How do you envision the thesis changing if Circle is able to re-negotiate their USDC terms with COIN? I’m bullish on the company myself, having done my own DD here but see that being a possible risk. Especially as the economics currently heavily favor COIN (50/50 off platform 100% on platform)
Mgmt reiterated the contract renews in perpetuity but can see Circle pushing to change things.
king
thank you for reading!
Great read!
How do you envision the thesis changing if Circle is able to re-negotiate their USDC terms with COIN? I’m bullish on the company myself, having done my own DD here but see that being a possible risk. Especially as the economics currently heavily favor COIN (50/50 off platform 100% on platform)
Mgmt reiterated the contract renews in perpetuity but can see Circle pushing to change things.
These two are on a collision course it seems.
wildcard would be if they merged!