While business leaders showed cautious optimism at this year’s World Economic Forum (WEF) in Davos, Switzerland, the same sentiment wasn’t felt for crypto.
Compared to before, the once buzzy area of finance had a much smaller presence.
As our Jennifer Schonberger put it, “gone were the crypto houses every ten feet, bitcoin-themed pizza stalls and advertising from previous years.”
“I think regulated transparent infrastructure like ours is well-suited for this environment,” Jeremy Allaire, Circle co-founder and CEO which issues the stablecoin USDC told Yahoo Finance.
Circle, one of the few crypto firms present for the week, did offer some optimism. Though not regulated as a bank and having shuttered plans to go public via SPAC last year, Circle is still aiming to be a public company at some point in the future, Allaire said.
In the meantime, it represents 31% of crypto’s $136 billion stablecoin market, which many consider being essential to the industry’s less speculative future.
As Allaire told us, Circle carries a money transmitter license in almost every state. Its…