{"id":152803,"date":"2025-06-18T10:46:54","date_gmt":"2025-06-18T01:46:54","guid":{"rendered":"https:\/\/cryptonews.com\/jp\/?p=152803"},"modified":"2025-06-18T10:46:54","modified_gmt":"2025-06-18T01:46:54","slug":"arthur-hayes-warns-stablecoin-bubble-circle-ipo","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/jp\/news\/arthur-hayes-warns-stablecoin-bubble-circle-ipo\/","title":{"rendered":"\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u4f01\u696d\u306eIPO\u30d6\u30fc\u30e0\u306f\u30d0\u30d6\u30eb\u72b6\u614b\uff5c\u30d8\u30a4\u30ba\u6c0f\u8b66\u544a"},"content":{"rendered":"<p>\u6697\u53f7\u8cc7\u7523\uff08\u4eee\u60f3\u901a\u8ca8\uff09\u53d6\u5f15\u6240BitMEX\u306e\u30a2\u30fc\u30b5\u30fc\u30fb\u30d8\u30a4\u30ba\u5275\u8a2d\u8005\u306f17\u65e5\u3001\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u5e02\u5834\u304c\u30d0\u30d6\u30eb\u72b6\u614b\u306b\u3042\u308a\u3001\u591a\u304f\u306e\u6295\u8cc7\u5bb6\u304c\u640d\u5931\u3092\u88ab\u308b\u5371\u967a\u6027\u304c\u3042\u308b\u3068<a href=\"https:\/\/cryptohayes.medium.com\/assume-the-position-823ed2cf3c75\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">\u8b66\u544a\u3057\u305f<\/a>\u3002<\/p><p>\u30d8\u30a4\u30ba\u6c0f\u306f\u3001\u6700\u8fd1IPO\u3092\u679c\u305f\u3057\u682a\u4fa1\u304c\u500d\u5897\u3057\u305f\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3USDC\u767a\u884c\u4f01\u696d\u30b5\u30fc\u30af\u30eb\u793e\u306b\u3064\u3044\u3066\u300c\u751a\u3060\u3057\u304f\u904e\u5927\u8a55\u4fa1\u3055\u308c\u3066\u3044\u308b\u300d\u3068\u6307\u6458\u3002\u3053\u306e\u6210\u529f\u306f\u6301\u7d9a\u7684\u306a\u6210\u9577\u3067\u306f\u306a\u304f\u3001\u6295\u6a5f\u7684\u306a\u30d0\u30d6\u30eb\u306e\u5146\u5019\u3067\u3042\u308b\u3068\u4e3b\u5f35\u3059\u308b\u3002<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;Assume the Position&quot; is a discussion on the stablecoin mania brewing in public stock markets. If you want your bowel movements to stay regular, read on.<a href=\"https:\/\/t.co\/ceiUbuufAe\">https:\/\/t.co\/ceiUbuufAe<\/a> <a href=\"https:\/\/t.co\/aapX8nv6Dm\">pic.twitter.com\/aapX8nv6Dm<\/a><\/p>&mdash; Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1934752137835360669?ref_src=twsrc%5Etfw\">June 16, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\">\u65b0\u898f\u767a\u884c\u8005\u306e\u69cb\u9020\u7684\u6b20\u9665\u3068\u5e02\u5834\u30ea\u30b9\u30af<\/h2><span class=\"replacer\"><\/span><p>\u540c\u6c0f\u306b\u3088\u308c\u3070\u3001\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3\u306e\u6210\u529f\u306b\u306f\u53d6\u5f15\u6240\u3068\u306e\u63d0\u643a\u3068\u3044\u3063\u305f\u5f37\u529b\u306a\u914d\u5e03\u7db2\u304c\u4e0d\u53ef\u6b20\u3060\u3002\u3057\u304b\u3057\u3001\u3053\u306e\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u6301\u3064\u306e\u306f\u3001\u30c6\u30b6\u30fc\uff08USDT\uff09\u3084USDC\u306e\u3088\u3046\u306a\u65e2\u5b58\u306e\u5927\u624b\u306e\u307f\u3067\u3042\u308b\u3068\u5206\u6790\u3057\u3066\u3044\u308b\u3002<\/p><p>\u65b0\u898f\u5e02\u5834\u53c2\u5165\u8005\u306e\u591a\u304f\u306f\u3001\u5b9f\u884c\u53ef\u80fd\u306a\u6d41\u901a\u30e2\u30c7\u30eb\u3092\u6b20\u3044\u3066\u3044\u308b\u3002\u30c6\u30b6\u30fc\u306fBitfinex\u3068\u306e\u521d\u671f\u63d0\u643a\u306b\u3088\u308a\u3001\u307e\u305f\u30b5\u30fc\u30af\u30eb\u793e\u306f\u7c73\u56fd\u62e0\u70b9\u306e\u4fe1\u983c\u6027\u3092\u6d3b\u304b\u3057\u3066\u5927\u624b\u53d6\u5f15\u6240\u30b3\u30a4\u30f3\u30d9\u30fc\u30b9\u3068\u5f37\u529b\u306a\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u7bc9\u3044\u305f\u304c\u3001\u305d\u306e\u518d\u73fe\u306f\u96e3\u3057\u3044\u3002<\/p><p>\u3053\u306e\u305f\u3081\u3001\u30d8\u30a4\u30ba\u6c0f\u306f\u65b0\u898f\u767a\u884c\u8005\u306e\u591a\u304f\u304c\u751f\u304d\u6b8b\u308b\u3053\u3068\u306f\u96e3\u3057\u3044\u3068\u898b\u3066\u3044\u308b\u3002<\/p><p>\u30b5\u30fc\u30af\u30eb\u793e\u306e\u6210\u529f\u306b\u727d\u5f15\u3055\u308c\u308b\u73fe\u5728\u306e<a href=\"https:\/\/cryptonews.com\/jp\/cryptocurrency\/what-is-stable-coin\/\">\u30b9\u30c6\u30fc\u30d6\u30eb\u30b3\u30a4\u30f3<\/a>IPO\u30d6\u30fc\u30e0\u306f\u3001\u6295\u6a5f\u7684\u53d6\u5f15\u3060\u3068\u30d8\u30a4\u30ba\u6c0f\u306f\u5f37\u8abf\u3002\u3053\u308c\u306f\u6295\u8cc7\u5bb6\u304c\u640d\u5931\u3092\u907f\u3051\u308b\u305f\u3081\u3001\u30ea\u30b9\u30af\u306e\u9ad8\u3044\u8cc7\u7523\u3092\u6b21\u3005\u3068\u4ed6\u8005\u306b\u624b\u6e21\u3057\u3066\u3044\u308b\u72b6\u6cc1\u3092\u6307\u3059\u3002<\/p><p>\u307e\u305f\u3001\u30d8\u30a4\u30ba\u6c0f\u306f\u30b5\u30fc\u30af\u30eb\u793e\u306e\u73fe\u5728\u306e\u8a55\u4fa1\u984d\u3092\u904e\u5270\u3060\u3068\u898b\u3066\u3044\u308b\u3002<\/p><p>\u540c\u793e\u304c\u5229\u5b50\u53ce\u5165\u306e\u534a\u5206\u3092\u5229\u5bb3\u95a2\u4fc2\u8005\u306b\u6e21\u3057\u3066\u3044\u308b\u70b9\u306a\u3069\u3092\u6319\u3052\u3001\u4ed6\u306e\u65b0\u898f\u767a\u884c\u8005\u3082\u540c\u69d8\u306e\u69cb\u9020\u7684\u8ab2\u984c\u3092\u62b1\u3048\u3066\u3044\u308b\u3068\u6307\u6458\u3002\u3053\u308c\u3089\u306eIPO\u306f\u5d29\u58ca\u306b\u5bfe\u3057\u3066\u8106\u5f31\u3067\u3042\u308b\u3068\u8b66\u544a\u3057\u305f\u3002<\/p><h2 class=\"wp-block-heading\">\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u4e88\u6e2c\u3068\u6295\u8cc7\u6226\u7565<\/h2><span 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href=\"https:\/\/cryptonews.com\/jp\/price-predictions\/bitcoin-price-prediction\/\">\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\uff08BTC\uff09<\/a>\u306e\u4fa1\u683c\u306b\u3082\u5f71\u97ff\u3092\u53ca\u307c\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u6295\u8cc7\u6226\u7565\u3068\u3057\u3066\u3001\u30d8\u30a4\u30ba\u6c0f\u306f\u5373\u5ea7\u306e\u7a7a\u58f2\u308a\u306f\u63a8\u5968\u3057\u3066\u3044\u306a\u3044\u3002<\/p><p><a 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