Circle’s third-quarter earnings report is out: net income of $226 million, revenue of $865 million, and USDC on-chain transaction volume up 49% to $13.9 trillion—but the same report also says it’s cutting 5% of its workforce.
Whether the issuer is making money and whether the coins I hold are stable are two different things. When I receive USDC now, my first reaction isn’t to check how much it’s gone up. I open the currency details page in PayAll and check who the issuer is, whether it’s pegged to the U.S. dollar or another currency, and whether the redemption information and supported chains look right. Then I check for any unusual depeg alerts. Good-looking numbers are the company’s concern; whether it holds its peg and can be redeemed—that’s what matters to me.
$USDC #Stablecoin
Whether the issuer is making money and whether the coins I hold are stable are two different things. When I receive USDC now, my first reaction isn’t to check how much it’s gone up. I open the currency details page in PayAll and check who the issuer is, whether it’s pegged to the U.S. dollar or another currency, and whether the redemption information and supported chains look right. Then I check for any unusual depeg alerts. Good-looking numbers are the company’s concern; whether it holds its peg and can be redeemed—that’s what matters to me.
$USDC #Stablecoin