Coinbase 投資 Circle，USDC 治理重組

以市值計算第二大穩定幣 USDC 正在醞釀重大變化。 USDC 的發行人 Circle 將接手即將解散的 Center Consortium 的所有治理責任。此次重組是在 SEC 對 USDC 最大平台 Coinbase 提起訴訟之後進行的，旨在將該交易所歸類為未註冊的證券交易所。 USDC 的市值大幅下跌，目前為 $26B，比去年 7 月的峰值 $56B 下跌了 53%。

USDC Governance Restructured, Coinbase Acquires Equity Stake in Circle

USDC治理重組，Coinbase收購Circle股權

In a significant development within the stablecoin landscape, Centre Consortium, the governing body overseeing the issuance and operations of USDC, the second-largest stablecoin by market capitalization, is set to dissolve.

作為穩定幣領域的一項重大發展，負責監督市值第二大穩定幣 USDC 發行和營運的管理機構 Center Consortium 即將解散。

On August 21, Centre Consortium, a joint venture between Circle and Coinbase, the leading U.S. cryptocurrency exchange, announced its impending dissolution. Coinbase will acquire an equity stake in Circle, which will assume all responsibilities previously held by Centre.

8 月 21 日，Circle 與美國領先加密貨幣交易所 Coinbase 的合資企業 Center Consortium 宣布即將解散。 Coinbase 將收購 Circle 的股權，後者將承擔先前由 Centre 承擔的所有責任。

This restructuring follows growing regulatory clarity for stablecoins both domestically and globally, rendering the need for a separate governance body redundant, as stated in the announcement. Circle will remain the issuer of USDC, bringing all governance and operations in-house.

如公告所述，此次重組是在國內和全球對穩定幣的監管日益明確之後進行的，這使得建立獨立治理機構的必要性變得多餘。 Circle 仍將是 USDC 的發行人，將所有治理和營運納入內部。

Under the new arrangement, Coinbase and Circle will continue to share revenue generated from USDC's reserve assets. Interest earnings will be apportioned based on the amount of USDC held on each platform, with profits derived from broader distribution and usage of USDC split evenly between the two companies.

根據新安排，Coinbase 和 Circle 將繼續分享 USDC 儲備資產產生的收入。利息收入將根據每個平台持有的 USDC 數量進行分配，USDC 更廣泛的分配和使用所產生的利潤由兩家公司平均分配。

This restructuring occurs shortly after Coinbase initiated legal proceedings to dismiss a lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC) in June. The agency alleges that Coinbase operated as an unlicensed securities exchange, a claim that Coinbase has vowed to contest. The case is seen as a potential catalyst for much-needed regulatory guidance for U.S.-based firms involved in the crypto sector.

此次重組是在 Coinbase 啟動法律程序以駁回美國證券交易委員會 (SEC) 6 月對其提起的訴訟後不久進行的。該機構聲稱 Coinbase 是一家未經許可的證券交易所，Coinbase 已發誓要對此提出異議。該案被視為對涉足加密行業的美國公司急需的監管指導的潛在催化劑。

In April, Coinbase filed a separate lawsuit against the SEC for failing to provide clear guidelines for the web3 industry despite a formal request for public consultation.

今年 4 月，Coinbase 對 SEC 提起了單獨訴訟，稱其儘管正式請求公眾諮詢，但未能為 web3 行業提供明確的指導方針。

USDC Market Trends and Expansion Plans

USDC 市場趨勢和擴張計劃

The restructuring news coincides with a sustained decline in USDC's market capitalization. According to CoinGecko, the stablecoin's supply has fallen 53% since peaking at $56 billion in July 2022, currently standing at $26 billion.

這項重組消息恰逢 USDC 市值持續下跌。據 CoinGecko 稱，自 2022 年 7 月達到峰值 560 億美元以來，穩定幣的供應量已下降 53%，目前為 260 億美元。

Despite this downtrend, Circle has announced plans to expand USDC's presence across multiple blockchains. Between September and October, USDC is expected to launch on six new networks, bringing the total number of chains offering native USDC support to 15.

儘管出現這種下降趨勢，Circle 仍宣布計劃擴大 USDC 在多個區塊鏈上的影響力。 9 月至 10 月期間，USDC 預計將在 6 個新網路上推出，使提供原生 USDC 支援的鏈總數達到 15 個。

While Circle has not disclosed the names of these new chains, the firm previously announced intentions to deploy USDC on Arbitrum, Optimism, Polkadot, Cosmos, and Near. To date, only Arbitrum has been confirmed to host native USDC.

雖然 Circle 尚未透露這些新鏈的名稱，但該公司先前曾宣布打算在 Arbitrum、Optimism、Polkadot、Cosmos 和 Near 上部署 USDC。迄今為止，只有 Arbitrum 已被確認託管本地 USDC。

Coinbase's recently launched Ethereum Layer 2 network, Base, is also a potential contender to host native USDC.

Coinbase 最近推出的以太坊第 2 層網路 Base 也是託管原生 USDC 的潛在競爭者。

The restructuring of USDC governance and expansion onto new blockchains reflects the evolving landscape of the stablecoin industry as it navigates regulatory challenges and seeks to broaden its reach within the decentralized finance ecosystem.

USDC 治理的重組和向新區塊鏈的擴張反映了穩定幣行業在應對監管挑戰並尋求擴大其在去中心化金融生態系統中的影響力方面不斷變化的格局。