# Competition Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Competition", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

‘Attempts to hijack the CLARITY Act are shameful’: Trump advisor slams banks

White House advisor Patrick Witt criticizes the banking lobby for opposing the pro-innovation CLARITY Act, calling attempts to turn it into an anti-competition bill "shameful." The dispute centers on stablecoin rewards, which banks argue create an uneven playing field and risk deposit flight, potentially reducing bank lending. Stablecoin issuers view restrictions as a threat to their business model and cite competition with China's digital yuan. Lawmakers propose limiting types of stablecoin reward activities as a compromise, but the bill's future remains uncertain without resolution.

ambcrypto03/11 08:17

‘Attempts to hijack the CLARITY Act are shameful’: Trump advisor slams banks

ambcrypto03/11 08:17

OpenAI IPO Market Sounding Meets Cold Reception, How to Convince Investors with an $850 Billion Valuation?

Wall Street investment banks are conducting market soundings for a potential OpenAI IPO, but are encountering a cooler-than-expected reception from public market investors. OpenAI is currently raising funds at an $850 billion valuation, which represents a price-to-sales multiple of 28 times its projected 2026 revenue—far exceeding Nvidia's multiple of about 12. Key investor concerns include OpenAI's own projection that it will not be profitable until at least 2030, requiring continuous capital investment. Prominent investors, including Jim Chanos, question the high valuation, especially compared to profitable and dominant players like Nvidia. Additionally, the rise of well-funded competitor Anthropic, which has a lower projected cost structure and strong enterprise sales, is diverting investor attention and capital. Some investors have indicated they may short OpenAI stock upon its debut, betting that public markets will have limited patience for its long path to profitability.

比推03/10 12:48

OpenAI IPO Market Sounding Meets Cold Reception, How to Convince Investors with an $850 Billion Valuation?

比推03/10 12:48

After the Elevated Status of Stablecoins, Old Partners Circle and Stripe Compete for Each Other's Turf

Circle and Stripe, once complementary partners in the stablecoin ecosystem, are increasingly competing as their strategic expansions converge. Circle, the issuer of USDC, is moving beyond its role as a stablecoin provider by developing its own payment infrastructure, including the Arc blockchain and the Circle Payments Network (CPN), to capture more value from transaction flows. Meanwhile, Stripe, a global payment processor, is expanding downward into stablecoin infrastructure by acquiring Bridge (which recently received conditional approval for a trust bank charter) and investing in blockchain initiatives like Tempo. This shift reflects a broader trend where stablecoin players are integrating vertically to control more of the financial stack, transforming from asset issuers to infrastructure builders. As stablecoins evolve into a foundational financial technology, competition is shifting from scale to control over the networks that move digital dollars.

marsbit03/09 05:08

After the Elevated Status of Stablecoins, Old Partners Circle and Stripe Compete for Each Other's Turf

marsbit03/09 05:08

After the Rise of Stablecoin Status, Old Partners Circle and Stripe Compete for Each Other's Turf

Stablecoin Ecosystem Shift: Former Partners Circle and Stripe Now Compete as Boundaries Blur The stablecoin industry, once characterized by clear divisions of labor, is undergoing a significant transformation. Circle, the issuer of the USDC stablecoin, and Stripe, the global payment processor, were long-time partners. Circle focused on the "issuance layer," minting digital dollars, while Stripe managed the "payment layer," integrating them into commercial flows. This dynamic is changing as both companies strategically expand into each other's domains, driven by the maturation of the stablecoin market into a potential trillion-dollar financial infrastructure. Circle is moving beyond its role as a mere issuer. Its new strategy involves building a comprehensive payment network to capture more value from the circulation of USDC. Key initiatives include the Arc blockchain, the Cross-Chain Transfer Protocol (CCTP) for liquidity, and the Circle Payments Network (CPN), an open standard payment coordination network. This shifts Circle from a stablecoin supplier to an infrastructure builder. Conversely, Stripe is moving downward from the payment layer to control the underlying financial rails. Its acquisition of stablecoin infrastructure firm Bridge, which recently received preliminary approval for a U.S. trust bank charter, is a critical step. Stripe is also co-developing the Tempo blockchain and acquired wallet infrastructure company Privy, aiming to master the entire stack from issuance to settlement. The result is that these former allies are now on a collision course in the middle of the stablecoin value chain. The competition is evolving from a race for market share in stablecoin supply to a broader contest over who will control the fundamental networks and rails through which digital dollars flow. This signals the industry's transition from a crypto-native experiment to a full-scale rebuild of financial infrastructure.

Odaily星球日报03/09 05:01

After the Rise of Stablecoin Status, Old Partners Circle and Stripe Compete for Each Other's Turf

Odaily星球日报03/09 05:01

Ethereum Under Pressure As Researchers Issue Critical Report

Culper Research has taken a short position on Ethereum, issuing a critical report that questions the network's long-term health. The report argues that the Fusaka Upgrade significantly expanded blockspace, causing transaction fees to drop by nearly 90%, which in turn weakens validator economics and staking rewards. It also alleges that recent transaction growth and new wallet creation are largely driven by spam and address-poisoning attacks rather than genuine adoption, with dusting-related activity accounting for 22.5% of all ETH transactions. Additionally, competition from Solana and reports of Vitalik Buterin selling 19,000 ETH have added to bearish sentiment. Despite these concerns, some commentators note that Ethereum’s design allows for future protocol changes to address economic issues.

bitcoinist03/08 03:33

Ethereum Under Pressure As Researchers Issue Critical Report

bitcoinist03/08 03:33

BNB Chain outpaces rivals in stablecoin activity – Why is capital moving here?

Stablecoins are becoming the primary liquidity rails in crypto, with Ethereum and TRON holding the largest supplies. However, BNB Chain has emerged as a dominant transactional hub, processing nearly 40% of global stablecoin transfers despite holding only about 5% of the total supply. This high transaction velocity is driven by structural advantages such as very low fees ($0.02 per transfer), fast block times, and strong network capacity. BNB Chain also hosts about 25% of active stablecoin wallets, reflecting strong user engagement. These factors position it as a high-throughput settlement layer, attracting capital as blockchains compete for stablecoin activity and dominance.

ambcrypto03/07 01:02

BNB Chain outpaces rivals in stablecoin activity – Why is capital moving here?

ambcrypto03/07 01:02

6% Annualized Return: Musk Declares War on Traditional Banks

Elon Musk's X platform has launched "X Money," a financial product offering a 6% annual percentage yield (APY) on deposits, directly challenging traditional banks that offer near-zero rates. The product includes a metal debit card engraved with the user’s X handle, integrates with Visa Direct for instant transfers, and provides FDIC insurance up to $250,000 via Cross River Bank. The high yield is enabled by a low-cost, digital-native model without physical branches, leveraging X's over 500 million monthly active users. X Money threatens traditional banks, payment intermediaries like PayPal, and remittance services by potentially diverting deposits and reducing transaction fees. Regulatory hurdles remain, including pending approval in New York and compliance with the GENIUS Act, which prohibits stablecoin-related yields. The service is further integrated with Grok, X’s AI, aiming to offer real-time financial advice and seamless transactions within the platform. Success depends on regulatory clearance and effective execution, positioning X Money as a potential U.S. super-app akin to WeChat Pay.

比推03/06 15:18

6% Annualized Return: Musk Declares War on Traditional Banks

比推03/06 15:18

Wall Street’s crypto embrace: Morgan Stanley files for Spot Bitcoin ETF

In a significant move, Morgan Stanley has filed an amended S-1 with the SEC for a Spot Bitcoin ETF, naming Coinbase Custody and Bank of New York Mellon as custody partners. The proposed trust is designed as a passive product that tracks Bitcoin's price without active trading, leverage, or derivatives, aiming to reassure regulators. This filing follows the bank’s earlier Bitcoin Trust submission in January and a simultaneous move toward a Solana ETF, signaling broader interest in the crypto ecosystem. The filing coincides with a crypto market surge to $2.45 trillion and $461.9 million in net inflows for U.S. Spot Bitcoin ETFs on March 4. However, the Crypto Fear and Greed Index remains at 29, indicating lingering caution. Morgan Stanley’s strategy appears driven by opportunity as much as belief, potentially aiming to capture fees and demand. Other major banks are also expanding crypto offerings: Goldman Sachs is building diversified portfolios, JPMorgan allows crypto collateral for loans, and Citigroup tests blockchain tokenization. The broader trend suggests a shift from whether to adopt crypto to who will control the ecosystem.

ambcrypto03/05 14:03

Wall Street’s crypto embrace: Morgan Stanley files for Spot Bitcoin ETF

ambcrypto03/05 14:03

Crypto Under Siege? Trump Says Banks Are Trying To Kill It

Coinbase CEO Brian Armstrong has accused major US banks of attempting to undermine proposed crypto legislation, specifically the GENIUS Act, by pushing for restrictive terms. The conflict centers around rules for stablecoins, particularly whether holders can earn interest and how banks would be involved. Former President Donald Trump amplified the issue on Truth Social, warning that such actions could drive crypto firms overseas. Negotiations in the Senate Banking Committee have stalled due to industry pushback and disputes over regulatory control, with custody and yield being key sticking points. Both sides are engaged in a public political fight, with crypto firms warning of lost competitiveness and banks advocating for stronger oversight and protections.

bitcoinist03/05 08:32

Crypto Under Siege? Trump Says Banks Are Trying To Kill It

bitcoinist03/05 08:32

Jack Ma Just Concluded an AI Mobilization Meeting, and the 'Soul Figure' of Qwen Left

A major leadership shakeup has hit Alibaba's AI division following a high-level strategic meeting. Ma Yun, along with core executives from Alibaba and Ant Group, convened on March 3rd to signal a full commitment to AI. However, the very next day, Lin Junyang, the 32-year-old P10 technical lead and key architect behind Alibaba’s open-source Qwen large language models, abruptly announced his resignation on social media platform X. Reports suggest the departure was not voluntary. The trigger appears to be an internal restructuring plan for the Qwen team. The plan, from the Tongyi Lab, aimed to break up Lin’s vertically integrated, full-stack team into separate, horizontally divided modules reporting directly to the lab, which would significantly reduce his management scope. This clashed fundamentally with Lin's belief that deep collaboration within a full-process team is essential for LLM innovation. The incident highlights a growing tension within Alibaba between the open-source technical ideals championed by Lin and the company's increasing focus on commercial returns from AI. Despite Qwen's global open-source success—topping Hugging Face downloads with over 1 billion—internal skepticism about its revenue potential and pressure from competitors were mounting. Lin's resignation has sent shockwaves through the global AI community, prompting an outpouring of support. Several key Qwen team members have also resigned. His departure marks a pivotal moment for Alibaba AI, signaling a shift from building open-source technological influence to prioritizing commercial落地 (commercialization). The immediate challenges for Alibaba include potential further brain drain, disrupted development rhythms, and maintaining trust within the open-source ecosystem, all while facing intense competition.

marsbit03/04 11:10

Jack Ma Just Concluded an AI Mobilization Meeting, and the 'Soul Figure' of Qwen Left