Arthur Hayes警告Circle USDC Stablecoin的未來

BITMEX的聯合創始人，在加密市場中的長期聲音Arthur Hayes向Circle USDC的未來發出了警告。

Arthur Hayes, the co-founder of BitMEX and a voice frequently heard in crypto, had some advice for Circle. Reacting to reports that Wall Street’s biggest banks are teaming up for a stablecoin initiative, Hayes wrote, “Bye bye Circle. Thanks for playing.”

Bitmex的聯合創始人Arthur Hayes和Crypto中經常聽到的聲音對Circle有一些建議。海耶斯（Hayes）對華爾街最大的銀行共同努力的報導說：“再見。

This characteristically sarcastic statement from Hayes throws a harsh spotlight on a major realignment brewing within the stablecoin space; one that could soon pit legacy finance heavyweights directly against the very crypto-native players that helped bring stablecoins into the mainstream.

海耶斯（Hayes）的這種特徵性的諷刺性陳述使stablecoin空間內的重大重新調整釀造的苛刻聚光燈使人們變得越來越焦點。很快就可以直接與非常加密的本地玩家進行重量級儲物融資，這有助於將Stablecoins帶入主流。

Bye bye Circle. Thanks for playing.https://t.co/LmFPrv6KZK

再見圈子。感謝您玩

According to reports, the titans of traditional finance – JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC) – are exploring the development of a jointly issued stablecoin. The timing is no coincidence as the GENIUS Act, a bipartisan bill setting regulatory standards for stablecoins, is nearing passage in the United States Senate.

據報導，傳統金融的巨人 - 摩根大通（NYSE：JPM），美國銀行（紐約證券交易所：BAC），花旗集團（NYSE：C）和富國銀行（NYSE：WFC） - 正在探索共同發行的Stablecoin的發展。時間安排並非偶然，因為《天才法》是一項穩定法案的法案規定監管標準，該法案在美國參議院即將通過。

The legislation would establish clear guidelines for both banks and non-bank issuers while restricting stablecoin issuance by public companies outside the financial sector. The banks’ proposed venture is still in the conceptual phase, but their entry could fundamentally alter the existing dynamics of the stablecoin market.

該立法將為銀行和非銀行發行人制定明確的指導方針，同時限制金融部門以外的上市公司發行的穩定發行。銀行提議的合資企業仍處於概念階段，但他們的進入可以從根本上改變Stablecoin市場的現有動態。

Related: Ripple-Backed USDB Stablecoin Goes Live on XRPL for Cross-Border Payments in Latin America

相關：波紋支持的USDB Stablecoin在XRPL上直播拉丁美洲的跨境支付

By creating a fully compliant, bank-backed stablecoin designed for efficiency in cross-ערבת transactions and faster settlements, Wall Street could appeal to regulators and corporations wary of the perceived risks of current market leaders like USDC (Circle) and USDT (Tether).

通過創建一個完全合規，支持銀行支持的Stablecoin，旨在促進交易和更快的定居點的效率，華爾街可以吸引監管機構和公司對當前市場領導者（例如USDC（Circle）和USDT（USDT（Tether））的風險保持警惕。

Hayes: Bank-Backed Coins Could Eclipse Crypto-Native Issuers Like Circle

海耶斯：銀行支持的硬幣可以蝕過加密本地發行人

Arthur Hayes’s pointed remark reflects more than personal opinion—it echoes growing concern in the crypto community that decentralized pioneers like Circle may be eclipsed by well-capitalized, regulation-savvy institutions.

亞瑟·海斯（Arthur Hayes）的言論不僅反映了個人意見，而且在加密貨幣社區中越來越關注的是，諸如Circle之類的分散的先驅者可能會被精通，精通法規的機構所黯然失色。

Circle, which issues the USDC stablecoin, is reportedly in sale discussions with Coinbase (NASDAQ:COIN) and Ripple. This coincides with USDC’s slight depegging—a slip to $0.9987—likely caused by market unease surrounding the growing momentum behind Wall Street’s stablecoin plans.

據報導，發行USDC Stablecoin的Circle正在與Coinbase（NASDAQ：COIN）和Ripple進行銷售討論。這與USDC的輕微傾向（跌至0.9987美元）相吻合，這可能是由於在華爾街穩定計劃背後的勢頭不斷增長所致的市場不安所引起的。

Related: Trump-Linked USD1 Stablecoin Reaches $2.1 Billion Cap, Lands Binance Listing

相關：特朗普連接的USD1 Stablecoin達到21億美元的上限，Lands Binance上市

Hayes sees these signals as the beginning of an existential threat to Circle, whose dominance hinges on its vast integration across DeFi platforms and crypto-native liquidity networks.

海耶斯將這些信號視為對Circle的存在威脅的開始，其主導地位取決於其在Defi平台和加密本地流動性網絡之間的廣泛集成。

Notably, the transformation is already visible globally. Hong Kong just passed legislation mandating full-reserve backing and licensing for stablecoin issuers under its central bank’s oversight.

值得注意的是，轉換已經在全球可見。香港剛剛通過了立法，要求在中央銀行的監督下為Stablecoin發行人提供全力支持和許可。

The policy is being hailed as a global benchmark—and it aligns closely with the approach now being taken by US lawmakers through the GENIUS Act. For banks, this legislative clarity provides the green light to plunge into the stablecoin market with confidence.

該政策被譽為全球基準，並且與美國立法者通過《天才法》採取的方法緊密相吻合。對於銀行來說，這種立法清晰度為綠燈提供了充滿信心地進入Stablecoin市場的綠燈。