📰 Morgan Stanley downgrades Circle: is USDC losing?
🗓️ Aug 04 2026 11:13 UTC - Andrew Folkler
Morgan Stanley cut Circle's price target from $106 to $38, citing tokenized MMFs and shrinking USDC supply. What it means for the stablecoin market.
➤ Morgan Stanley downgraded Circle, citing shrinking USDC supply and competition from tokenized money market funds, which are eroding Circle's primary revenue stream from reserve income.
➤ The article highlights that tokenized MMFs like BlackRock's BUIDL offer yield directly to holders, posing a significant threat to zero-yield stablecoins like USDC.
➤ The downgrade also points to challenges in Circle's agentic payments business and the competitive pressure from new stablecoin models with shared economics, suggesting a potential shift in the stablecoin market landscape.
#usdc #circle #morganstanley #stablecoin #tokenizedmoneymarketfunds #blackrock #reserveincome #sec #jpmorgan #geniusact
🔗 Read more at: https://rwatimes.io/articles/crypto-morgan-stanley-downgrades-circle-is-usdc-losing-3278724589
RWATimes
npub1gu…j09yg
2026-08-06 00:18:31 UTC
Author Public Key
npub1gux9x4lppctt5ey9uq8uer4k0n2vmw8ms56tr77h0zc0nnms2prs3j09ygPublished at
2026-08-06 00:18:31 UTCEvent JSON
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"content": "📰 Morgan Stanley downgrades Circle: is USDC losing?\n🗓️ Aug 04 2026 11:13 UTC - Andrew Folkler\n\nMorgan Stanley cut Circle's price target from $106 to $38, citing tokenized MMFs and shrinking USDC supply. What it means for the stablecoin market.\n\n➤ Morgan Stanley downgraded Circle, citing shrinking USDC supply and competition from tokenized money market funds, which are eroding Circle's primary revenue stream from reserve income.\n➤ The article highlights that tokenized MMFs like BlackRock's BUIDL offer yield directly to holders, posing a significant threat to zero-yield stablecoins like USDC.\n➤ The downgrade also points to challenges in Circle's agentic payments business and the competitive pressure from new stablecoin models with shared economics, suggesting a potential shift in the stablecoin market landscape.\n\n#usdc #circle #morganstanley #stablecoin #tokenizedmoneymarketfunds #blackrock #reserveincome #sec #jpmorgan #geniusact\n\n🔗 Read more at: https://rwatimes.io/articles/crypto-morgan-stanley-downgrades-circle-is-usdc-losing-3278724589",
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