Jeremy Allaire, CEO of Circle, wrote that he is more optimistic than ever about the future of cryptocurrencies. He has observed the adoption life cycle of Internet technologies over the past 35 years, and believes that the continuous evolution of open networks, open protocols, and open software is deepening the utility of the Internet for society and the economy. He believes that cryptocurrencies will be driven by tremendous power to take society and the economy to unprecedented new levels. He also pointed out that stablecoins are becoming a legally defined and accepted form of digital currency in almost all major jurisdictions around the world. By the end of 2025, stablecoins will become "legal electronic money" almost everywhere, which will give them an increasing share of the 100T + USD electronic money market.