Circle is relying on a cash buffer of over $1 billion to cope with competition from PayPal

ChainCatcher news, according to Bloomberg, Circle CEO Jeremy Allaire stated in an interview that Circle is relying on a cash buffer of over $1 billion to help cope with new competition from non-cryptocurrency companies like PayPal, preventing further decline in the market share of the second-largest stablecoin USDC.

It is reported that the circulation of Circle's dollar coin has decreased from $45 billion at the beginning of the year to about $26 billion.