Mizuho Downgrades Circle to Underperform, Slashes Price Target to $50 on OpenUSD Threat

TLDR: Mizuho downgraded Circle to Underperform, cutting its price target from $85 to $50. OpenUSD’s revenue-sharing model threatens Circle’s core USDC business economics. Mizuho slashed 2027 adjusted EBITDA forecast to $699 million from $1.09 billion. Circle’s August Coinbase renegotiation looms as a key risk to distribution costs. Mizuho, a major Japanese investment bank, has downgraded [...]

The post Mizuho Downgrades Circle to Underperform, Slashes Price Target to $50 on OpenUSD Threat appeared first on Blockonomi.