Circle (CRCL) opened down ~6% this morning, from Friday's $62.58 close into the high $58s. First minute alone traded ~1.9M shares, near a quarter of a normal day's volume, in 60 seconds.
Why: Morgan Stanley cut Circle to Underweight, slashed its target 60% to $38. Same morning, TD Cowen initiated at Buy, still liking the platform's economics. Two banks, opposite calls, same day, right at the open.
Backdrop: Circle reports Q2 earnings Wednesday, market expects a YoY decline, days after Circle l...
The most useful thing in a governance forum is usually not the proposal. It is the question nobody answers.
#baby
Babylon's Aave integration gave me one this week. On May 29, an engineer at @babylonlabs_io laid out the division of labor cleanly. Aave DAO controls all Spoke parameters, risk settings, liquidity, pause and freeze, listings. On the Babylon side, Babylon governance controls the TBV protocol, the integration contracts, and the addition of permissioned actors.
Read that twice and one...