Circle Shares Fall Most Ever On Latest Stablecoin Rewards Move
Circle Internet Financial Ltd. signage in front of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergCircle Internet Group Inc., the issuer of the USDC stablecoin, fell the most on record on Tuesday, with investors weighing potential changes to stablecoin regulation and competition in the sector.
The stock declined as much as 22%, its steepest intraday drop ever, and leading losses across crypto-linked equities. Coinbase Global Inc. fell as much as 11%, while MARA Holdings Inc., Bullish, Galaxy Digital Holdings Ltd. and Robinhood Markets Inc. also moved lower.