Circle faces fresh market jolt as Coinbase weighs rival Stablecoin play

cryptonews05:26

Coinbase and Circle shares have come under pressure after a CoinDesk report said Coinbase is weighing a role in a new stablecoin platform backed by Stripe, Visa, and Mastercard. Summary Circle ...

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Sources indicate that @Coinbase is also exploring participation in the new…A Stripe, Visa, and Mastercard-backed platform could add fresh competition in stablecoin payments. CoinDesk said such infrastructure may operate outside USDC or move some payment activity away from Circle’s stablecoin network.EdgeX offers USDC payments after EDGE liquidations spark scrutin","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"随着Coinbase权衡竞争对手的稳定币游戏，Circle面临新的市场震荡","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/4caaddd940957ff74dc899b0877eec6d","symbols_score_info":{"COYY":0.6,"COII":0.6,"CONL":0.6,"COIW":0.6,"COIG":0.6,"ICRC":0.6,"ICOI":0.6,"COIA":0.6,"COIN":1.95,"CONY":0.6,"CRCO":0.6,"CRCD":0.6,"CONI":0.6,"COIO":0.6,"CCUP":0.6,"CONX":0.6,"CRCL":1.96,"CRCG":0.6,"CRCA":0.6,"FIAT":0.6},"content_text":"Coinbase and Circle shares have come under pressure after a CoinDesk report said Coinbase is weighing a role in a new stablecoin platform backed by Stripe, Visa, and Mastercard.\n\n\nSummary\n\n\n\nCircle and Coinbase shares fell after a report said Coinbase may join a Stripe backed stablecoin platform.\nCoinbase’s possible move raised attention on its Circle revenue deal, which is set for renewal in August.\nBitcoin weakness and bearish retail sentiment added pressure as investors watched stablecoin competition and USDC revenue exposure.\n\n\n\nCoinDesk reported that Coinbase Global is evaluating whether to participate in the planned platform, a move that has drawn attention because of the exchange’s existing revenue-sharing deal with Circle Internet Group. The report placed new focus on Coinbase’s stablecoin strategy as investors watched Circle’s USDC business and Coinbase’s negotiating position ahead of a contract renewal later this year.\nCoinbase review hits Circle shares\nCircle shares fell as much as 4% shortly after Tuesday’s market open, while Coinbase dropped 1.4% during the same morning session. The decline came as crypto-linked stocks traded under pressure and Bitcoin struggled to stay above $67,000.\nAccording to the market data cited in the report, Bitcoin price traded near $66,800 at the time of writing after falling 2.8% over 24 hours. The price drop followed an intraday move toward $65,000 and a $1.8 billion liquidation wave across crypto markets.\nOn Stocktwits, retail sentiment for both Circle and Coinbase moved into bearish territory over the past day. The platform also showed that message volume around Circle rose 40% in 24 hours, while both Circle and Coinbase recorded more than 150% growth in message volume over the past month.\nStablecoin competition draws attention\nCircle’s business remains closely tied to USDC, and its filings show how important reserve income has become to the company. Circle generated $2.64 billion in 2025 revenue from income earned on assets backing USDC, according to the figures cited in the report.\n\nCoinbase Set To Launch Stablecoin Platform? Global payment leaders @Stripe, @Visa, and @Mastercard are reportedly backing a soon-to-debut stablecoin platform to unify digital asset settlement. Sources indicate that @Coinbase is also exploring participation in the new… pic.twitter.com/Ty4JM63oDs— BSCN (@BSCNews) June 3, 2026\n\nA Stripe, Visa, and Mastercard-backed platform could add fresh competition in stablecoin payments. CoinDesk said such infrastructure may operate outside USDC or move some payment activity away from Circle’s stablecoin network.\nVisa and Mastercard shares also weakened in Tuesday morning trading, with both stocks falling more than 2%. Stocktwits data showed a split in retail sentiment, as Visa trended bearish while Mastercard improved to extremely bullish from bullish.\n\n\n\n\n\n                You might also like:\n            \n\n                EdgeX offers USDC payments after EDGE liquidations spark scrutiny            \n\nRevenue deal faces August test\nThe main investor concern centers on Coinbase’s current arrangement with Circle. Under the 2023 agreement, Coinbase keeps all interest income from USDC held on its exchange and shares revenue equally with Circle on USDC circulating elsewhere.\nCoinbase CEO Brian Armstrong addressed the agreement during the company’s first-quarter earnings call last month. He said the contracts with Circle were already in place and added that Coinbase expected to continue the relationship under the same terms.\nEven so, the CoinDesk report raised questions about whether Coinbase could gain more bargaining power if it joins another stablecoin platform before the August renewal period.\n\n\n\n\n\n                You might also like:\n            \n\n                Coinbase links raise questions around crypto lobby’s clarity push","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640182635","isCrawlerRequest":true}