The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
So let's get into it.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
Jeremy Fox Gein, welcome to The Rundown.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
It's great to be here, Zaid.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
I'm excited for today's conversation.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
You know, I was looking through your LinkedIn, like I do with a lot of our guests, and I saw that you've been the CFO of Circle for five plus years now.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
But you come from like a more of like a traditional background, right?
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
Like you got PwC on your resume, you got McKinsey.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
So I'm kind of curious, what attracted you to the stablecoin slash crypto space, you know, five plus years ago?
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
Yeah, I mean, that's true.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
And I mean, just looking at the adoption from Stablecoin specifically, it's been absolutely crazy.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
I'm just looking at from USDC, which is Circle Stablecoin, it's up, circulation's at $75 billion, which is up 72% year over year.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
So I'm kind of curious, like for Stablecoin specifically, who are your largest users and what are they using Stablecoins for right now?
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
That's very interesting.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
You laid out a lot of interesting things.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
And I think I can personally talk about two of those things, which is sending money internationally and then also like paying people internationally.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
So I've hired some contractors overseas.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
Sending money via USDC is just easy, fast, quick.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
And I just remember I have like these memories of, you know, my parents are immigrants from Pakistan and they would send money overseas.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
Like I'm talking in the 90s.
The Rundown
Circle CFO On Why Stablecoin Growth Is Defying the Crypto Bear Market
I remember having to go to the Western Union locations and having to like...