Circle Stock (CRCL) Falls after President Trump Signs Stablecoin Bill into Law
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The GENIUS Act gives U.S. companies a clear path to issue and manage dollar-backed stablecoins for payments. It includes strict rules, such as holding reserves in cash or Treasuries, regular audits, and full public disclosures, although it notably exempts Trump and his family from a ban on lawmakers profiting from stablecoins. That exemption caused delays earlier this year. Meanwhile, Trump is also backing a private stablecoin venture, World Liberty Financial, which launched its own coin with BitGo.
As a result, Wall Street is quickly adapting to these changes. According to Yahoo Finance, JPMorgan (JPM) and Citigroup (C) both confirmed that they plan to enter the stablecoin space, with JPMorgan preparing to launch a deposit token (JPMD) for institutional clients. Interestingly, companies such as Amazon (AMZN) and Walmart (WMT) are also exploring stablecoin options. While backers highlight benefits like instant settlement and global access to the dollar, some skeptics still worry about risks, which include investor panic during market downturns.
Is CRCL Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on CRCL stock based on five Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRCL price target of $185.73 per share implies 17% downside risk.
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