New York, March 4, 2026, 18:41 EST
- Circle notched its third consecutive gain, wrapping up the session at $105.27.
- Mizuho bumped its target up to $100, pointing to inflation risks and reduced chances for rate cuts.
- A Circle officer has put in a notice regarding an upcoming share sale, according to a securities filing.
Shares of Circle Internet Group, Inc. finished Wednesday at $105.27, up 5.7%, extending their winning streak to three sessions. Since Monday’s close, the stock has climbed roughly 10%.
Mizuho Securities bumped its price target on the shares up to $100, from its earlier $90, sticking with a neutral stance. The firm flagged inflation risk if oil keeps climbing. “Rising oil prices could drive up inflation, lowering the odds of rate cuts,” wrote analyst Dan Dolev. CEO Jeremy Allaire, for his part, called the quarter “another step forward” for the company. TheStreet
This is significant for Circle, whose main revenue source remains the reserve earnings from USDC, its so-called “stablecoin” pegged to the U.S. dollar. As of March 2, Circle’s site listed $75.8 billion USDC outstanding, with the reserves labeled as cash and cash-equivalent assets. Circle
Circle’s Hossein Razzaghi filed a Form 144 on Tuesday, disclosing plans to sell as many as 43,119 Class A shares valued at roughly $4.31 million. The document, required by the U.S. securities regulator, alerts the market about insiders’ intent to unload restricted or “control” securities. SEC
Bullish chatter has been moving away from just crypto valuations and toward the underlying payments infrastructure. “USDC isn’t a crypto bet anymore,” Pav Hundal, lead analyst at Australian crypto exchange Swyftx, told Decrypt. Hundal said investors now view stablecoins more as payment rails than speculative assets. The term “agentics” here points to software agents designed to handle tasks autonomously. Decrypt
Circle surged after smashing Wall Street’s revenue forecasts for the fourth quarter, Reuters reported last week. Higher USDC circulation and a boost in reserve income fueled the beat. Jeff Cantwell at Seaport Research Partners described USDC as “scaling rapidly.” Circle, for its part, says it puts the cash that backs tokens into deposits and short-term U.S. Treasuries. Reuters
The regulatory landscape hasn’t locked in yet. Back in February, a Reuters Breakingviews column pointed out that the 2025 Genius Act blocks stablecoin issuers from paying interest right to holders. That’s despite platforms like Coinbase running yield-type reward programs linked to USDC balances.
Circle is up against Tether’s USDT at the top of a jammed stablecoin sector. Banks and payments providers are rolling out their own digital-dollar projects and lobbying lawmakers on the treatment of stablecoin rewards.
Still, the trade can flip quickly. Should inflation ease and the Federal Reserve pivot to rate cuts, Circle’s reserve interest income might take a hit. More restrictive rules on rewards could also dampen appetite from major distributors. On top of that, insider sale plans can amplify selling pressure if the stock is already swinging sharply.
Disclosures about the reserves are getting investor attention, too. Circle reports that it puts out weekly breakdowns and monthly third‑party assurance reports. The company outlines that a portion of its reserve sits in Treasuries and overnight repo, some of it through a BlackRock-run money market fund.
