Circle Stock Price Sinks 20% as CRCL Hit by New U.S. Stablecoin Reward Curbs
Circle Internet Group looked to regain its footing Wednesday morning. Shares of CRCL slid to $98.31 before settling at $101.17 on Tuesday—marking their steepest single-day fall since the listing. The stock ticked up a bit in premarket after the hit. Circle’s listing snaps a milestone: it’s the first big stablecoin issuer to go public in the U.S., which hands investors a direct look at a business long pegged to profit from regulatory clarity. Stablecoins, built to track a fixed value—typically one U.S. dollar—have USDC as their number two by market size, just behind Tether’s USDT.