In today’s briefing:
- Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition
- HHC: Tower Opening Affirms FFO Outlook
- 83: Initial Thoughts On Sherwin-Williams (SHW)
Updates on Centralized Stablecoins: Reserve Assets, Transparency, and Regulatory Recognition
- Benefiting from safer reserve assets and lower regulatory risk, Circle’s USDC is quickly eating into Tether’s USDT market share in recent months
- USDT is highly used in the crypto on-off-ramp and as a quote currency in trading pairs, while a large share of USDC is locked into Defi protocols
- BUSD is in its own niche to serve Binance’s ecosystem. The recent move of Binance to only keep BUSD & USDT in its exchange will have a profound impact
HHC: Tower Opening Affirms FFO Outlook
- HHC. announced the opening of 565-unit Ward Village development, Ko’ula. HHC had been forecasting the opening of the new tower at Ward Village since last year
- The opening results in HHC recognizing revenue from the sale of each unit within the tower. The opening of Ko’ula affirms our outlook for the year
- The opening of Ko’ula puts HHC on pace to meet 2022 condo sales guidance of $650 million to $700 million
83: Initial Thoughts On Sherwin-Williams (SHW)
- I’m currently working on the September issue of Watchlist Deep Dives, which features Sherwin-Williams.
- My research process is primary-sources focused and that means reading lots of 10K’s, which include a report from the company’s auditors.
- I was surprised to see that Ernst & Young had served as SHW’s auditor since 1908.
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