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Standard Chartered and Circle launch bank-led USDC minting and redemption for institutions, starting in Dubai’s DIFC with planned global expansion.
Circle dropped 1% today after falling nearly 18% on Tuesday following the launch of the rival stablecoin project OUSD.
Analysts don't think the threat of a new stablecoin launch was enough to warrant a major Circle (CRCL) sell-off on Tuesday.
The post Why Circle Stock Crashed 17.55% Today? appeared first on Coinpedia Fintech News Circle (CRCL) stock suffered one of its biggest single-day declines after dropping by 17.55% and wiping out nearly $3.6 billion in market value. While the sharp drop surprised many investors, it wasn’t caused by
OUSD, which borrows heavily from Hyperliquid’s USDH playbook, is a new stablecoin that a consortium of more than 140 companies will operate. The post OUSD stole Hyperliquid’s homework — then hit Circle with it appeared first on Protos.
The Stripe- and Coinbase-backed stablecoin consortium can challenge Circle's business model, but analysts say building a network is harder than assembling big-name partners.
The forthcoming Open USD has more than 100 major supporters onboard, including Coinbase—a key backer of Circle’s USDC.
ARK Invest's biggest crypto stock purchases over the past three trading days were Coinbase and Circle, whose shares have fallen 17% and 27.6%, respectively, over the past month.
Ark bought $6.85 million worth of Coinbase, $6.21 million worth of Circle Internet Group, and $3.54 million in Bullish on Monday.
BNY, the world's largest custodian bank, said it plans to add support for additional stablecoin via its Digital Asset Custody platform.
Coinbase and Circle have posted steeper losses than Oracle, Netflix and Salesforce, highlighting the widening gap between crypto equities and the broader market.
The stablecoin giant and the Japanese financial corporation plan to deploy cross-border foreign exchange settlements as early as next year.
