Circle Internet selloff looks ‘overdone,’ says Clear Street

Clear Street argues that Circle Internet’s (CRCL) roughly 20% decline yesterday looked like a “shoot first, ask questions later” reaction, driven by headlines about “banning stablecoin yield” in the revised CLARITY Act and Tether hiring a Big Four firm for its first full audit, sparking speculations of potential U.S. expansion. However, the move is overdone, and the firm’s core thesis on stablecoin adoption including tokenization, prediction markets, agentic AI payments, 24/7 market structure, collateral mobility, and cross-border payments remains intact, adds the analyst, who keeps a Buy rating and $152 price target on Circle shares.