BlockBeats News, June 20th, Airwallex Co-founder and CEO Jack Zhang posted on Platform X, stating, "It's time to short Circle."
Prior to this, Jack Zhang posted on Platform X questioning the practical use of stablecoins, sparking a market discussion, "Investors keep asking me questions about stablecoins and how they reduce forex costs; if you transfer money from USD to EUR and the recipient still needs to receive EUR in their bank, I don't see any way stablecoins can reduce costs — the cost of converting from stablecoin to the receiving currency is much higher than the forex interbank market. Cryptography is an area that has not been understood, and in the past 15 years, we have not seen any use cases for cryptographic technology."
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