#稳定币市场动态 Looking back at the development of stablecoins over the past decade, I have witnessed the rise and fall of many projects. This time, Bullish receiving $1.15 billion in IPO funds in the form of stablecoins is indeed a milestone event. It not only marks the recognition of stablecoins in the mainstream financial market but also signifies that the boundaries between Crypto Assets and TradFi are gradually becoming blurred.

Historically, this reminds me of the scene in 2014 when Tether first issued USDT. At that time, many people were skeptical about stablecoins, believing that it would be difficult to maintain a peg to fiat currency. However, time has proven that stablecoins not only survived but also became an important infrastructure of the Crypto Assets ecosystem.

Bullish's move will undoubtedly trigger a series of chain reactions. Firstly, it provides a new model for other Crypto Assets companies to conduct IPOs, which may lead to more companies following suit. Secondly, this will further promote the institutional application of stablecoins, prompting more TradFi institutions to confront and embrace stablecoins.

However, we must also be vigilant about the potential risks that may arise. Looking back at the 2022 Terra/LUNA collapse incident, it serves as a bloody lesson. Therefore, regulatory agencies are likely to strengthen the scrutiny and regulation of stablecoins.

Overall, this incident may become another turning point in the history of stablecoin development. It showcases the potential of stablecoins while reminding us to seek a balance between innovation and risk control. In the future, we may see more similar groundbreaking applications, but we must also remain vigilant, learn from historical lessons, and promote the healthy development of the industry.