Circle Stock Dives as Rival Tether Secures Big Four Audit, Crypto Bill Threatens Stablecoin Yield

Stablecoin issuer Circle saw its stock take a 20% dive Tuesday following a double shot of potentially concerning news for the firm behind the prominent USDC stablecoin. As of the close of trading, CRCL changed hands for $101.24, falling just over 20% on the day—and it's ticking down further in after-hours trading thus far, as of this writing. Shares of the closely aligned crypto exchange Coinbase also fell nearly 10% on the day, finishing at $181.04. Early Tuesday, stablecoin rival Tether—issuer of the ...