Bernstein: Growing demand for stablecoins allows Circle to withstand the impact of Fed rate cuts

According to Odaily Planet Daily, Wall Street brokerage Bernstein said that if US interest rates fall sharply, Circle (CRCL)'s revenue may be hit, but strong stablecoin demand and operating leverage may help mitigate the blow. It currently has an outperform rating on Circle stock and a target price of $230. The stock fell 2.3% in early trading to around $134.40. (CoinDesk)