Circle stock rebounds after biggest one day drop ever

Circle (CRCL) rebounded as much as 7% on Wednesday, recovering from its biggest single-day drop on record as Wall Street digested details of proposed legislation that would limit rewards on stablecoin balances. Rising competition from rival Tether may also have contributed to the dramatic move, which saw Circle fall 20% on Tuesday. Trading platform Coinbase (COIN), a Circle partner that receives revenue from the stablecoin issuer, also rebounded 4% on Wednesday after sinking 8% in the prior session. (D ...