Arthur Hayes警告Circle USDC Stablecoin的未来

BITMEX的联合创始人，在加密市场中的长期声音Arthur Hayes向Circle USDC的未来发出了警告。

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的联合创始人Arthur Hayes和Crypto中经常听到的声音对Circle有一些建议。海耶斯（Hayes）对华尔街最大的银行共同努力的报道说：“再见。

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）的这种特征性的讽刺性陈述使stablecoin空间内的重大重新调整酿造的苛刻聚光灯使人们变得越来越焦点。很快就可以直接与非常加密的本地玩家进行重量级储物融资，这有助于将Stablecoins带入主流。

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

再见圈子。感谢您玩

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.

据报道，传统金融的巨人 - 摩根大通（NYSE：JPM），美国银行（纽约证券交易所：BAC），花旗集团（NYSE：C）和富国银行（NYSE：WFC） - 正在探索共同发行的Stablecoin的发展。时间安排并非偶然，因为《天才法》是一项稳定法案的法案规定监管标准，该法案在美国参议院即将通过。

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.

该立法将为银行和非银行发行人制定明确的指导方针，同时限制金融部门以外的上市公司发行的稳定发行。银行提议的合资企业仍处于概念阶段，但他们的进入可以从根本上改变Stablecoin市场的现有动态。

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

相关：波纹支持的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).

通过创建一个完全合规，支持银行支持的Stablecoin，旨在促进交易和更快的定居点的效率，华尔街可以吸引监管机构和公司对当前市场领导者（例如USDC（Circle）和USDT（USDT（Tether））的风险保持警惕。

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

海耶斯：银行支持的硬币可以蚀过加密本地发行人

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.

亚瑟·海斯（Arthur Hayes）的言论不仅反映了个人意见，而且在加密货币社区中越来越关注的是，诸如Circle之类的分散的先驱者可能会被精通，精通法规的机构所黯然失色。

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.

据报道，发行USDC Stablecoin的Circle正在与Coinbase（NASDAQ：COIN）和Ripple进行销售讨论。这与USDC的轻微倾向（跌至0.9987美元）相吻合，这可能是由于在华尔街稳定计划背后的势头不断增长所致的市场不安所引起的。

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

相关：特朗普连接的USD1 Stablecoin达到21亿美元的上限，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.

海耶斯将这些信号视为对Circle的存在威胁的开始，其主导地位取决于其在Defi平台和加密本地流动性网络之间的广泛集成。

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，转换已经在全球可见。香港刚刚通过了立法，要求在中央银行的监督下为Stablecoin发行人提供全力支持和许可。

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.

该政策被誉为全球基准，并且与美国立法者通过《天才法》采取的方法紧密相吻合。对于银行来说，这种立法清晰度为绿灯提供了充满信心地进入Stablecoin市场的绿灯。