Looks like you're in Germany. Switch to our Europe site for products available in your region.
Post
Crypture 科噗球
Show original
長線來看還有一個利空， Circle 是持續增發股票去付薪水
一般公司增發是要拿現金去做事，而 Circle 發出去的股票幾乎不是投入生產性資產，而是直接付給人，包含員工薪水、員工認股、商業合作。
今年已增發 1,034 萬股，全年預計約 1,774 萬股，換算市值約 11.9 億，增發 7 %流通量；2027年估計增發約 994 萬股，換算市值約 6.67 億，兩年合計 18.6 億美元，扣掉員工行使選擇權繳回，淨流出約 16.9 億美元，等於 Circle 帳上現金的 98%，而同期回購金額是 0。
而更驚人的是 Circle 最大可增發 Class A 25 億股，目前只用掉 9.3%，還能再增發 10 倍，目前授權可發行總量約 7,870 萬股，約等於流通股的 31%，而且可發行股每年自動補流通股 6%。實際發行量每年由薪酬委員會單方決定，股東沒有否決權。
$CRCL
Crypture 科噗球
Just a one-rate hike allows Circle to earn $53 million effortlessly
From two rate cuts at the beginning of the year to the current expectation of a one-rate hike, if a one-rate hike really happens on 9/16, based on the current USDC circulation of 73.3 billion and counting 106 days until the end of the year, revenue would increase by $53 million and net profit by $20 million.
Coincidentally, ARC mainnet launches on the same day, 9/16. Assuming it can further boost USDC circulation, Morgan Stanley might have to revise their target price upward again after the fact 😂
That said, Circle’s long-term outlook remains unclear. Here we can swing between a dip rebound + rate hike and revenue growth narrative brought by the ARC mainnet, but long-term attention should still focus on USDC circulation growth in Q3, Q4, and into next year.
$CRCL
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
