Movement Alert｜Circle Falls 5.01% in Regular Trading, Mizuho Downgrade and Open USD Competition Threaten Profitability

Market Focus07-16

On July 16, Circle Internet Corp. fell 5.01% in regular trading to $62.29/share, with turnover of $128 million.

On the news front, Mizuho Securities recently downgraded Circle from neutral to underperform and slashed its target price from $85 to $50, citing Open USD (OUSD) — a stablecoin alliance comprising over 140 companies including BlackRock, Coinbase, Mastercard, Stripe, and Visa — as a structural threat to Circle's business model. Under the OUSD framework, reserve yields are distributed among participating partners rather than a single issuer, potentially driving industry-wide pricing compression and eroding Circle's medium-term profitability.

Mizuho further warned that upcoming revenue-sharing negotiations between Circle and Coinbase — USDC's largest distribution partner — represent an additional headwind, as Coinbase's involvement in OUSD could strengthen its bargaining leverage and further squeeze Circle's margins. The downgrade compounds pressure from USDC's declining circulation, which has fallen approximately $70 billion from its March high.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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