Zaid

Is there a certain point, I guess, can you can you can you point to something that like got everyone's attention, including people on Wall Street, Washington?

I mean, everyone started just kind of backing this, which doesn't ever happen anymore.

What do you think got everyone so excited about stable coins that they all passed the legislature?

Yeah, it was huge.

And I mean, the momentum is still, you know, that's still riding high today.

What I find to be most interesting is that despite like this mini bear market that we're in when it comes to the overall crypto markets, right, Bitcoin, Ethereum, Solana, they're all down compared to their all time highs.

You know, some are down more than 50 percent, but that hasn't impacted stable coin adoption.

In fact, stable coin adoption, according to your latest earnings, is just continuing to be strong.

I guess, do you think, do you worry about the overall sentiment in the crypto markets when it comes to Bitcoin and Ethereum and what those are doing and how that might ultimately impact stable coins at all?

Yeah, I mean, you know, I remember when Bitcoin, you know, I'm hearing about Bitcoin for a decade plus now, and everyone's like, oh, Bitcoin is a store of value, and you can use it to transfer money overseas and whatnot.

Well, then you realize, like, it's too volatile to really be a store of value.

And I always felt like crypto and Bitcoin were always like a...

they were like a solution looking for a problem.

And then I think the stable coins are an evolution of that where it's like, okay, well, a stable coin has all the benefits of being on the blockchain, you know, low transfer fees and all that good stuff.

Yet it's not volatile and you might not lose half your net worth, you know, overnight because of something, who knows, right?

So I think that's like a perfect evolution of just the crypto markets, you know, and then now we have stable coins and like people are like, oh, I can actually use this.

This is fantastic.

How do you see Circle benefiting from the rise of AI agents?

And I guess, yeah, can you talk more about that?

I mean, that's fascinating.