5 Must-Read Articles for the Evening | The Layer 1 Battle between Stripe and Circle

1. Pantera: The crypto market enters the second phase of the bull run cycle.

Bitcoin often leads the bull run cycle, while altcoins lag in the early stages. As the cycle progresses, altcoins tend to gain momentum and outperform Bitcoin towards the end of the cycle. We refer to this as the "first phase" and "second phase" of the bull run. Click to read.

2. Circle and Stripe Build Their Own Public Chain: Is the Throne of Ethereum's Settlement Layer in Jeopardy?

In the Q2 2025 financial report, Circle disclosed that it will launch a public chain called ARC specifically for stablecoins. Not only Circle, but there have also been reports that payment giant Stripe is quietly developing a payment public chain codenamed Tempo in collaboration with venture capital firm Paradigm. Click to read more.

3. Seizing the Stablecoin Track: The Deep Meaning Behind Stripe and Paradigm's Bet on Tempo

According to several informed sources, payment giant Stripe is accelerating its layout in the blockchain field with a new project called Tempo, appointing Matt Huang, co-founder and managing partner of crypto venture capital firm Paradigm, as the first CEO of Tempo. Huang is also a member of Stripe's board and will continue to serve as managing partner at Paradigm. Click to read

4. Pantera: The Value Creation of DAT Using BitMine as an Example

Pantera has deployed over $300 million in DAT across various tokens and regions. These DAT are leveraging their unique advantages, employing strategies to increase their digital assets in a per-share appreciation manner. Here is an overview of our DAT portfolio. Click to read.

5. The New Battlefield for Stablecoins: The Layer 1 Battle between Stripe and Circle

Two stablecoins Layer 1 in one day have shaken up the entire crypto and fintech world. Stripe's "Tempo" has emerged from stealth mode, while Circle officially announced "Arc" in the midst of its financial report rhythm. On the surface, both are public chains optimized for payments. However, the underlying logic is completely different: one is a payment service provider with distribution capabilities for merchants and developers, while the other is the issuer of USDC, attempting to upgrade a stablecoin into a complete network. Click to read.

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