The EU will fully ban USDT on July 1, which was supposed to be a huge positive development for Circle to dominate Europe. However, $CRCL stock plunged 17% directly today. The reason is that BlackRock, Visa, and Coinbase, those old foxes from Wall Street, got together and created a new stablecoin OUSD, directly overturning Circle's table. Previously, Circle was enjoying the bottom-layer dollar interest all to itself, but now OUSD is sharing the interest.

CRCL-4.73%
BLK-0.47%
V2.51%
COIN-1.04%
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