A new US rule wiped $5B off Circle — but it may hurt Coinbase more
Circle, the issuer of USD Coin (USDC) stablecoin, noticed its inventory plunge 20% this week, erasing $5 billion in market capitalization in its steepest intraday drop since going public. The sell-off occurred on the identical day Tether introduced it had secured a ‘Big Four’ accounting agency to undertake a full audit of USDT. According to…
