Mizuho, JPMorgan Turn Bearish on Circle as USDC Economics Come Under Pressure

Crypto Insight Summary: Investment bank Mizuho downgraded Circle (CRCL) to underperform from neutral. The bank also cut its price target for the stock, citing threats from Open USD. The downgrade landed as JPMorgan also lowered its Circle and Coinbase (COIN) estimates. Both banks pointed to mounting pressure on the economics behind USDC (USDC). Open USD Rattles Circle’s Model Crypto Insight Analysis: Direction: Bearish CRCL / Neutral USDC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Analyst downgrades signal concerns for Circle, but stablecoin market remains resilient.