Circle Can Withstand Rate Cuts as Stablecoin Demand Grows: Bernstein

Wall Street broker Bernstein said Circle (CRCL) could take a revenue hit if U.S. rates fall sharply, but strong stablecoin demand and operating leverage may help soften the blow. Every 25 basis point drop in rates would trim 2027 revenue by about 9% and EBITDA by 11%, with rates below 2% implying $668 million in EBITDA and 33% compound annual growth (CAGR) from 2024 to 2027, analysts led by Gautam Chhugani wrote in the Tuesday report. Stablecoins are cryptocurrencies whose value is tied to another asset, ...