Recent private messages have asked me for my take on the news of CRCL executives selling shares. I’ve already written a lot about CRCL before, and while others might not be tired of hearing it, I certainly am—so I won’t respond further unless there’s a new logical point. I believe that when we look back at this crypto bull market at its peak, CRCL and stablecoins will seem like the “obvious opportunity we should’ve seen.” If you’re not bullish on stablecoins, you likely don’t truly understand the use cases and value of RWA. Forget payments, U.S. Treasuries, funds, forex, or even crypto-native growth areas like prediction markets and Perps. Just consider tokenization of U.S. equities alone: today, the total market cap of U.S. stocks is roughly $75 trillion. These assets currently sit idle in users’ Robinhood and other brokerage accounts. By tokenizing them on-chain, they can be collateralized, lent against, and leveraged through crypto’s DeFi infrastructure to unlock entirely new financial applications—where traditionally, investment banks handled product creation and matching. Now, it’s just a smart contract + frontend. Even if only 5% of U.S. equities are tokenized—ignoring derivatives and layered liquidity effects—the mere tokenization itself represents a $3.75 trillion增量, or 12 times the current total supply of stablecoins. Meanwhile, the market for U.S. equity tokenization is growing at double-digit rates monthly—demand is already validated. You must anchor your investment thesis to this dominant trend. Borrowed beliefs won’t help you hold through volatility. Moats, rate cut cycles, OUSD competition, executive sell-offs—all are noise. If these factors sway you, it likely means you lack strong conviction in the core thesis (ask your AI: what percentage of CRCL’s total shares did executives actually sell, and how? Compare that to Mag7, Tesla, Coinbase—it’ll quickly dispel the FUD).