Circle Internet Group (CRCL) is sliding on Wednesday following a bombshell CoinDesk report that Stripe, Visa (V), and Mastercard (MA) are nearing the launch of a joint stablecoin platform.
Additionally, Coinbase (COIN) is evaluating participation in the new initiative as well. Investors are bailing on CRCL mostly because this could prove a direct threat to its core business — USDC.
