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'Cranky old man of stablecoins' Kevin Lehtiniitty warns of Circle's costly path to IPO amid shrinking profits

2025-04-03 22:07

Borderless CEO Kevin Lehtiniitty argues that Circle’s position as the second-largest stablecoin issuer is not secure, largely because the market is becoming saturated and commoditized. Circle filed an S-1 to go public on Tuesday, giving industry observers insight into the firm’s profitability.

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Today 2025-04-04

15:45

Gold-Backed Cryptocurrencies Retreat From All-Time Highs Amid Stock-Market Rout

The precious metal initially rallied after Trump unveiled reciprocal tariffs, but has since joined the wider market sell-off.

15:44

Powell: Progress towards achieving the 2% inflation target has slowed down

According to a report by Jin Shi, Federal Reserve Chairman Powell gave a speech on the economic outlook, stating that progress towards achieving our 2% inflation target has slowed down recently. In the 12 months ending in February, PCE total prices increased by 2.5%. Core PCE prices, excluding volatile food and energy categories, increased by 2.8%. Looking ahead, higher tariffs will play a role in our economy and may increase inflation in the coming quarters. From most indicators, long-term inflation expectations (inflation expectations for the next few years) remain well anchored and aligned with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to our target of 2%.

15:40

Lens Chain mainnet officially launched

BlockBeats News: On April 4th, the Layer 2 SocialFi blockchain Lens Chain announced its official launch on the mainnet. BlockBeats previously reported that on February 26th, the social protocol Lens Protocol announced that it had migrated to Lens Chain. Through collaboration with ZKSync, the Lens team developed a migration solution to maintain maximum data integrity. The migration successfully transferred 650000 user accounts and their digital identities, 28 million follower connections, social graphs, and 360 applications.

15:23

Trump calls on Federal Reserve Chairman Powell to cut interest rates as soon as possible

According to a report by Golden Ten, Trump called on Federal Reserve Chairman Powell to cut interest rates as soon as possible. Now is the best time to cut interest rates, and he believes that Powell "always acts too slowly" and urges Powell to "stop political manipulation".

15:16

Swedish payment giant Klarna suspends IPO after Trump levies tariffs

According to market news, Swedish payment giant KLARNA has suspended its IPO after Trump imposed tariffs. Previously, Klarna sought to raise at least $1 billion in a US IPO and plans to publicly submit the application as early as next week..