Comparing what CRCL is doing to a lot of the stablecoin-related tokens is eye-opening.
There's just so much money that still isn't in crypto and isn't even touching tokens that would otherwise be doing very well if they were stocks instead of tokens.
This whole "Coinbase doesn't have to talk about Ethereum thing" is just dumb. Of course, they don't *have* to talk about anything, but the incentives are already there for them to do so.
Coinbase is very incentivized to talk about Ethereum and see Ethereum/ETH do well - they own 137,000 ETH, are the third largest ETH staking service, are building their entire onchain business on Base (which settles on Ethereum) and have many investments in Ethereum-related companies.
It's not about "alignment" - it's about Coinbase (and other entities) being vocally bullish on the thing that they have invested a lot of time and money into.