Why Circle Internet Stock Is Plummeting Today
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Shares of Circle Internet Group (CRCL) are down 9.1% today, following a critical report from the Bank for International Settlements (BIS) on stablecoins. The report questioned the viability of stablecoins as a primary monetary system, highlighting shortcomings in key areas. Circle's stock had previously surged but faces challenges, including revenue dependence on interest rates and a significant portion of revenue tied to Coinbase. Investors are advised to be cautious with Circle stock.
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