1 month ago
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Key Takeaways
- Circle CEO Jeremy Allaire publicly argued Open USD won’t dethrone USDC.
- He cites Artemis data putting USDC at 80% of on-chain dollar stablecoin volume.
- His sharpest point: consortium products have a “dismal” track record at scale.
- It’s the incumbent’s rebuttal, not neutral proof, and he has a clear stake.
Circle co-founder and CEO Jeremy Allaire, whose company issues USDC, laid out a methodical argument via post on X for why he isn’t worried, which is itself a signal that the launch registered as a genuine competitive event worth answering.
The Market Is Already Asking the Question
The timing tracks with the data. Per Santiment’s trending dashboard, the Open USD launch was one of crypto’s top trending stories, sitting alongside whale activity and MiCA licensing, with social volume spiking sharply and sent...
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