arguably this is a major win for $HYPE i believe we are underestimating the effects that USDC as the treasury deployer would bring to the HL eco this is much more bullish than most would realize tldr, never short $HYPE, and today its wins on 4 fronts: - coinbase bought $20m of $HYPE over the last week, and bought $5m more today and staked all of it - @circle USDC officially becomes the treasury deployer and will see ~$150m in interest income on HL - HL wins with more trades on $CBRS as its ipo today is free money (right @Eli5defi ?) - the launch of $CBRS on @tradexyz showcases team execution and immaculate time to market let me elaborate below why these are are HUGE catalyst and how with an A team onboard, would superceed what many others would have achieved 👇 1) if you have noticed, many huge pre-ipo platforms and CEXes have mainly offered companies like @SpaceX, @OpenAI, @AnthropicAI. however @tradexyz chose to launch $CBRS first, because it wants to signal that (i) it understands the market demands and trends, (ii) proven itself to be a leader in this field of pre-ipo companies showing trading volume and OI far exceeding pre-IPO contracts on other platforms (Iii) as a first mover to set the benchmark for in providing pricing references for U.S. stock IPOs ahead of their listings (iv) lowers the barriers to entry to participating in US stock IPO 2) @HyperliquidX would signifcantly benefit from the contribution of yields by Circle's US treasury. yield generated from USDC, was previously accrued to Coinbase and $CRCL and now as it becomes the official treasury deployer, it now flows to @HyperliquidX. - the current USDC supply on HL is ~$5.5B - short term US Treasury yields around 2.7% to 3.2% - total annual interest income is about $152 to $176m dollars 90% of these yields are estimated to be pass to the HL eco and this results in more revenue > more buybacks > higher $HYPE