This round of cryptocurrency stocks has three leaders, you can ponder

MSTR, they are a privatized reserve currency

Coinbase, crypto payment channels, banks, brokerages

CRCL, the channel for the third generation of US dollar settlement system

What does any of this have to do with the crypto circle?

It relates to cryptocurrency, but has nothing to do with the crypto circle

If you still can't understand, then cryptocurrency can be divided into two parts, one part is what Americans want to do with crypto, and the other part is what the crypto circle retail investors want to speculate on.