Circle Launches Bitcoin Collateralization on ARC; Coinbase Lobbies for Clarity Act
- Reports
- 2
- Developments
- 5
- Repetition
- 0%
New informationRepeats or wire copies
What happened
Circle launched cirBTC on the ARC network, allowing Bitcoin to serve as onchain collateral. Meanwhile, Coinbase opened US retail access to IPO allocations. The industry is also focused on the Clarity Act, with crypto firms actively lobbying for favorable legislation.
From econotimes.com, fool.com
Why it matters
Crypto companies, including Coinbase, Circle, and those involved in the Clarity Act push, are attempting to shift the legal and regulatory playing field. The ability of ARC to enable Bitcoin collateralization increases the utility of the asset within the broader crypto ecosystem.
From fool.com, econotimes.com
Who's involved
- BitcoinThe digital asset being held and utilized as onchain collateral.
- CircleDeveloped the ARC network and launched cirBTC, enabling Bitcoin collateralization.
- CoinbaseLobbying for the Clarity Act and expanding US retail access to IPO allocations.
- ARCThe infrastructure network that utilizes Bitcoin as collateral for loan products.
- American BitcoinA specialized mining and treasury company fundamentally dependent on Bitcoin's value.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CoinbaseSpeculative
Coinbase might increase revenue from IPO allocations by expanding US retail access.
How it developed
Newest first. Tap a step to see who reported it.ARC enables Bitcoin collateralization for loan products.1 source
- VIVA integrates stablecoins using Avalanche network. Major institutions are joining Arc as validators.Sub-event
- Procedural vote on the Digital Asset Market Clarity Act, coupled with market reactions from Goldman Sachs, affected Circle and Coinbase.Sub-event
- Coinbase and Circle are identified as equity proxies for U.S. crypto market-structure legislation amid legislative uncertainty.Sub-event
Coinbase lobbies for Clarity Act support; Circle builds on Arc; MicroStrategy holds largest BTC treasury.1 source
Keep exploring
The entities involved
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Bitcoin
digital cash system and associated currency
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Circle
peer-to-peer payments technology company
- Coinbase operates as a leading regulated crypto exchange, utilizing its Base Layer-2 network built on Ethereum, and shares revenue with Circle in the USDC ecosystem.
- Hana Bank is participating in a settlement network trial involving the Bank of Korea, while Binance announces a $100M investment to promote Circle's USDC.
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Coinbase
American company that operates a cryptocurrency exchange platform
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ARC
software
Nothing else this week.
Related events
- Circle is linked to broader crypto market trends, while Coinbase has heavy exposure to digital asset trading activity.
- Circle is building its own blockchain via Arc and testing stablecoin rails on Base, while facing market pressures regarding high distribution partner costs.
- Arc, the Layer-1 blockchain built by Circle, has entered into partnerships with DTCC and the world's largest asset manager, BlackRock.
- Industry leaders like Circle, Stripe, Robinhood, and Coinbase are exploring proprietary blockchain solutions to meet the demands of decentralized payments.
- Coinbase is listed on Nasdaq, while Circle's USDC funds a quarter of Coinbase's revenue. The Senate failed to pass the CLARITY Act, amidst FED rate impacts.