Jeremy Allaire

Jeremy Allaire understood something most people in crypto missed. The internet didn’t win because of any single application. It won because of open, interoperable infrastructure. He brought that same instinct to stablecoins, cryptocurrencies pegged to a stable value, like that of the U.S. dollar. While others in the industry were chasing speculation, Jeremy was focused on getting the basics right: one-to-one backing, independent audits, and transparency. One key victory was the July passage of the GENIUS Act, a regulatory framework that he, along with many in the industry, championed.

I’ve known Jeremy since the early days of the partnership between Circle and the Stellar network. What’s always struck me is that his thinking starts from the web, layering finance on top of that. That matters. It means infrastructure defaults to openness and interoperability. Circle’s IPO last year is a milestone, but it’s really a reflection of something Jeremy has been building toward for a decade: financial infrastructure that works the way the internet was supposed to.

Dixon is CEO and executive director of the Stellar Development Foundation

Correction, April 15
The previous version of this article misstated the year of Circle's IPO. It was 2025, not 2026.