Arthur Hayes on Circle and Coinbase: Stablecoin-Linked IPOs Are Risky

Key Insights Arthur Hayes analyzes Circle’s public listing and warns investors about upcoming stablecoin-related IPOs. The crypto analyst highlights distribution challenges facing new entrants and also cautions against shorting overvalued stablecoin stocks despite fundamental concerns about their business models. Arthur Hayes’ Warning Arthur Hayes warns Circle as overvalued despite being the second-largest asset-under-custody stablecoin issuer source: https://www.thecoinrepublic.com/2025/06/17/arthur-hayes-on-circle-and-coinbase-stablecoin-linked-ipos-are-risky/