Bernstein SocGen Downplays Stablecoin Competition Risks on Circle Internet Group (CRCL)

Group 1 - Circle Internet Group Inc. (NYSE:CRCL) is considered one of the best tech stocks to buy according to Cathie Wood [1] - Bernstein SocGen Group has reiterated an "Outperform" rating on Circle Internet Group with a price target of $230 [1] - Bernstein SoGen downplays competition risks for Circle's USDC stablecoin, stating it does not face significant threats [2][3] Group 2 - Circle's USDC stablecoin is currently being utilized as collateral on Hyperliquid, a leading on-chain futures exchange [2] - Concerns were raised regarding Paxos' proposal for a USDH stablecoin, particularly about the potential use of interest earned from USDH [3] - Circle is well-positioned to face new competition from the GENIUS ACT, with Bernstein not seeing it as a significant risk to USDC [3][2] Group 3 - Circle Internet Group Inc. is a global financial technology firm that enables businesses to leverage cryptocurrency and public blockchains for payments and commerce [4]