Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
Stock CFD Derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
3.8%
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
tag
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
IPO
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

Mizuho: Circle’s OCC approval does not ease core concerns

CoinNetwork
robot
Abstract generation in progress
Crypto Globe news, Mizuho said Circle (CRCL) receiving U.S. Office of the Comptroller of the Currency (OCC) approval to set up the first national digital currency bank is a positive milestone, but investors may be overestimating its importance. In a report on Friday, analyst Dan Dolev noted that while this is a positive development, the market reaction may be overly optimistic because it has not addressed the fundamental issues affecting the stock price. Circle’s shares rose 5% at Friday’s close, but on Monday gave back most of the gains, trading at $63.03, down 4.7%. Mizuho reiterated a neutral rating, saying that the regulatory approval failed to resolve the problem of USDC’s market cap declining since March 2026: the circulating supply has fallen by about $7 billion from the peak in March to $74 billion, and redemptions have exceeded new issuances. The stablecoin market saw its largest month-on-month contraction in years in June, with on-chain liquidity outflows, as the crypto market continues to hover near 2026 lows. The analyst also mentioned that competitive pressure from Open USD is increasing—a newly launched USD-backed stablecoin developed by a consortium made up of more than 140 financial and technology companies.
CRCL-4.73%
USDC0.03%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
Add a comment
Add a comment
HypeVaccinated
· 3h ago
Trading licenses in the short term for quick flips, but looking for redemption in the long run—this pullback isn’t surprising
View OriginalReply0
GateUser-78b4adc8
· 4h ago
$74 billion USDC redemption pressure + new stablecoins competing for market share; a neutral rating is pretty objective.
View OriginalReply0
GateUser-4bd1cc87
· 4h ago
Circle getting its license is indeed a milestone, but the stock price falling back shows the market isn’t naïve—the fundamentals haven’t changed.
View OriginalReply0
GateUser-f4fbd803
· 4h ago
OCC approval is for appearances, the redemption amount is the substance—Dolev is right.
View OriginalReply0

  • Pinned

Sitemap