The Valley After the Peak: Why Circle’s USDC Empire Faces a Covenant Crisis
We built not for the peak, but for the valley. When Heath Tarbert, Circle’s...
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Fear
Market Sentiment
Block reward reduced to 3.125 BTC
Team and early investor shares released
Circulating supply increases by about 2%
92 million ARB released
Independent validator client goes live on mainnet
Block reward halving event
Raises validator limit and account abstraction
Improves data availability sampling efficiency
Bitcoin Season
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