Circle Stock Falls 7% as Mizuho Flags AI Threat to USDC Stablecoin
2 outlets · first seen 22h ago · latest 7h ago
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Blockonomifirst seen
Circle Stock Falls 7% as Mizuho Flags AI Threat to USDC Stablecoin
TLDR Mizuho cut its price target on Circle to $43 from $45 and kept an Underperform rating. The bank sees a 10% to 20% medium-term risk to Circle’s reserve revenue from AI agents. AI agents may steer USDC holders toward higher-yielding fiat products or other platforms. Faster AI adoption could shrink USDC’s market cap by up to $9 billion. Circle…
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Unchained
Chatbots Would Rather You Skip USDC, Mizuho Finds, Cutting Circle Target to $43
Mizuho thinks AI assistants that shop around for yield on behalf of their users could become a real drag on Circle’s business. Mizuho Securities on Monday trimmed its Circle Internet Group (CRCL) price target by $2, to $43, while reiterating an Underperform rating. In the note, the bank estimated that AI personal-assistant tools pulling holders out of USDC and into…