Circle released its first financial report after the IPO today, exceeding expectations and driving the market up. Many people think that USDC mainly involves Coinbase, Hyperliquid, and Solana, but there are actually many points worth digging into regarding the data in the financial report. For example, it was evident during the IPO filing that Circle's largest held cryptocurrency is $SEI, as they have made early investments and continuously cultivated this ecosystem. From the native USDC minting volume of @SeiNetwork, it is clear that it has the fastest growth across the entire chain, reaching $160 million within just two weeks of launch. The total amount of this USDC has already surpassed that of Tron, and it is expected that the trading volume of stablecoins will exceed $1 trillion this year. ARC is still a distant future, while Sei has already become an important application and settlement scenario for stablecoins.