The fundamentals of Sei have officially changed since Circle's IPO. (This is a full text without ads, only from a response by an alpha research team) 1. Sui and Sei are public chains that Coinbase and Circle laid out as early as 2022. If you think it was inexplicable before this, it’s because they have been preparing for a long time, ready to act when the time comes. According to publicly available information from cryptorank or rootdata: On August 31, 2022: Multicoin Capital and Coinbase Venture invested in Sei during the seed round, raising a total of 5M. On December 15, 2023: Circle made an undisclosed investment round. On September 18, 2022: Coinbase Venture and Circle Venture (along with A16Z) invested in Sui during the B round, raising a total of 300M. (Just to add, in 2022, Coinbase and Circle, along with A16Z, also invested in Aptos, while Optimism has always been backed by A16Z and Paradigm.) The four chains mentioned above are all included in Circle's IPO asset list, aside from BTC and ETH, just those four. There is a high degree of certainty in speculating that since 2022, Coinbase and Circle have been laying out public chains. What for? It didn’t seem very clear before this. And on the candidate blockchain list for stablecoin legislation in Wyoming, the first state in the U.S. to do so, all four chains are included. Aptos and Solana are tied for first place with 32 points, while Sei follows closely with 30 points. So teachers, what do you think Coinbase and Circle are doing? I don’t quite understand, but I always feel like there’s capital at play! Is this going through the channels of the U.S. state government?