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Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat

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Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat

The Japanese investment bank said Open USD's yield pass-through model could pressure Circle's margins by shifting more reserve income to distributors.

Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat

Source：CoinDesk

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Source：https://www.coindesk.com/business/2026/07/14/mizuho-downgrades-circle-to-underperform-cuts-price-target-to-usd50-on-open-usd-threat