In brief
- Circle’s CRCL shares dropped 20% on Tuesday following a recent surge in value for the firm’s stock.
- Stablecoin giant Tether announced a long-awaited agreement for an audit from a “Big Four” accounting firm.
- Lawmakers are reviewing compromise language to the Clarity Act market structure bill that could impact 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…
