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President Donald Trump shakes hands with Commodity Futures Trading Commission (CFTC) Chairman Michael Selig during a meeting with technology leaders in the Roosevelt Room of the White House, Wednesday, Aug. 19, 2026, in Washington. Jacquelyn Martin/Associated Presshide caption

Shenchao Overview: Over the past few years, Circle has done just one thing: bring USDC to where users already are. Now, it’s entering the Layer 1 space itself, not betting on stealing liquidity from Ethereum or Solana, but aiming to create markets that don’t yet exist: stablecoin foreign exchange, institutional private finance, and autonomous agent…