Analyst downgrades crypto's most subscribed IPO as stock sinks

Circle Internet Group (NYSE: CRCL) went public on June 5 on the New York Stock Exchange in what became crypto’s most oversubscribed IPO in decades. The stock surged roughly 250% in its first two trading days, the largest two-day IPO pop since 1980, fueled by strong institutional demand and optimism around stablecoin regulation following the passage of the GENIUS Act. However, the stablecoin issuer is facing renewed scrutiny after analysts issued a bearish call for the stablecoin issuer. Related: Circle ...