Recently, a lot of people have been asking me: Is it a good time to buy CRCL now?

The price has indeed returned to near the offering price, which seems “very safe,” but my current choice can be summed up in one sentence: I’m not buying for now. ⚠️
The first major risk is clear: token unlocks.
Starting November 12, we’re entering a peak unlocking period. In August, 11.5 million shares were released early, and now it’s time for the 180-day locked shares of executives, founders, early investors, and employees to be unlocked. Moreover, a significant portion of these shares have already been traded OTC. The risk of short-term selling pressure is real; it’s not just a matter of sentiment, but of structure.
The second risk is something many people aren’t aware of, and it could be even more serious than the unlocks:
USDC is defined as an “asset” by the IRS in the US, not as cash.
What does this mean?
If you use USDC to buy a cup of coffee, you are essentially “selling USDC”;
Any time you “sell,” you may generate capital gains;
If there are gains, you have to pay taxes;
Even if you don’t make money, you must keep records.
In other words: every payment is a potential taxable event. 🤯
This directly kills the possibility of USDC becoming a “daily payment tool” in the US. Stablecoin regulations cover issuance, reserves, and supervision, but they haven’t solved the killer problem of tax classification.
So the reality is:
USDC is more suitable for B2B, cross-border settlements, and financial back-end use;
Meanwhile, USDT still firmly dominates global retail payments and on-chain circulation.
My conclusion is simple:
It’s not that you can’t buy CRCL, but when the unlock risk is at its peak + the interest rate cycle is unfavorable + the payment use case has a ceiling, I choose to wait and see. 👀
Maybe I’ll be wrong, but at this point, I don’t want to gamble.
‍#CRCL #Circle #USDC #稳定币 #美股