new digital dollar order, a grand chess game.
2. First, define the quality.
Stablecoins are a good business, the best business in the world.
Bitcoin is humanity's first mastery of private property.
Regulatory stablecoins are the first grassroots sharing of minting rights.
Printing money, collecting interest globally, simple and brutal.
But why CRCL? How about USDT?
3. USDT does not comply and cannot comply, nor does it need to comply.

Multiple articles related to the US stock market and everything on-chain
Discussion on the impact of everything on-chain on stablecoins and thoughts on buying $CRCL
Although the recent market conditions are uncertain, there is a subtle feeling that the third wave after blockchain and AI is everything on-chain in the US stock market. If compliant stablecoins like USDC can maintain the current trend after going on-chain, they will reach a scale of trillions, with an annual income of about $30 billion. Considering the leaders and monopolies, whether optimistic, neutral, or pessimistic, one can roughly conclude that the current market value of over $10 billion is still acceptable. If there is a market below $5 billion, it would be no different than buying BTC below $1000.

Expectations are for a 25 basis point rate cut; will it exceed expectations with a stronger rate cut or will it unexpectedly not cut rates?

Interest rate cut by the US dollar -> More money entering the market -> Asset appreciation.
Interest rate cut by the US dollar -> Lower financing costs of the US dollar -> Asset appreciation.

The Federal Reserve officially ends QT, BTC breaks 89000

What is QT?
QT (Quantitative Tightening) is when the Federal Reserve pulls back money through a series of policies, making the money in the market less and assets more likely to depreciate.

What does QT stopping mean?
The Federal Reserve no longer drains liquidity, which reduces funding pressure in the market and will stimulate the stock and cryptocurrency markets to rise.

Does the end of QT mean the beginning of QE?

Chairman of the U.S. Securities and Exchange Commission Paul Atkins recently stated, "All U.S. markets will achieve on-chain trading within two years."
If this step is realized, will USDC become the main medium of exchange?
If so, what impact will it have on the scale of USDC?
Thoughts
Statement verification based on recent reports, the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, did indeed state in a recent public appearance that the U.S. financial system could transition to tokenization and on-chain settlement "within a few years" (specifically mentioning "within two years"), which will enable all U.S. markets to achieve on-chain trading.

As the 'first domestic GPU stock', Moore Threads ignited market enthusiasm with an astonishing rise on its debut in the Sci-Tech Innovation Board. This not only directly affirms its technological scarcity but also highlights the market's strong optimism for the prospects of domestic high-end computing power chips in the wave of artificial intelligence.
On December 5th, Moore Threads officially landed on the Sci-Tech Innovation Board, with an opening price of 650 yuan, a staggering increase of 468.78% compared to the issue price of 114.28 yuan. The intraday high reached 688 yuan, with a rise of 502%, and its market value once exceeded 270 billion yuan. Based on the opening price, investors holding one lot (500 shares) have seen a floating profit of over 280,000 yuan, making it one of the most profitable new stocks this year. As of the time of publication, the stock is reported at 590.59 yuan/share, with an increase of 416.79%.

Stripe has paid in USDC, allowing users to remit and pay across more than 150 countries globally, achieving costs much lower than before and enabling instant transactions.
He did not issue a stablecoin like PAYPAL; in fact, PAYPAL is currently in a dilemma. PYUSD is only usable within the system, and to expand its adoption, it has to continuously burn money for subsidies.
1. The trend is to put US stocks on-chain and connect everything to the chain, while stablecoins are essential for trading pairs; to be precise, it is compliant stablecoins.
2. Many people do not understand the difficulty of issuing a stablecoin; it is not just about backing, but also involves establishing on-chain liquidity, integrating with various exchanges, network trust, and so on. The interest subsidies are the least noteworthy; what CRCL can do is not an advantage.

Announcement of the investigation results regarding employees' suspected violations

Dear Binance users and community members:

Thank you for the community's feedback and support and attention to Binance. On December 7, 2025, Binance's internal audit department received relevant reports alleging that Binance employees were suspected of using insider information to post on official social media and gain improper benefits. In response, the platform immediately initiated a comprehensive investigation. The investigation is still ongoing, and the following are the preliminary investigation results:

1. Survey Results
On December 7th at 13:29 (UTC+8), the tokens issued on-chain were consistent with part of the text and images used in the tweet posted at 13:30 by the @BinanceFutures account. After verification, this behavior was confirmed as relevant employees suspected of using their position for personal gain, which has seriously violated the company's relevant regulations and professional conduct code.

Why does every interest rate hike by the yen lead to a decline in global risk assets? The largest arbitrage business in the world is yen arbitrage. For the past few decades, the yen has implemented zero or even negative interest rates, and global institutions have been taking advantage of the yen. They borrow yen to buy U.S. stocks or other risky investments to earn interest rate differentials. Therefore, as soon as the yen raises interest rates, borrowing costs increase, interest rate differentials disappear, and institutions are forced to sell off risk assets to repay yen loans, leading to a decline in global risk assets.

Japan's long-term government bond yields have risen to a new high, which is not the 'yen interest rate hike' that everyone previously anticipated. This is the market's 'preemptive' action ahead of the upcoming yen interest rate hike. The 'yen interest rate hike' may raise the interest rate from 0.5% to 0.75% during the Bank of Japan meeting on December 18-19.

The yen interest rate hike will lead to a decline in global capital (the reasons can be seen in the post cited below).

Currently, the expectation of interest rate hikes has basically been priced in by the market (decline). If the interest rate hike does not occur as expected, the market may reverse.

1. The profits of CRCL need to be distributed, so are they not worth mentioning?

The early promotion costs do not necessarily imply that it is always a high-cost industry. If network effects are achieved and user mindset can be established, then such costs are not a problem, no matter how high they are.
The stablecoin track that CRCL is in is a winner-takes-all situation; whoever has a larger scale will ultimately have the power to speak.

The correct approach for CRCL is to continuously distribute profits. One can pay attention to the growth rate of USDC on CMC, whether it be over the past year, month, or week, the growth rate is higher than that of USDT. This indicates that the money is being spent well and wisely, which is the right thing and the right trend.

Because of the experience of taking the small霸王 game console from 0 to the national number one
Duang Yongping recognized the power of games very early
Therefore, facing delisting, NetEase turned to gaming, which he saw most accurately
Because its subsidiaries OPPO and VIVO have a deep understanding of mobile phones
So he can accurately predict Apple
Similarly, to understand CRCL, one must likely understand both the US stock market and the cryptocurrency space, and also have an idea of what the cryptocurrency space will look like in 10 years
In the past year
USDT increased by 51B, reaching 184B
USDC increased by 37B, reaching 76B
In 26 years, with the implementation of the bill, the scale of USDC will exceed that of USDT
Therefore, victory has always belonged to those who dare to buy almost.

If you are strong yourself, you will appreciate the strong when you see them.
If you are weak, seeing the strong will leave you with only jealousy, slander, and insults.
Carefully observe that the vast majority of people in this world are weak.
For things that cannot be confirmed as facts, which version you choose depends on whether you want to be strong or weak.

The Phnom Penh Story of Huiwang: "Cambodia's Alipay" Dies Last Night

文 | Sleepy.txt

Phnom Penh, December 1, 2025.

The winds along the Mekong River remain humid and hot, but for the hundreds of thousands of Chinese living there, this winter is much colder than in previous years.

This day is destined to be etched into the collective memory of Cambodian Chinese businesspeople.

Early morning on Sihanoukville Boulevard. The Huawang headquarters building, once considered a "sleepless" financial icon, suddenly lost its heartbeat overnight. The roar of armored trucks coming and going was gone, replaced by a cold "Notice of Suspension of Cash Withdrawals" pasted on the glass door, and hundreds of Asian faces stiffening with fear in front of the gate.