Happy Tuesday!

Michael Saylor says proof of reserves in crypto is a ‘parlor trick,’ but Binance founder Changpeng Zhao disagrees: who is right?

USDC’s issuer Circle is going public and targeting a $5+ billion raise to issue its stock at the NYSE — who is investing?

Plus, when markets start to shake, Matt Maley turns to a specific setup using one of the most explosive inverse ETFs on the board. Join him live tomorrow at 6 PM ET to see what it is, how he trades it and what signals he follows to stay ahead of the next big move.

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TOP STORY

Michael Saylor Calls Proof Of Reserves A 'Crypto Parlor Trick', But Binance's Ex-CEO CZ Isn't Having It: 'He Probably Sold Bitcoins'

Strategy Inc. co-founder Michael Saylor on Tuesday sharply criticized the practice of publishing proof of reserves, calling it a security liability and a distraction from what truly matters.

His comments, made in a public address, dismissed proof of reserves as a “crypto parlor trick” that offers no real protection and exposes companies to significant risk.

“It’s like publishing the addresses and bank accounts of all your kids,” said Saylor. “It doesn’t make your family safer.”

Binance’s ex-CEO Changpeng Zhao, though, was not impressed by Saylor’s comments.

How did he clap back?

Read the full scoop here.

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QUICK N DIRTY

Solana will trail Ethereum, according to the latest Standard Chartered report, because we are past ‘peak memecoin’ and Solana is still waiting for more adoption.

Shiba Inu and other memecoins are a good entry point to the crypto ecosystem, according to a new Gemini state of crypto report.

Dogecoin is up over 3% on reports of an X money release and DOGE mining growth: what is going on?

FINTECH FOCUS

USDC Issuer Circle Eyes $600M Raise In NYSE IPO, Targets $5.4B Valuation

Circle, the company behind the USDC stablecoin, is planning to raise up to $600 million through its upcoming initial public offering, according to an update submitted to the U.S. Securities and Exchange Commission.

This move positions Circle to go public on the New York Stock Exchange under the ticker symbol “CRCL.”

Who’s investing and how much?

Read the full scoop here.

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