Circle’s stock rebounded 7% on Monday following a 17% plummet the previous Tuesday, triggered by the announcement of a rival stablecoin, Open USD.
Key Takeaways
Circle stock rebounded 7% Monday after an OUSD press release previously triggered a 17% session drop.OUSD threatens Circle’s business model, where 96% of revenue relies on keeping interest on reserves.Regulators will release final rules on July 18, determining if OUSD can legally pay yield by 2027.
